Financial Services Industry Continues to Lead in Digital Advertising
Some industries have been faster to convert their marketing efforts to digital than others. One of the leading sectors in this realm has been financial services businesses. The US Financial Services Industry 2013: Digital Ad Spending Forecast and Key Trends report from eMarketer details which businesses are spending in specific digital formats this year and projects activity for the future.
Banks, credit card companies, insurance firms and investment advisors will spend about $5.2 billion on digital marketing in 2013. This accounts for about 12.4% of all digital ad spending and marks a 13.1% increase over last year. By 2017, this sector will pay for $7.38 billion in digital ads and eMarketer analysts point out that represents a 9.9% compound annual growth rate. In general, the financial services marketers allocate about 38% or $1.98 billion of their digital effort to branding campaigns. The balance, 62% or $3.22 billion goes to direct response.
The financial services companies aren’t exactly slacking on the mobile front, either. A report from the Mobile Marketing Association combines them with real estate marketers and measures mobile ad spending in that sector at $2.08 billion for 2013, which is a 56% jump over last year. From now through 2015, finance, insurance and real estate marketers are expected to lead the pack in mobile spending.
To learn more about likely stock traders, one audience of interest to financial services firms, check out the AudienceSCAN report available on the Research Store at ad-ology.com.