The latest Harris Poll product category research highlights OOH’s value in creating consumer impact within the financial services category. The research details how many and what type of consumers recall OOH financial services ads, what they do because of OOH ad exposure, and what messages they find most compelling, which allows OAAA members to quickly convert the data into a marketing summary or pitch.

OAAA members can download the full study and infographic summarizing OOH’s value in the financial services category here.

OOH is a wise investment for banks and fintechs

63% of consumers recall recently seeing an OOH ad for financial products or services, and 42% saw one within the last month. Recall runs highest among men (71%), Gen Z (73%), Millennials (67%), and consumers in cities of 1M+ (73%).

The audience OOH reaches is receptive: 82% say they would be interested in some kind of financial services OOH message, and 73% of those who saw an OOH financial ad took a subsequent action.

Engagement: what consumers did next

The activations are digital first. The top three responses, an app download, a rate comparison, and a log-in to review offers, sit within a point of each other. A financial OOH ad is a digital activation prompt, which is where banks and fintechs want the customer to end up.

Ad messages: what consumers want to see

Credit card offers lead by 16 points, far ahead of any other message. Consumers respond to a specific, tangible offer: a sign-up bonus, a promotional rate, or a fee waiver.

Using the data to educate clients and prospects

• Open with the 63% recall figure and the 73% engagement rate. Financial advertisers may be evaluating OOH on reach, but this research augments the conversation by highlighting the consumer actions it generates.
• When it matches their KPI, clients should use OOH as an app-acquisition channel. Downloading an app is the single most common response (28%), and 27% logged into an app they already had. Banks and fintechs that track cost-per-install have a metric OOH can move.
• OOH messaging should lead with the card offer or the rate when the KPI is focused on credit card activation. A sign-up bonus or rewards message interests 45% of consumers, and promotional APRs are the second message (29%). A specific number gives consumers something to go compare, and 27% did.
• When appropriate, point clients to the demographics over-indexing with OOH financial ads. Gen Z, Millennials, men, and consumers in large metros recall these ads most, and digital banking benefits over-index in cities of 1M+ (35%).

OOH strategic marketing concepts

• Transit and commuter inventory: recall peaks in cities of 1M+ and among consumers under 45; station dominations, rail, and bus shelters can reach them on the device they will use for app downloads.
• Digital OOH with rate-of-the-week creative: APRs and promotional rates change; digital screens let the advertiser keep the posted rate current and competitive.
• Branch-proximity placements: 27% want nearby branch and ATM information and 21% visited a branch or ATM; a poster within walking distance is prime for pedestrian-oriented markets.
• Use mobile device activators in the creative: 19% of engaged consumers used a QR, tap, or text to apply or get details; pair offers with a scan that opens the application.
• Fintech launch campaigns: app-first brands with no branches have no local footprint; OOH gives them a physical presence in the markets where their target consumers already respond.