Americans hit hard by the recession may have had less money in their pockets, but this didn’t stop them from surfing the internet to learn about products and services. A new survey suggests CFOs from some of the world’s leading companies believe digital and mobile platforms now offer the best access to consumers and the greatest potential for bringing in profits.
Ernst & Young’s 2010 global media study, entitled Poised for digital growth: Preserving profitability in today’s digital world, reports the number of U.S. households with broadband connectivity and at least one 3G mobile device has quadrupled in the past five years and increased by more than 600 percent worldwide.
Online ads may soon have the potential to reach even more eyes as Ernst & Young analysis predicts that the number of households with broadband connections will reach 27 percent by the end of 2010. It suggests online consumers will exceed 2.2 billion in ranks by 2011.
This means if a business isn’t already online, it should be. An Ad-Ology survey found that a whopping 46 percent of small businesses did not even have a website at the start of 2010, relayed eMarketer.
Meanwhile, many companies that have a web presence are still missing countless opportunities in the mobile markets. Recent reports indicate that consumers increasingly rely on their mobile devices to find the latest industry news. Yet, RBC Capital Market research shows that mobile markets account for just 2 percent of paid search spend.