Executive Summary

• The Financial Services industry had an estimated total ad spend of 1.5B dollars and registered constant growth from January 2020 to April 2021.
  
  

• Facebook accounted for the most ad spend in the industry (63.5% of the total ad spend) and consequently had the highest share of the impressions out of three analyzed platforms (58.8%).

• The Top 10 Brands with the highest ad spend had an average cost per thousand impressions (CPM) of $7.28. Advertisers that make ads relevant to their users and engage with the target audience will be rewarded by Facebook by showing the ad to more people for less money - hence, lower cost per impression. 

• Key challenges identified in the engagement of Financial Services Top Brands ads included a high volume of comments in which users attacked and criticized the brands, customer complaints, and customer inquiries left unresponded. However, even for brands with high response rates, there were still opportunities to respond to customers and increase customer satisfaction.