New York—Brand marketers sharply increased their mobile advertising budgets over the past two years and have more increases planned, according to a study by the Interactive Advertising Bureau.
The IAB report, “Marketer Perceptions of Mobile Advertising, 2013,” showed a 142% increase in advertising budgets allocated to mobile devices since a similar survey was conducted in 2011. During that time the percentage of marketers that maintained annual mobile budgets exceeding $300,000 rose from 7% of all mobile advertisers in 2011 to 32% this year.
For the future, 74% of respondents expect that their companies' mobile advertising spending will increase in the next two years, and 19% predict that mobile budgets will rise by more than 50% in that time frame. IAB's survey was conducted online in July among executives at 300 U.S. organizations that use mobile advertising.