What Financial Services Marketers Need to Know About Audience Quality, Mindset, and Value:
In the United States alone, spending on digital advertising on financial services rose to nearly $ 20 billion last year. According to Insider Intelligence, a research firm that monitors digital advertising in all industries, this is an increase of nearly 10% over 2019. Retailers alone spent more on digital advertising in the early 1980s.
Financial services marketers are on track to spend even more this year. With more than $ 20 billion in advertising spending grabbing the attention of a fragmented and distracted consumer audience, it is critical that financial services marketers invest in the most profitable platforms.
It starts by reaching an audience of consumers who are not only actively seeking information about financial services, but who have the means and intent to buy products sold by financial service providers.
The market for financial services marketers must be successful
Information from recent global digital thinking surveys, as well as financial and social media information from Business Insider and Forrester Research, show that LinkedIn members differ from members of other platforms and represent a unique audience for the corporate team. To better understand how mindset affects how consumers use and respond to digital platforms, we conducted thousands of 15-minute online surveys of digital platform users around the world.
We found LinkedIn members to be valuable and receptive audiences with the ideal financial services marketing mindset.
The means is the mindset
We all know that we visit different digital platforms for different reasons. These motifs range from entertainment to education, from community involvement to professional development. Sometimes we want to learn and sometimes we want to relax and laugh. LinkedIn members approach the platform with a configuration-based mindset that promotes confidence and responsiveness to messages about some of the most important decisions in life, including finances.
LinkedIn is not only the most trusted social platform, with 73% of respondents agreeing with the statement “I trust this platform protects my privacy and data” compared to 66% of Pinterest and 53% of Facebook, but yes. 47% of LinkedIn subscribers are still at the forefront of information on savings and investment products, compared to an average of 22% compared to other social media platforms.
This explains why 68% of LinkedIn members view content as ‘ways to improve my finances’ compared to 45% of members on other platforms.
High-quality access to high-quality products
LinkedIn members are not only the right way to connect with messages and information about financial services, they also have more money to spend on investments, banking, and insurance products.
LinkedIn members who want to buy expect to spend more than consumers on other platforms.
When financial services marketers authentically talk about their respective products and services and share their financial planning and investment philosophies, they find a unique, profitable audience. At a time when billions of dollars are haunting the limited attention of large consumers, the digital platforms in which marketers of financial services investing have never been so important.