Mobile advertising spend booms in automotive, financial and healthcare industries
According to new research from Marin Software, provider of a cross-channel advertising cloud, among the three industries that boosted their ad spending more significantly during Q1 2015 are the automotive, financial and healthcare sector. Given the shift in consumer behaviour toward heavy smartphone adoption and regular use of their mobile devices, these industries were quick to adapt and increase their mobile ad spending accordingly.
Having analysed data from advertisers using Marin Software’s own platform, representing $7bn in annual ad spend and 13 major countries, the research finds that healthcare brands spent an average 13% more on mobile ads during the first quarter 2015. Mobile ad impressions increased 28% the year over with clicks up by 10%. This rise is in line with an increase in fitness trackers and health apps flooding the market. 33% of consumers say they never remove their wearables and 20% wish to be in contact with their doctors 24/7. Mobile healthcare is rapidly growing not just on the consumer side, but also the industry as a whole with online health records and cloud-based patient tracking growing in usage.
Marin Software’s Infographic compares ad spending and trends across healthcare, finance and automotive sectors
Within finance, mobile banking and payments are a key driver for industry growth and subsequently higher ad spending. Financial institutions spent 15% more on mobile ads. Impressions were up 24% and clicks 8.5%. Two-thirds of consumers clicked on mobile banking advertisements. Marin predicts the number of users to bank using their mobile devices to grow to 1.75bn over the next five years. As adoption of mobile banking on smartphones continues to grow, marketers can expect higher demand for simple and faster payment solutions. By the end of 2015, financial services companies will spend more on mobile than desktop advertising, Marin predicts.
Driven by a greater number of automotive shoppers who research cars and dealers using their mobile devices, ad spend was up 10% across the industry, resulting in 11% more impressions and a 9% higher click-through rate. Car buyers are increasingly comparing vehicle prices using their mobile phones. 71% of US consumers said they had used a mobile app to visit an automotive website and a third of them started their path to conversion after clicking on a mobile ad. Marin predicts that mobile ad spending in the industry will be level with desktop by the end of 2015.
Overall, the research concludes, the mobile experience and importance of mobile advertising continues to grow with smartphones becoming an integral part of consumer life.