EUROPE/US: Mobile consumers have told advertisers what they believe they are worth, suggesting that engaging with one minute of advertising on mobile devices is equivalent to £6.80 per consumer for advertisers.
This figure emerged from an international research study – What's My Worth? – conducted by Opinium Research for Millennial Media. This polled more than 4,000 consumers across four countries – France, Germany, the UK and the US – exploring the value exchange consumers have with advertisers in return for letting them into their mobile devices.
US consumers put the highest value on their time at £7.80 per minute, while French ones had the lowest at £5.40; those in Germany (£6.40) and the UK (£7.20) came in around the average.
The report highlighted the fact that consumers accept the value exchange of ads supporting free apps and content, as 79% of respondents said they understood this model. Further, 72% said they expected ads on mobile devices to keep content free; only 3% had opted to pay for apps to remove ads.
"Consumers know their attention on mobile is valuable to advertisers, and brands must acknowledge that with campaigns that give them something in return, such as a unique mobile experience or relevant, engaging content," said Stephen Jenkins, vp/global marketing & communications at Millennial Media.
The survey also revealed that one in four (25%) consumers had clicked on a mobile ad at least once within the last month to find out more about a product or service.
The numbers were highest for the US (31%), while Europe was significantly lower: 25% in Germany, 22% in France, and 21% in the UK.
Overall, one third of consumers that had engaged with a mobile ad in the last 12 months on their smartphone (35%) and tablet (38%) had consequently been prompted to specific actions.
Top of the list was giving consideration to a product or brand that they would not have otherwise have thought about (18%) with actual purchase (14%) not far behind.
And of all those who had made a purchase as a result of clicking a mobile ad, four in ten (43%) said they had bought in a bricks-and-mortar store, whilst eight in 10 (82%) had done so online.
Data sourced from Millennial Media; additional content by Warc staff