The way mobile app marketers allocate budgets to campaigns is changing as global app install ad spend is expected to grow to $118 billion in 2022, up from $58 billion last year, and video is the winner.
According to new research from AdColony, video accounts for 42% of campaign spending, with full-screen video (18%), in-feed (10%) and social video (8%) all sharing the piece of the pie.
Display ads ranked second with 23% of budget allocations followed by search ads (9%).
The move to video is due to the format’s effectiveness (55%) and growing excitement among advertisers (30%).
Meanwhile, fewer respondents (18%) are using offer walls in 2020 and just 12% of app install marketers would shit to CTV or OTT.
The study also found that app install teams are shrinking in size (down 8%) from an average 10 in 2017. This is partially due to teams becoming more effective at managing their tasks.
When it comes to performance evaluations of campaigns, 71% of respondents said that price was the most important factor to evaluate advertising networks and campaigns.
Other considerations included the number of acquired users, ad volume, targeting capabilities and ad network service levels.