Millennial Media Releases Comprehensive Report on Mobile Advertising in the Finance Industry
Volume Three of Mobile Intel Series Finds That 37 Percent of Mobile Finance Users Also Own a Non-Phone Connected Device
Baltimore, MD—May 9, 2012—Millennial Media (NYSE: MM), the independent leader in mobile advertising, today released a report containing an in-depth look at mobile advertising in the finance industry. The report was produced in conjunction with comScore, and is the third edition of the Mobile Intel Series; it follows previous reports on Retail and Automotive.
The Mobile Intel Series: Finance report contains detailed information on the mobile finance audience, how this audience uses mobile, what advertisers are currently doing to reach this audience, and what best practices brands can use to succeed in the space.
Finance was the leading global brand advertising vertical on the Millennial Media platform in 2011, and overall spend in the sector grew 300 percent year-over-year. The report breaks down spending in the Finance industry into sub-categories, and found that Insurance advertisers led the vertical in 2011, with over 40 percent of the total spend. Leading sub-verticals after Insurance include Banking, Financial Services and Credit Cards. The report also found that different sub-categories in Finance have different levels of consumer engagement, led by Mobile Banking, where 35 percent of mobile finance users accessed the content once a week, and 22 percent accessed content almost every day.
Other highlights in the whitepaper include:
- Lead generation was the most popular campaign goal in the vertical, and was the leading objective in 70 percent of all finance campaigns.
- Mobile finance users have a number of distinct buying behaviors. According to comScore, almost 50 percent of mobile finance users claimed they will stick with a brand they like, and mobile finance users are 95 percent more likely to be influenced by celebrity endorsements than the total mobile audience.
- 80 percent of mobile finance users own a smartphone—an increase of 55 percent year-over-year. Additionally, 37 percent of mobile finance users own a non-phone connected device (i.e. tablet, e-Reader, etc.).
“Finance has been among the leading mobile advertising verticals for years, but the industry is still evolving, and it’s more important than ever for advertisers to understand the landscape,” said Jamie Fellows, SVP, Product, Millennial Media. “Finance advertisers have an opportunity to strategically create campaigns that will engage consumers in a variety of ways, unique to their brand.”
The insights in the report are based upon a study commissioned with comScore, and observations from thousands of mobile ad campaigns run across the Millennial Media platform.
Visit http://www.millennialmedia.com/mobile-intelligence/mobile-intel-series/ to download the complete free report.
About Millennial Media
Millennial Media is the leading independent mobile advertising platform company. Our technology, tools and services help app developers and mobile website publishers to maximize their advertising revenue, acquire users for their apps and gain insight about their users. We offer advertisers significant audience reach, sophisticated targeting capabilities and the ability to deliver rich and engaging ad experiences to consumers on their mobile connected devices. Visit www.millennialmedia.com for more information.