When Google says that something is growing faster than anyone had ever predicted and figures like $200 billion-a-year are mentioned, people tend to sit up and take notice.
As his tenure as CEO comes to as close, Google’s Eric Schmidt delivered the keynote address at the Internet Advertising Bureau’s Annual Leadership meeting over the weekend. He told delegates that mobile use is growing faster than all internal predictions at the search giant and mentioned that YouTube is currently getting 200 million mobile hits a day. The knock-on effect for advertisers is obvious and as a way of underlining the potential, Schmidt rolled out some figures from this year’s Superbowl. Mobile searches for advertiser Chrysler shot up 102 times while desktop searches peaked at 48 times. It was even better for GoDaddy whose mobile search queries shot up an incredible 315 times, almost ten times the desktop equivalent.
Schmidt went on to tell the delegates that technology had finally caught up with advertising potential and that by his reckoning the current $17 billion-a-year online display ad business could easily be turned into a $200 billion-a-year industry. He said that the growth of mobile use would facilitate that, pointing out that 78 percent of smartphone owners use their phones while they shop. “This is the future and everyone will adapt,” said Schmidt. “Because people are fundamentally better off with a better and smarter and more empowered, if you will, customer.”
Schmidt went on to say that, in order to achieve that growth rate, the advertising system needs to be made more accessible. “It is still too complicated to get a campaign up. It’s just too hard when you actually sit there and you talk to customers, they say show me how to do this?” As he closed his speech, Schmidt went sort of whimsical in tone speaking about his pride in bringing this technology to all parts of the world. He must be getting a little misty eyed now his days as CEO are numbered.