From mobile banking to cryptocurrency, peer-to-peer payment services and fintech tools, consumers today are requesting that financial services brands adapt to their needs in a technology-driven world.1 Financial services brands are attempting to reach these digital-first consumers by spending nearly $28 billion on digital ads in 2022 (+12.8% increase over 2021), behind only retail and CPG.2
The growth in digital ad spending underscores the importance of reaching relevant audiences at the right time, with the right message, to rise above the noise. During the Amazon Ads U.S. Agency Holding Company Summit and Digital Marketing for Financial Services New York Virtual Summit, we shared insights to help marketers refine their strategies in ways that complement their digital media activities, and help them stay top of mind for consumers.
Amazon’s streaming and shopping signals can help empower financial services marketers to better understand audiences key life events and reach them at the right time.
“Customers make important financial decisions during key life-stage moments. Amazon Ads worked with Kantar to discover that eight in ten brokerage shoppers are waiting for a life-stage change before they open a new investment account3 and banking and payments consumers are 3X more likely to open a bank account, sign up for a credit card, or take out a loan because of a life event.4
Getting married, buying a home – understanding the timing of these life events is so important to a financial services marketer. Amazon Ads is in a unique position to utilise shopping insights that reach and engage audiences at the right time, which can help brands who want to support customers during life-stage moments this year.”
– Chris Fuller, Head of Financial Services, Advertising Partnerships, Amazon Ads
Embracing new technologies to reach connected consumers could help financial service marketers connect with audiences who are streaming content.
“Consumers are connected more than ever before – there is endless amounts of content to stream, apps to browse, and brands to buy from. Financial services marketers might consider diving deeper to understand this connected audience to reach consumers in relevant ways. Amazon Ads recently worked with Ipsos to conduct a survey across 3,000 American consumers ages 18–64 and found that Connected Consumers over-index on self-descriptors such as “open-minded” (44%) and “curious” (32%) – this indicates they’re more likely to be early adopters and trend setters.5
Engaging with the Connected Consumer means embracing the streaming TV space, which is filled with creative and innovative advertising opportunities. Streaming TV ads can enable brands to show up on the largest screen in the house and our research shows that 30% of Connected Consumers are more likely to pay attention to ads that play before, during, or after video content streamed on their TV, compared to the 21% who are likely to pay attention to video ads in their social media feed.”6
– Maggie Zhang, Head of Measurement Success, Amazon Ads
1 US Generation Z Financial Behaviours, eMarketer, November 2021
2 US Digital Ad Spending by Industry 2021, eMarketer, September 2021
3 Amazon and Kantar Custom Brokerage Shopper Survey, August 2020
4 Kantar and Amazon Advertising Financial Services Audience Study, December 2020
5–6 Amazon Connected Consumers Ipsos study, July 2021, US