|[May 09, 2012]
Millennial Media Releases Comprehensive Report on Mobile Advertising in the Finance Industry
BALTIMORE --(Business Wire)--
Millennial Media (News - Alert) (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 (News - Alert)
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
Other highligts 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 (News - Alert), 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.
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.
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