Insurance, Banking Dominate Mobile Advertising in Financial Vertical

Millennial Media released an extensive report this morning, supported by research from comScore, on the mobile finance vertical. It contains in-depth audience profile and behavior information. It's also partly devoted to discussion of financial sector advertisers, their mobile campaigns and tactics.

The company found that finance-related mobile ads grew 34% from Q3 2010 to Q3 2011. Millennial reported that insurance was the leading sub-category, with 42% of display ads on its network. Those ads were mostly lead-gen or directed people to call centers (to close). 

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Banking was next, with an emphasis on branding/awareness. Interestingly Millennial said that "This was also the only Finance sub-category to focus on driving foot traffic into brick and mortar locations, such as ATMs/cash points and bank branches."

Financial services/credit cards followed those categories. These were national campaigns largely focused on a mix of awareness and direct response:

Spend in the Financial Services category varied throughout the year, as brands increased their mobile ad spend ahead of key seasonal events like the April US tax deadline. Credit Card brands heavily focused on campaigns designed to easily allow consumers to apply for new cards.