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Consumer Behavior Shifts Mobile in Key Verticals

Consumer Behavior Shifts Mobile in Key Verticals

By   May 13th, 2015

Advertisers are investing heavily in mobile, and the massive 4.5 billion global mobile users may have something to do with it. Smartphone adoption has reached an all-time high with one-in-four people owning and using a smartphone on a regular basis. Since consumers are spending more time online via mobile devices than desktop, marketers must learn to effectively reach and engage these audiences. Across all channels, smartphones and tablets are playing an ever-more important role in a marketer’s strategy to effectively reach and engage audiences.

In Q1, we looked at three verticals that were particularly affected by shifts in technology and user behaviors causing acceleration in their mobile investments: healthcare, finance, and automotive. There were a few key shifts in advertiser and consumer behavior that led to this increase in mobile spending and attention that is not seen within other verticals.

Healthcare

In the healthcare sector, there were a few key occurrences in 2014 that lead to increased consumer attention towards mobile. Consumer adoption of mobile-connected wearable technology such as fitness trackers or mobile-connected glucose monitors grew as an explosion of fitness and health-related apps entered the market. This inflation was in response to increased consumer demand for always-on health and fitness tracking. Mobile connectivity has also become the norm, with patient-recorded data continuing to gain acceptance among doctors in diagnoses. mHealth (mobile healthcare) is booming. On the industry side, digitization of health records and online cloud-based patient tracking is growing in usage across the industry, with records access via tablet or smartphone, or mobile communication with patients via texts or mobile video. All this marks an increase in consumer usage on their mobile devices to look up and browse healthcare related media. And advertisers have followed suit.

Finance

Mobile banking and payment is a key consumer trend within the financial industry. Today, consumers want fast and accessible banking, all done via smartphone. 82% of all financial institutions now offer some form of mobile banking through mobile web or app, and the number of consumers using mobile banking is expected to grow to 1.75 billion within the next 5 years. With many consumers moving away from traditional forms of payment like cash, mobile payment apps have become more attractive options for many mobile users, especially with functions like bill-splitting and tap-to-pay. As consumer adoption of mobile banking and payment continues to increase, marketers can expect greater demand for fast and easy mobile services from financial institutions. Two-thirds of all mobile users have already clicked on an ad for mobile finance or banking at some point, and demand is only growing.

Automotive

In the automotive industry, mobile adoption has changed the way consumers shop for cars. The ability to easily look up and compare information on a desired vehicle has created a more savvy shopper, using their smartphones at the dealership to compare and research vehicles before they make a purchase decision. With consumers increased usage of smartphones to vehicle-shop, automotive advertisers are competing to capture their attention and expanding their focus on mobile advertising to seize this audience at a time when they are most likely to engage. Additionally, mobile experience has become more important than ever for these companies, with 71% of users having used a mobile app or web to click to enter an automotive website.

While mobile growth is slowing year-over-year, adoption is still increasing. As smartphones become more and more a part of our consumer-based lives, mobile experience and advertising importance will continue to increase. To read more on trends in mobile advertising, check out Marin’s Annual Mobile Report, which is filled with insights on the state of smartphone and tablet advertising over the past year and check out our industry infographic below.