This week’s guest blog post is contributed by Mark Treacy, Sr. Client Partner, Oracle Data Cloud.
It’s fair to say that—up until this point—programmatic advertising has not captured the attention and budgets of Financial Services (FS) B2B marketers.
At least not in the way it has for their Tech & Telco counterparts, with adoption in the vertical being relatively limited.
However, change is afoot. As FS B2B marketers begin to reap the benefits of past investments and respond to broader industry trends, I predict they’ll firmly embrace programmatic advertising in 2018.
Let’s examine four reasons why.
Gartner’s 2012 prediction that by 2017 CMOs would spend more on IT than on CIOs was spot on.
Over the past five years, marketers invested heavily to build a technology infrastructure that drives increased ROI across their advertising spend.
In B2B FS, the most advanced marketers have woven disparate solutions—DMP’s predictive and website analytics tools, first-party data cleansing, etc.—into an integrated stack, greater than the sum of its parts.
Many enter 2018 possessing the infrastructure required to experience the full benefits of programmatic media buying.
Leveraging data to accurately reach key audiences with your digital media spend is critical.
In B2B, recognizing the growing selection of data targeting options available, marketers use programmatic to implement an “audience first” approach across their digital media buying, transitioning away from a publisher, or channel, first mindset.
In Financial Services—an industry that places heightened importance on brand safety and premium ad placement—this transition is slower.
Marketers took time to put the necessary safeguards and partnerships in place: robustly vetted whitelists, verification tools, PMP set-ups with premium publishers, etc.
As a result, the transition is poised to accelerate in 2018.
Ongoing concerns regarding brand safety and transparency, particularly pronounced in FS, have stymied the flow of media dollars into programmatic.
A recent ANA survey of 149 senior marketers revealed increased numbers are building programmatic capabilities in house, with 69 percent now handling their own programmatic and campaign strategy.
Many FS marketers also enter 2018 possessing greater in-house expertise and the level of transparency and control they deem necessary to move significant B2B media budget toward programmatic advertising.
Combining programmatic media buying and audience data, B2B marketers began executing Account Based Marketing (ABM)—targeting employees of a specific set of companies— on a scale not previously possible.
Tech & Telco marketers, working for companies where ABM is a widely used strategy, are quick to embrace programmatic ABM.
In 2018, the conditions will facilitate similar adoption of ABM in Financial Services.
Marketers in Institutional Asset Management & Commercial Banking, whose focus on reaching large enterprises lends itself to the approach, see positive results from pilot programs and made ABM a core part of digital plans for the year ahead.
Meanwhile, new data targeting options will enable marketers in Business Banking & Insurance to execute a programmatic ABM approach to thousands of small businesses within their databases for the first time.
There’s a lot to cover with Financial Services for B2B marketers in 2018, but the insights don’t stop here.
Our teams at Oracle Data Cloud can help you navigate this evolving landscape.
About Mark Treacy
Mark is Head of Sales for B2B at Oracle Data Cloud. In his role, he leads a team of senior client partners to deliver against key business objectives for global B2B marketers including: driving increased ROI from digital media spend, ensuring advertising is appearing in the "right" digital environments, and building successful ABM programs. The team focuses on leveraging Oracle's full suite of technology and data capabilities to create winning audience targeting strategies and custom solutions.