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Wyclef Jean, TIAA, and Amazon Ads sync up for “Paper Right”
Hear from Wyclef Jean, Zara Mirza from TIAA, and Kate McCagg from Amazon Ads about the vision behind their unique collaboration to advance financial literacy and retirement planning.
Industry marketing
Financial services marketing
How can Amazon Ads fit into your financial services marketing strategy? Learn about the advertising solutions we can offer your financial services company, whether you specialize in insurance, banking, brokerage, or tax.
Understanding financial services marketing
Financial services marketing helps you connect with consumers and companies looking for service providers to fulfill their financial management needs. A complete advertising strategy reaches prospective customers and encourages them to consider your brand’s financial solutions, before purchasing and becoming loyal customers.
Financial services advertising is projected to grow
In the US, financial services digital advertising spending is projected to grow to $44.42 billion through 2026.1 It is the third largest ad spending category after retail and consumer packaged goods.2 Financial services advertisers are continuously looking for ways to connect with consumers to drive awareness and consideration of their brand and products, as well as lower-funnel actions, like adoption and retention. In a highly competitive landscape, advertising can help your brand stand out.
Financial services industry trends
Financial services consumers go digital
Digital channels now bring in more insurance customers than agents and call centers. 53% of first-time auto insurance buyers start their relationships with providers through digital channels, compared to 29% who originate from agents and 18% who originate from call centers.3
Consumers value personalized financial advice
Only 42% of consumers recall receiving guidance from their provider, yet 76% of consumers that receive personalized advice from their providers act on it.4
Economic uncertainty affects brand switching
In the past year, 1 in 4 consumers have switched banks, 1 in 3 consumers have moved to different wealth managers, and 1 in 3 consumers have changed insurance providers due to economic uncertainty.5
Financial services marketing challenges
Standing out in crowded spaces
Across financial services, consumers are overwhelmed by the options they have for service providers. Broad-reaching solutions can help advertisers find ways to stand out and connect with these audiences during their consideration period.
*68% of surveyed auto insurance audiences,6 74% of surveyed brokerage audiences,7 and 73% of surveyed credit card audiences 8 report feeling overwhelmed by the options they have for respective providers.
Finding the right moment
Financial services advertisers may find it difficult to know when to reach prospective customers. Rich insights can help advertisers understand when consumers may be most in need of services.
Leveraging insights and analytics in a privacy-safe way
Many financial institutions face challenges finding ways to navigate the evolving addressability landscape while maintaining secure data privacy. Clean rooms can help advertisers produce unique insights and create custom audiences through the collaboration of their first-party data and accurate third-party signals.
Amazon Ads marketing insights
Insurance
Insurance as a category covers a broad scope of products, spanning health, property, and casualty (home, auto, and renters), life, travel, and many more niche types of insurance. Any risk or liability can be insured.
Based on a custom survey by Kantar, nearly 2 in 3 insurance customers who bought or changed an insurance policy in the last three months visit Amazon at least once a week.9
*Visiting Amazon is defined as streaming Prime Video.
Payments and banking
The banking and payments industry comprises financial institutions such as traditional banks, financial technology (fintech) companies, and network payments providers. They offer a variety of products and services, including credit or debit cards, checking and savings accounts, and payments and lending solutions.
The average U.S. consumer now has four credit cards,10 at least one debit card,11 and five bank accounts.12 Studies show that 90% of new account openers visit Amazon at least once a month.13
*New account openers are defined as consumers who have opened a new payment account in the last three months.
**Visiting Amazon is defined as visiting Amazon.com.
Brokerage and personal finance
Online brokerage firms allow customers to buy and sell various securities online. In addition to allowing customers to transact online, they also provide resources for investment information and advice.
