2020 Foresight Report: Digital Marketing in Financial Services

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Dec 17, 2013, 10:17 ET

NEW YORK, Dec. 17, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

2020 Foresight Report: Digital Marketing in Financial Services

http://www.reportlinker.com/p01930466/2020-Foresight-Report-Digital-Marketing-in-Financial-Services.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Marketing

Synopsis

The report provides market analysis, information and insights on digital marketing in the financial services industry:
• Provides a global snapshot of digital media and growth opportunities for the financial services industry
• Provides details of different digital media channels across markets and the influence of these channels on consumer purchasing decisions
• Analysis of digital marketing opportunities and challenges for financial services companies
• Detailed analysis on leading financial services companies and their marketing through digital media channels
• Analysis of digital marketing strategies adopted by leading financial services companies operating in various markets

Summary

As internet access and smartphone adoption increase, a growing number of internet users are accessing digital media channels such as social media, mobile and videos. Banks and insurance companies are developing their processes and employing such channels to be able to respond to web-based consumers, create brand awareness, promote new products and services, identify customer needs and elicit feedback. Digital media channels are increasingly being used by companies around the world as a strategic marketing tool. They are primarily used to advertise products and services, identify sales opportunities and ensure brand monitoring. Budget allocations to digital media marketing are expected to increase over the forecast period (2013–2017). During the review period (2008–2012), worldwide digital advertising expenditure rose from US$53.7 billion in 2008 to US$95.7 billion in 2012, at a CAGR of 15.52%. It is expected to nearly double between 2012 and 2017 to reach US$168.4 billion, after registering a forecast-period CAGR of 11.34%. The popularity of social media and growth in smartphone and tablet usage has created new opportunities for digital advertising. During the review period, digital advertising has progressed with the introduction of dynamic messaging and interactive video.

Scope

• This report provides a comprehensive analysis of digital marketing strategies adopted by financial services companies
• It provides current and future scenarios of digital media and its impacts on the financial services industry
• It details various benefits available to and challenges faced by financial services companies while adopting digital marketing strategies
• It provides case studies on digital marketing strategies implemented by various financial services companies and their outcomes

Reasons To Buy

• Understand the dynamics of the digital media landscape across the key markets worldwide
• Assess the current and future opportunities of digital marketing in the financial services industry
• Gain insights into digital marketing strategies adopted by financial services companies
• Gain insight into various challenges faced by financial services companies in digital marketing across all the key markets

Key Highlights

• Financial services companies are increasingly using social media and mobile to communicate with customers and to promote their products and services.
• In 2012, global digital advertising expenditure accounted for 18.9% of the total advertising spend. Its share is expected to increase to reach 26.9% by 2017. A number of companies are shifting from traditional print and TV media to digital advertising due to the increase in internet usage to communicate, publicize and attract customers.
• Rapid growth in smartphone use and the accessibility of social media through smartphones is also providing banks and insurance companies with opportunities to connect with customers. A considerable portion of advertisement revenue on social media sites is generated through this platform.
• Despite their benefits, digital media channels also pose challenges in terms of data security concerns and the associated legal and reputational risks. To curb such risks, banks and insurance companies set up teams to exclusively handle customer queries and resolve issues on social networking sites.
• Financial services companies should identify the business areas where digital media can be most beneficial before investing. It is suggested they run a small pilot scheme before launching a full-scale, enterprise-wide implementation of digital media tools.

