Analysts predict that online ad spending in the US alone is going to jump to over US billion this year, a significant increase of up to 20% as compared to 2010. This rise in online ad spending is forecasted to grow even more, reaching nearly US billion by the year 2015.
Traditional brick and mortar services have been made almost obsolete by modern advancements such as the internet. More and more people are opting for convenient and easily-accessible modes of payment and money transfers. Due to this, online display ads have been proven to be effective in generating leads and attracting new customers.
Display advertising, in particular, has been a driving force in this growth. Brand-friendly ad formats like banner ads, sponsorships, and video ads are gaining more leverage and are growing even faster.
Financial service companies have begun to understand this changing landscape and optimise the effectivity of using display ad campaigns. This shifting of priorities, more than ever, will be shown to benefit various segments of financial services – brokerage, credit cards, banking and insurance firms, among others — and lead the way to a more progressive and dynamic industry in the long run.