ICYMI: Finance Brands Gaining Credibility on Social, Back-to-School Strategies, Twitter Video Ad Effectiveness, and More
This week: Tips on how financial services brands can be credible on social, social media strategies for back-to-school season in the UK, Twitter video ads proven to be twice as memorable as skippable pre-roll ads, and continued double-digit growth for Snapchat’s US user base.
The rise of mobile banking has presented financial services brands with a new opportunity to engage with customers on the go. By 2020, UK consumers are expected to use mobile devices to manage their accounts 2.3 billion times a year–more than internet, branch, and telephone banking put together. Adaptly VP of Revenue Tim Page discusses how financial services brands can best take advantage of this mobile behavior by reaching smartphone users where they are most engaged: digital and social platforms like Facebook, Instagram, Pinterest, Snapchat, and Twitter. Social is a great medium for financial institutions to humanize their brands and build and maintain customer relationships.
Back-to-school season is upon us and Adaptly SVP of Revenue Frank Martin has insights on how retailers and advertisers can make the most of parents, students, and teachers stocking up for the coming year. 2015’s UK back-to-school spend exceeded £1.45 billion, with parents spending an average of £236 per child. Native ads on social platforms like Facebook, Instagram, Pinterest, and Twitter are a great way to engage with back-to-school shoppers since they offer advertisers large scale and precise targeting. These platforms also provide a full-funnel approach, from building awareness to conversion, which make them ideal for capturing shoppers in all stages of the back-to-school shopping cycle.
A study conducted by Twitter and IPG Media Lab has revealed that video ads on Twitter are twice as memorable as skippable pre-roll ads on other sites. Users attributed this memorability to the relevant and “less intrusive” nature of the native ads that show up in their feeds, contributing to the “personal” and “self-curated” feel of the social network. Half of Twitter users recalled video ads they had seen on the platform after viewing only one second. Compared to skippable pre-roll, Twitter video ads were found to be 8% more favorable, 8% less intrusive, and drove a 10% increase in relevance.
It’s no secret that Snapchat is hugely popular amongst smartphone users. eMarketer projects 58.6 million US consumers will use the app at least once per month in 2016, representing 28% of American smartphone users and 18.1% of the US population. These percentages jump significantly when you isolate Snapchat’s millennial user base. Over half of millennials–40.9 million–use Snapchat, making up 70% of the app’s total user base. By 2020, 47.7 million millennials will be on the app. Snapchat’s year-over-year growth is expected to continue to climb, following an 83.9% and 40.7% increase in 2014 and 2015 respectively.