Table of Contents

1 Executive Summary
2 Market Size and Outlook
2.1 Share of Digital Marketing Channel
2.2 Global Digital Advertising Spend
2.3 Regional Analysis – Adoption of Digital Marketing
2.3.1 Americas
2.3.2 Europe
2.3.3 Asia-Pacific
2.3.4 Middle East and Africa
3 Key Trends and Drivers by Digital Channels
3.1 Social Media
3.1.1 Trends and drivers
3.2 Videos
3.2.1 Trends and drivers
3.3 Mobile
3.3.1 Trends and drivers
3.4 Games
3.4.1 Trends and drivers
3.5 Banners, Search Engines and Email
3.5.1 Trends and drivers
4 Best Practices in Digital Marketing
4.1 Wells Fargo Employed Digital Channels to Promote its Mobile Banking Services
4.2 Hiscox's Multi-Channel Digital Campaign for Small Business Liability Insurance
4.3 Future Generali Introduced a Video-Recorded Message Strategy
4.4 Patriot Insurance Agencies Launched Digital Marketing for its New Interactive Website
4.5 Barclays Introduced an Online Platform Allowing Customers to Share Ideas
4.6 Challenges for the Year Ahead
5 Appendix
5.1 Methodology
5.2 Contact Timetric
5.3 About Timetric
5.4 Timetric's Services
5.5 Disclaimer

List of Tables

Table 1: Global Advertising Expenditure (US$ Billion), 2008–2017
Table 2: Global Digital Advertising Expenditure (US$ Billion), 2008–2017
Table 3: Major Industry Advertising Expenditure through Google (US$ Billion), 2011
Table 4: Global Digital Advertising Expenditure by Region (US$ Billion), 2008–2017
Table 5: Global Digital Advertising Expenditure by Region in Financial Services (US$ Billion), 2008–2017
Table 6: Digital Advertising Expenditure by Key Countries in the Americas (US$ Billion), 2008–2017
Table 7: Digital Advertising Expenditure in Financial Services by Key Countries in the Americas (US$ Billion), 2008–2017
Table 8: Digital Advertising Expenditure by Key Countries in Europe (US$ Billion), 2008–2017
Table 9: Digital Advertising Expenditure in Financial Services by Key Countries in Europe (US$ Billion), 2008–2017
Table 10: Digital Advertising Expenditure by Key Countries in Asia-Pacific (US$ Billion), 2008–2017
Table 11: Digital Advertising Expenditure in Financial Services by Key Countries in Asia-Pacific (US$ Million), 2008–2017
Table 12: Digital Advertising Expenditure by Key Countries in the Middle East and Africa (US$ Million), 2008–2017
Table 13: Digital Advertising Expenditure in Financial Services by Key Countries in the Middle East and Africa (US$ Million), 2008–2017
Table 14: Internet and Mobile Penetration Across Developed and Emerging Markets, 2011
Table 15: Global Markets by Unique Video Viewers, December 2012
Table 16: Mobile Penetration in Developed and Emerging Markets, 2011

List of Figures

Figure 1: Global Advertising Expenditure (US$ Billion), 2008–2017
Figure 2: Global Digital Advertising Expenditure (US$ Billion), 2008–2017
Figure 3: Major Industry Advertising Expenditure through Google (US$ Billion), 2011
Figure 4: Global Digital Advertising Expenditure by Region (US$ Billion), 2008–2017
Figure 5: Global Digital Advertising Expenditure by Region in Financial Services (US$ Billion), 2008–2017
Figure 6: Digital Advertising Expenditure by Key Countries in the Americas (US$ Billion), 2008–2017
Figure 7: Digital Advertising Expenditure in Financial Services by Key Countries in the Americas (US$ Billion), 2008–2017
Figure 8: Digital Advertising Expenditure by Key Countries in Europe (US$ Billion), 2008–2017
Figure 9: Digital Advertising Expenditure in Financial Services by Key Countries in Europe (US$ Billion), 2008–2017
Figure 10: Digital Advertising Expenditure by Key Countries in Asia-Pacific (US$ Billion), 2008–2017
Figure 11: Digital Advertising Expenditure in Financial Services by Key Countries in Asia-Pacific (US$ Billion), 2008–2017
Figure 12: Digital Advertising Expenditure by Key Countries in the Middle East and Africa (US$ Million), 2008–2017
Figure 13: Digital Advertising Expenditure in Financial Services by Key Countries in the Middle East and Africa (US$ Million), 2008–2017
Figure 14: Social Networking Platforms and Their Usage
Figure 15: Broadband Internet Users on Mobile Devices (Million), 2009–2013