40% of Indians prefer video ads on mobile phones: MoMagic Tech
A significant 40% of the 35,000 people surveyed in a report by MoMagic Technologies said that they prefer to watch videos as form of advertisement on mobile phones over other mediums as falling 4G data prices are pushing Indians to consume more video content.
In an extensive survey based research conducted by leading mobile ad tech and data analytics company, MoMagic, the survey indicated image-based text ads were at 24% followed by diminishing text messages at 11%.
Consumers have displayed increased interest in content rich storytelling rather than abrupt banner ads. This trend creates deep lasting impact (i.e. a purchase) and is set to continue through 2018-2019.
The consumer trends in the mobile ad tech segment showed exciting and surprising trends. The survey also indicated that 60% of the respondents owned more than one mobile phone suggesting different phones for home and office use.
“Mobile ad spend is growing at a rapid pace in India as it grew at staggering rate of over 80% in 2017. What we are witnessing is an increasing migration of video consumption including video ads by users in tier 1-2 cities because of economical 4G data plans in a highly competitive mobile operators market which is pushing costs and inversely offering higher data limit packages,” Mr. Arun Gupta, CEO and Founder, MoMagic Technologies said.
Mobile video advertisements are more expensive than text ads as they generally lead to better story telling and effectively delivering a much better lead conversion rates for advertisers.
Most of the mobile advertisements are viewed while playing mobile games and watching videos on platforms such as Youtube. Over 28% of the respondents watch mobile ads for winning credits in games, followed by ads while shopping online at 25.5%.
As mobile has become an eternal part of today’s tech savvy generation, from teenagers to septuagenarian and octogenarians, survey showed an unusual trend that 37% of the people view their mobile phones over 6 times in an hour due to high level of addiction fuelled by internet related activities such as social media and online videos etc.
This has led to rapid consumption of mobile ads as 56% of the respondents see these ads at least 2-3 times in a day. This is already leading to over 60% digital ad spend to come from mobile platform.