RSS feed Get our RSS feed

News by Topic

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

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.