Nine out of ten U.S. adults own a smartphone and 58% own tablets. One out of five Americans are “smartphone only” internet users. Obviously marketing in mobile channels should be part of every financial institution’s advertising strategy.
According to a report by eMarketer digital advertising is growing at a rate where its share of ad dollars in the U.S. will surpass traditional media. Near the end of 2018, nearly half of all advertising budgets consisted of two components: mobile advertising (34%) and desktop/laptop advertising (16%). eMarketer projects that by the end of 2020, mobile’s share of U.S. ad dollars will increase at a blistering pace, growing to just about half (49)%, a rise of over 40% in just two years.
Marketing for financial services accounted for $1 out of every $8 spent on digital advertising. This compares to the leader — retailing — at 21.9%, but is far ahead of some other industries such as telecommunications, travel, computing and consumer electronics, and media.
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