Online Advertising in India : BFSI sector set to increase spending

Business standard is reporting on how banking, financial services and insurance (BFSI) segment are steadily embracing Online advertising and how BFSI clients have managed to get up to 40 per cent of their total business leads from digital advertising. This segment accounts for almost 35 per cent of the total online ad spend in India the largest spender on online marketing after travel at 50 per cent.
Now the article doesn't clears the fact that instead of display advertising it is actually Search Marketing where this sector focuses on and its majorly insurance sector which has seen the highest success. Google India says search volume for insurance is steady and high throughout the year ads are targeted when user is in transaction mode while searching for an insurance policy user is more likely to click on the ad and then convert into sales lead which is the basis of SEM and hence works very well for insurance companies and banks trying to generate sales leads.
The article also quotes Vishal Gupta, associate director, marketing, Aviva Life Insurance saying that they spend 5 per cent of total ad spend on online marketing which shows how much greater scope is of transfer of ad spends to online medium. More or less the article paints a very rosy future for online marketing in India read the complete article here
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