Twitter marketing for financial services

July 28th, 2020 | Jeannette Ornelas

More eyes (and spend) on Twitter 

Daily Twitter usage, among adults aged 18+, increased nearly 20% from January to June 2020. While finservs increased Twitter spend nearly 30% Q/Q overall, Twitter only accounted for 2% of financial services advertisers’ digital spend, which means competition for shared customer bases may be lower. 

Why did Twitter marketing increase in Q2? 

Increased Twitter marketing capitalized on increased Twitter usage, particularly among men.  

Mastercard diversified its nearly $2M in digital ad spend, with more than 30% going to Twitter, while Visa allocated more than 75% of its more than $1.5M in digital ad spent to video.

How did Visa and Mastercard shift their Twitter marketing? 

Increased health/safety precautions created an opportunity for credit card networks to promote contactless features. Twitter mentions of ‘contactless payments’ increased 150% Q/Q and have remained steady.

Visa missed an opportunity to boost awareness of its contactless features…Q/Q Visa promoted its tap to pay feature with limited spend, while Mastercard spent over $125k to promote contactless payments in Q2.

Amid sports cancellations, Capital One capitalized on presenting live event sponsorships. Twitter is an optimal platform for engaging with fans in real-time and generating earned media during live events. 

In response to COVID-19, Discover shifted its Twitter marketing from card signups to customer support—a strategic move given Twitter’s role as a customer care channel.

What we think  

More eyes on Twitter, and low overall spend, means brand awareness is a low-cost objective.

Twitter use is increasing…

At a time when daily use is on the rise, those who can afford to run campaigns are doing so in a more favorable market for attention.

…and competition is lower.

As many advertisers paused or reduced their campaigns amid COVID-19 induced budget restrictions, competition for shared customer bases is lower, making spend even more impactful.

Jeannette Ornelas

Jeannette Ornelas

Jeannette Ornelas is a Senior Digital Marketing Analyst for Comperemedia. Jeannette is responsible for producing syndicated and custom reports and providing marketing insights across a range of industry sectors and channels.