Based on a custom survey by Kantar, 58% of brokerage account users visit Amazon at least once a week.14
Reach financial services audiences across key channels
Thursday Night Football and live sports
Thursday Night Football audiences are 146% more likely to search for insurance brands or products advertised during Thursday Night Football than prime time broadcast and cable.16
Thursday Night Football audiences are 84% more likely to search for banking brands or products advertised during Thursday Night Football than during prime time broadcast and cable.17
Wondery
88% of Wondery listeners are planning to make a change to their financial services in the next six months.18
Surveyed consumers who plan to start a business in the next six months are nearly 2x more likely to be Wondery listeners than the average internet user.19
Amazon Music
75% of Amazon Music listeners are planning to make a change to their financial services in the next six months.20
*Plans to make a change to financial services are defined as plans to buy bonds, sell bonds, open a new savings account, take out a loan, make a loan payment, buy options, sell options, buy stocks / shares, sell stocks / shares, get a new credit card, invest in cryptocurrency, invest in funds (EFTs, mutual funds, index funds, etc.), or open a new checking account.
Reach your goals with the latest financial services marketing solutions
Deliver results through relevancy at scale
Amazon DSP stands out by prioritizing both reach and privacy. It leverages unique first-party data and AI to deliver impactful ads even without traditional identifiers, helping ensure your campaigns remain effective in a changing landscape. By combining privacy-centric clean rooms with streamlined workflows, Amazon DSP offers a comprehensive solution that unlocks deeper audience insights and optimizes campaign performance.
Make data drive decisions
Use Amazon metric and reporting tools to accurately measure your advertising’s impact on how consumers discover, research, and sign up for services across various touch points. Consider remarketing opportunities that help drive audiences to conversion and encourage brand loyalty.
Financial services marketing examples
Sources:
1 eMarketer. US. Aug 2024.
2 eMarketer. US. Aug 2023.
3 J.D. Power. US. May 2024. N=11,086
4 J.D. Power. US. June 2024. N=7,984
5 eMarketer. Australia, Brazil, Canada, France, Germany, Ireland, Japan, Mexico, New Zealand, Singapore, United Kingdom, United States. Aug 2023
6 Kantar and Amazon Ads Audience Activator, U.S., 2022. N=10,022. Auto Insurance Users N=8,045.
7 Kantar and Amazon Ads Audience Activator, U.S., 2022. N=10,022. Online Brokerage Category Assigned N=558.
8 Kantar and Amazon Ads Audience Activator, U.S., 2022. N=10,022. Credit Card Category Assigned N=550.
9 Amazon Ads x Kantar - Quickfire Insurance Study. Feb 2023. US. N = 500.
10 Experian. US. Apr 2024.
11 Statista. US. Mar 2024.
12 eMarketer. US. September 2024.
13 Amazon Ads x Kantar – Quickfire Banking and Payments Study. Sept 2023. US. N = 500.
14 Amazon Ads x Kantar – Quickfire Brokerage Study. Dec 2022. US. N = 500.
15 GWI Core, U.S., Q1 2023 – Q4 2023, n=98k (U.S. adults), n=8.2k (Auto Insurance audience). GWI Core, U.S., Q1 2023 – Q4 2023, n=98k (U.S. adults), n=37k (Brokerage audience) GWI Core, U.S., Q1 2023 – Q4 2023, n=98k (U.S. adults), n=29k (Credit Card audience). GWI Core, U.S., Q1 2023 – Q4 2023, n=98k (U.S. adults), n=4k (Home insurance audience).
16 EDO, 9/7/23 – 1/7/24, NFL regular season includes CBS, FOX, NBC, ESPN. Based on average Google search rate.
17 EDO, 9/7/23 – 1/7/24, NFL regular season includes CBS, FOX, NBC, ESPN. Based on average Google search rate.
18 GWI Core, U.S., Q1 2023 – Q4 2023, N=98k (U.S. adults), N=8.2k (Auto insurance audience). GWI Core, U.S., Q1 2023 – Q4 2023, N=98k (U.S. adults), N=37k (Brokerage audience) GWI Core, U.S., Q1 2023 – Q4 2023, N=98k (U.S. adults), N=29k (Credit Card audience). GWI Core, U.S., Q1 2023 – Q4 2023, N=98k (U.S. adults), N=4k (Home insurance audience).
19 Global Web Index. GWI USA. Waves Q2 2023 – Q1 2024. US. N = 556.
20 Global Web Index. GWI USA. Waves Q2 2023 – Q1 2024. US. N = 11.4 million.