Home  › Media › Mobile
millennial-finance-mobile2

Financial Mobile Ad Spend Up 314%

  |  May 9, 2012   |  Comments

Millennial Media study: insurance brands led the way.

According to Millennial Media, from 2010 to 2011, mobile ad spending in the finance vertical grew by 314 percent worldwide. Banks and credit cards, along with electronic payments, stock trading and insurance services, became the top global brand advertising vertical on the Millennial Media platform in the fourth quarter of 2011, moving ahead of the Retail and Restaurants, Entertainment, Telecom and Automotive.

The mobile advertising platform provider today released results of a study it commissioned with comScore of Millennial Media's global platform observations across thousands of mobile ad campaigns reaching over 300 million unique global mobile users.

Within the finance vertical, insurance was the leading sub-category, with a 42 percent share. This was primarily comprised of auto, property and casualty insurance campaigns, but also included health and life insurance campaigns. Insurance companies often used the mobile channel to let consumers get immediate quotes by inputting their information or clicking to call.

Banking was the second leading sub-category, with a 28 percent share. The top campaign goal was lead generation and/or registrations.

millennial-finance-mobile2

The study suggested finance brands are putting more dollars into mobile because people who engage with financial content and ads via mobile devices tend to be young (between the ages of 18 and 34) and affluent, with 48 percent having an income of $75,000 or better. Of these users, 55 percent are male.

Millennial would not disclose the names of any brand advertisers running ads on its network.

They also are brand-loyal, saying they're willing to pay more for a product they trust and stick to brands they like. This behavior creates a strong opportunity for finance brands to begin long-lasting relationships with younger users, according to Marcus Startzel, general manager of North America, Millennial Media.

When it comes to selecting a financial services company, Startzel said, "These are purchase decisions we make in these early years, stick with the rest of our lives and only change rarely. We know this intuitively - and the data shows that, as well."

More than 90 percent of the finance campaigns running on the network targeted audiences using specific device types. Millennial found that, compared to the overall mobile audience, mobile finance consumers were more likely to use tablets and e-readers, with the iPad2 the most popular at 12 percent.

When it came to content, comScore found that mobile finance users were highly utilitarian, with weather the category most often accessed, at 84 percent. Following that were maps (74 percent), search (69 percent) and news (67 percent).

The top audience targeting methods used by finance advertisers in 2011 were content targeting, tactical targeting, local targeting and demographic targeting.

While the obvious finance advertising strategy is to message against financial content, Startzel noted, "Mobile finance users are everywhere," on ad-supported sites including sports, games and news. That is where brand advertisers are running campaigns. It's much less about content and more about the audience."

ClickZ Live Chicago Join the Industry's Leading eCommerce & Direct Marketing Experts in Chicago
ClickZ Live Chicago (Nov 3-6) will deliver over 50 sessions across 4 days and 10 individual tracks, including Data-Driven Marketing, Social, Mobile, Display, Search and Email. Check out the full agenda and register by Friday, Oct 3 to take advantage of Early Bird Rates!

ABOUT THE AUTHOR

Susan Kuchinskas

Susan Kuchinskas has covered interactive advertising since its invention. The former staff writer for Adweek, Business 2.0, and M-Business covers technology, business and culture from Berkeley, CA.

COMMENTSCommenting policy

comments powered by Disqus

ClickZ Today is our #1 newsletter.
Get a daily dose of digital marketing.

COMMENTS

UPCOMING EVENTS

Featured White Papers

IBM: Social Analytics - The Science Behind Social Media Marketing

IBM Social Analytics: The Science Behind Social Media Marketing
80% of internet users say they prefer to connect with brands via Facebook. 65% of social media users say they use it to learn more about brands, products and services. Learn about how to find more about customers' attitudes, preferences and buying habits from what they say on social media channels.

An Introduction to Marketing Attribution: Selecting the Right Model for Search, Display & Social Advertising

An Introduction to Marketing Attribution: Selecting the Right Model for Search, Display & Social Advertising
If you're considering implementing a marketing attribution model to measure and optimize your programs, this paper is a great introduction. It also includes real-life tips from marketers who have successfully implemented attribution in their organizations.

WEBINARS

Jobs

    • Internet Marketing Campaign Manager
      Internet Marketing Campaign Manager (Straight North, LLC) - Downers GroveWe are looking for a talented Internet Marketing Campaign Manager...
    • Internet Marketing Specialist
      Internet Marketing Specialist (InteractRV) - DallasInternet Marketing Specialist InteractRV - Anywhere Telecommute, USA SEM | SEO | Content Creator...
    • Tier 1 Support Specialist
      Tier 1 Support Specialist (Agora Inc.) - BaltimoreThis position requires a highly motivated and multifaceted individual to contribute to and be...