Millennials support the food deliver companies, Door Dash, Uber Eats and Gubhub much like the baby boomers and senior supported fast-food restaurants like Sonic and brands like Buster Brown Shoe company and Hush Puppies. We have four different mobile advertising channels, search, display ad, voice and directories. Like everything each has its strengths and weaknesses. Right now, were in a huge transition of change when it comes to advertising and how business will be conducted moving forward. In a survey of over one million phone calls to consumers 69% clicked on a mobile ad for a bank, lender or insurance company for more information. Online banking is quickly being done on the move and without having to actually go to the bank or use a computer. A key takeaway from the above-mentioned survey is that smartphone ads should emphasize the click to call in cell phone advertising if targeting millennials. Keep this in mind, nine out of ten adults own a smartphone and over 60% own a tablet.
There is a growing number of consumer that are smartphone only internet users. The mobile channel is eating up advertising dollars. All businesses will have to master advertising on smaller screens and matching the ad message to the right audience group, time of day and location. Financial and insurance advertising accounts for over 30% of mobile advertising dollars. As more and more players enter the mobile advertising arena it will be critical for a business to partner up with the right company for national or local visibility and is effective and on target. The top two message that receive the best response is, brnd familiarity and having an interesting creative. Followed by timing and the promotional offer. This is what makes cell phone advertising so good, it brands, offers top of mind awareness, the offer can be changes instantly and its delivery can be tailored. As for the timing of ads, when consumers are most receptive a mobile phone ad. Naturally when people are on the go, they are on the move and are less receptive to ads. The time of day tat most consumers were receptive to mobile phone ads was when the ads where delivered while the consumer was unwinding, relaxing in bed.
The least popular time of day was at meal time and while shopping. So, plant the message and target your audience early and often to sway their purchase decision. Determine who your age group is, audience demographics and target them accordingly. All of this is for not if you haven’t already built a brand that has trust. Millennials just like everyone else want to do business with financial companies and insurance companies that they know and trust. And the way anyone gets to know you is through branding and top of mind awareness. Relate to your audience, use content to influence and personalize your message. Best practices are, go local and stay relevant, build trust, build your brand and drive a response by having a call to action. Rinse repeat and test, tweak and retest your ad campaign. There will always be challenges in every campaign. By raising brand awareness and delivering your message in a repeated fashion consumer will be persuaded. At a time when other advertising medium are seeing diminishing returns mobile phone ads are surging. This trend is not expected to slow down anytime soon.
Reach consumers in moments when they’re most likely to need financial services with mobile marketing.
People seeking entertainment are more likely to visit bank branches. Reach people who have visited a sporting arena or concert venue to entice them to visit your establishment.
Major life events such as moving or buying a car are prime indicators that a consumer is in need of financial services. Reach visitors to home improvement stores or auto dealerships with messages about your bank.
Contact our team of dedicated advertising experts who can answer your questions and help you start achieving your goals.