Financial marketers notably increased their investment in programmatic media during the third quarter, according to Casale Media's Index Exchange.
Programmatic spending by financial and brands increased 53.2% over the previous quarter in Q3 2014, the company said Thursday in its quarterly programmatic spending report. Casale/Index Exchange was unable to provide YoY change in financial industry spending.
American Express, Citigroup and Progressive Group were among the top spenders on programmatic within the financial sector. Casale said the surge is related to programmatic dabblers – particularly Progressive – getting serious.
"Those who have been historically involved are now allocating more, in a more meaningful way. And their competitors are now all recognizing the potential and are following suit,” said Alex Gardner, VP of platform solutions at Index Exchange.
“Progressive has not historically been among the top financial spenders, but they’re now representing meaningful spend, not only within that specific sector but more broadly across sectors,” Gardner added. “Overall, there’s an increasing level of competition.”
The sequential increase was not limited to finance. Investment in automation increased across all verticals except business, which remained flat relative to Q2, with a notable uptick in spend from the financial sector.