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BizReport : Mobile Marketing : May 10, 2012


Millennial Media: Finance a hot mobile property

A new report from Millennial Media finds a large number of their platform users are accessing financial information through mobile devices. Finance, in fact, was the number one vertical for Millennial Media in 2011, increasing more than 300% Year over Year.

by Kristina Knight

The study was conducted in collaboration with comScore and found 80% of mobile finance users own a smartphone; these consumers are also more likely to own a tablet or e-reader than the general mobile audience. More than one-third (37%) of mobile subscribers accessing financial information own a connected device which isn't a phone. Most (53%) are between ages 18 and 34 and male (55%).

"Mobile finance users consider themselves environmentally-friendly, health-conscious, and influential," was written in the report. "They are 59% more likely to consider themselves a tech geek than the overall mobile audience, 50% more likely to see themselves as fashion-conscious, and 37% more likely to identify themselves as risk takers - with 48$ of mobile finance users identifying themselves as such, as opposed to only 35% of the total mobile audience."

With such a large group accessing financial information it makes sense for financial brands to use the way these consumers identify themselves as part of a marketing campaign or offering content relevant to their interests. Even moreso consider many of these consumers also identify themselves as loyal customers.

• 49% report they 'stick with' brands they like, 48% of the general audience agrees
• 51% report they purchase brands 'reflecting my style', 42% of the general audience agrees
• 44% say they'll pay more for companies they trust, 32% of the general audience agrees
• 40% report buying brands they 'grew up with', 27% of the general audience agrees

Most mobile finance users say they prefer accessing bank accounts, credit cards and electronic payments through a mobile browser. However the number willing to access the same content via app is growing.






Tags: comScore, financial websites, Millennial Media, mobile financial websites, mobile marketing








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