The recession may be barreling along, but advertising optimism is on the rise. A new study released by Advertiser Perceptions Inc. last week found that ad confidence is on the rise generally. But online advertising is expected to grow more than most. And interestingly, marketers are more bullish on mobile media that advertising agencies.
That's good news for the space.
Starting this year, API began a bimonthly poll of media decision makers to monitor advertising confidence levels and how they have been affected by the U.S. recession. The latest Advertiser Optimism Report found that expectations have grown for most major media, but most especially for online and mobile.
The 200 "media decision makers" polled for the months of June and early July and found that ad spending expectations for both advertisers and agencies have improved for online media in recent weeks. Those numbers are still not close to their high point during the fall of 2007, but mobile media expectations are at their highest rate since API started tracking ad spending confidence in the space two years ago.
More importantly, the people spending money on advertising are gaining confidence in online and mobile. Of those polled, 70% of marketers were optimistic about mobile advertising, versus 57% of agency employees. While agencies may still be uncertain about how best to monetize the space, marketers are interested in spending money there.
When a recession hits, brands are going to be very careful about where they put their money. But if marketers are interested in spending money on new formats during a recession, that means that they see value there. And especially in a space like mobile that is quickly expanding and changing, getting brands excited about being there is half the battle.