in Data & Insights

Harnessing Programmatic to Gain and Retain Customers in the Finance Sector

By Laurie Naspe, Director, Strategic Insights

In recent years the financial sector has proved to be open to digital disruption. New, innovative business models such as Venmo, money transfer services including PayPal and peer-to-peer lending platforms like Lending Club are changing the way customers view finance.

The next step for established institutions is to harness what they know about their customers to market personalized financial products and services. Increasingly, the financial sector is recognizing the value offered by data-driven advertising. According to eMarketer, the financial sector spent $3.02 billion on digital display advertisements in 2015, 55% of which was spent on  programmatic. Additionally, new research by Quantcast reveals that over 40% of financial companies in the U.S. say they will move 20-40% of their offline budgets to digital in the next two years.

The Quantcast Real-Time Advertising for Financial Marketers white paper looks at how finance marketers are embracing digital advertising and is based on both an independently commissioned survey and data from our proprietary Quantcast Measure data set. We created this report because we wanted to unearth the digital advertising opportunity available to finance marketers.

Especially in an industry where account holders stay with their banks for years, connecting with audiences early on is important to driving from initial awareness, to consideration, preference and building to the final action. Programmatic advertising provides the scale needed to maximize reach across the funnel, no matter the stage.

With the ability to target high-value customers from awareness through to conversion, it’s no surprise that financial services organizations are increasing focus on programmatic. Data-driven advertising can reveal valuable and actionable audience insights. Based on proprietary Quantcast data, we reveal the online habits of the typical credit card applicant in the infographic below:

US_Finance-Infographic_DW_04

To learn more about online advertising in the financial sector you can download our Real-Time Advertising for Financial Marketers whitepaper for free here. This report provides finance marketers best practice and guidance on how to maximize the digital advertising opportunity. It also looks at how finance marketers can use programmatic technology to gain and retain customers across the purchase funnel.