A tiny step for Google, a giant step for mobile ? that?s what the AdMob acquisition will amount to if the deal wins regulatory approvals in the next few weeks or months. Now it?s time for other mobile ad networks to work on their positioning.

The Google play for AdMob has brought scrutiny to mobile advertising like no other event or launch, bar an Apple announcement. And while Apple?s moves typically resonate both in the consumer and business markets, the Google decision to spend $750 million on a three-year-old company that serves mobile display advertisements on iPhone sites and applications made every major advertising-focused company take notice (see story).

Interestingly, the Google-AdMob news was quickly followed by Millennial Media's new $16 million round of funding which news this publication broke today (see story). It is proof that investors, both online companies as well as venture capital firms, see value in the role that focused mobile ad networks play.

While there is joy and elation in certain quarters ? AdMob founders, shareholders and employees, and Millennial Media staff, for example ? there is also a missed-the-boat feeling among some mobile ad networks and other players in the ecosystem. 

But all is not lost yet.

Life goes on
First, the AdMob deal has to go through. Some say that is almost a formality. Other media outlets report concern from privacy groups over Google?s growing clout to offer a 360-degree view of online browsing habits, be it on a computer or a mobile device.

If the past is any indication, the regulatory agencies may salute through the deal since AdMob doesn?t hold a monopoly position in serving mobile display ads, although it is one of the dominant and better-organized players in the space.

Second, the mobile advertising market is strong and growing.

As more publishers open their sites to mobile viewing, so will more inventory become available for relevant advertising.

Those publishers who decide not to invest in in-house mobile ad sales forces will turn to mobile ad networks for their reach, ad-serving technology and collective clout. They may even supplement their in-house efforts with mobile ad networks, copying a model popular on the wired Web.

Working with networks also makes it easy for media buyers and advertisers to seek a single point of contact for mobile media buys.

Finally, Google?s interest in mobile advertising will spur its competitors or partners into action. Expect some mergers and acquisitions in the next few months as larger online players realize that an absence from mobile could be fatal five years down the road.

Which brings us to the 800-pound gorilla in the room: where do other mobile ad networks go from here, post-AdMob sale?

Aside from the usual rough-and-tumble within the current network space, what if Apple ? which is said to have looked at AdMob ? decides to launch its own ad network for Apple sites and applications? After all, Apple has the platform and the relationships.

Moreover, Google is also building a collection of Android applications, as are Research In Motion with its BlackBerry App World and Palm with its Palm Catalog. They can easily turn on the network capability, too.

USP
Depending on the final goals ? acquisition or merger with larger industry player, subsidiary of online giant or Lone Ranger ? the name of the game is positioning.

One of the issues that mobile ad networks face is positioning, or rather the lack of it. Yes, advertisers and publishers are aware of the respective networks? brands and some of their clients, but what do these mobile companies really do that differentiates them from their peers? In the end, they all serve ads on mobile sites and applications.

Indeed, mobile ad networks risk becoming commoditized, just as many of their publisher partners have become. News has become a commodity, forcing most publishers to become mere conduits.

Mobile ad networks must work to position themselves on their technology, customer service, branding and area of specialty. Positioning by press release and speaking gigs don?t substitute for proper branding and marketing.

AdMob put a stake in Apple ground, and that was clear from its messaging and research reports. What about the rest? What do they stand for?

The mobile ad network space has become highly politicized with rivalries and whispering reaching a crescendo. The networks are the backbone of mobile advertising, but they must remember what the politicians hold dear to them: better to define yourself than let the competition define you.