How financial marketers can tap the surging mobile ad market

As the mobile channel devours more and more ad dollars, financial institutions will need to master marketing on smaller screens. Maximizing mobile opportunities means matching your messages to the right audience, time of day, lifestyle and medium.

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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