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Mobile marketing proving popular with financial companies
Marketing News |
11/05/2012
Mobile marketing is proving a popular and effective method within the financial sector, according to a recent study.
Data from a Millennial Media study, conducted by comScore, shows that between 2010 and 2011, mobile ad spend within the sector rose by a massive 314 per cent.
In particular insurance companies and banks tended to try and target people via their mobile device.
According to the company, the medium is selected by a lot of financial firms as it is popular with a younger audience, which is also the group most likely to engage with financial content.
People between the age of 18 and 34 are also more likely to be loyal and stick with a product they trust, meaning companies have the chance to develop a lasting relationship.
Marcus Startzel, general manager of North America, Millennial Media, said, “When it comes to selecting a financial services company. 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."
In terms of how the campaigns were run, most companies tended to target specific device types, with tablets and e-readers being the most popular.
"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," Mr Startzel continued.
Mobile advertising is becoming increasingly favoured among companies as more and more consumers are inseparable from their smartphone and tablet devices.
There is a real trend for location-based mobile ads with a recent report from Berg Insight showing that real-time mobile location-based advertising and marketing (LBA) will grow from €192 million in 2011 to €4.9 billion (£3.9 billion) in 2016.
Within four years it will account for 8.3 per cent of all mobile advertising and marketing.
Posted by John Lynes
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