As mobile advertising begins to carve its path in online marketing, one industry seems to be harnessing the power of mobile to its advantage. In recent studies, the financial vertical show the realistic and measurable advantages to this new marketing channel.
According to a study performed by comScore and Millennial Media, 70% of financial industry survey respondents reported that the main goal for running a mobile campaign focuses on lead generation and registering potential customers through mobile optimization. A distant second at 16% was maintaining a market presence.
Therefore, it is clear the financial industry is seeing great value in mobile advertising that goes beyond simply branding across several marketing mediums. It is about maintaining the competitive advantage in a marketing space that is, not only emerging, but proving to be an area of great value in terms of reaching a targeted audience, no matter where they are located or what they are doing in that moment.
By adding mobile advertising campaigns, the financial sector has a unique opportunity to continuously touch its audience when and where it is convenient for them – and it is.
Mobile financial consumers, individuals that use a mobile device to access mobile information, have an astounding smartphone penetration rate of 80%. When devices were considered, although surveyed users did have a web-optimized phone, the majority also owned a tablet to access financial information. And when asked about preference between a mobile-optimized website versus a mobile application, the differences were not significant.
Although many users will still utilize the mobile website, when it comes to accessing financial information on a daily basis, the mobile application was seen as the easier, more efficient solution.
In regards to the finance-related mobile ads’ user behavior, the study found that 54% of the clicks resulted in enrolling, joining, or subscribing to services with the financial institution; 51% of users placed a call after seeing a mobile advertisement. As a result, the previous goals set forth by the financial institutions are being met with the mobile advertising campaign.
As more people begin to fully adopt mobile services into their lifestyles, the importance for consumer-driven industries to stay up to date with the latest online marketing trends and consumer behavior is apparent. The financial industry is no exception.
With so many of us accessing personal or business-related financial information on daily basis, it’s important for these institutions to stay ahead of the curve and be ready when their existing and future customers seek their mobile assistance.
Have you considered your mobile and online marketing strategy for your targeted audience(s)? Call SteadyRain’s Strategy Team to begin work on a mobile consulting engagement and mobile optimization that leverage emerging technology and produce desired results today.