Savvy savers are getting even savvier as a result of the cost of living crisis. Undoubtedly, part of their journey to better money management involves trusted, premium publisher content. Our latest insight feature explores how what we know about consumer reading habits can inform ISA season campaigns.
The cost of living crisis has made more consumers savvy about money management. Recent news that a record number of them changed banks in Q4 last year to capitalise on switching incentives is a recent example of this behavioural shift.
There’s no doubt that premium publishers play a crucial role in guiding consumers on their journey to better money management as costs continue to rise. We saw this last year as millions of our readers turned to our publishers to help navigate the cost of living (read more about that here, in our Ozone Opinion piece about the topic).
Of all our main content categories, Personal Finance – where editorial related to both money management and the cost of living can be found – was 2022’s biggest by annual engagement growth. More than 650m annual page views increased by a staggering +80%.
This year, as the crisis continues, we can expect consumers to continue to lean in to trusted, premium publisher sources for clear information and guidance when it comes to managing their personal finances.
Take the ISA season, for example, which we’re currently in the midst of. While high interest rates are bad for borrowing, it’s actually a pretty good time for those looking to save. As the April deadline for ISA applications approaches, we’re seeing more and more everyday savers and investors looking to our publishers for guidance.
Looking back at the ISA season last year, 56m Personal Finance page views in March 2022 increased by +31% compared to the month before. That was the joint highest monthly rate of growth for the category last year – matched only by September’s growth when Liz Truss’s mini-budget sent the financial markets into turmoil causing the economy to wobble.
We can expect a similar pattern in March this year as the April deadline approaches and more savers look to capitalise on those high interest rates to lock in better saving products. As such, we’ve built specific segments for brands to activate campaigns by targeting this in-market audience, and identified a 30m-strong Personal Savers audience to tap into. Already this year, the first two weeks of January saw the number of engaged readers surpass the number for the whole of January 2022.
As with previous ISA seasons, engagement is likely to be at its highest in March so brands should focus campaign delivery during this time and run impactful and engaging formats such as video and interscrollers to maximise outcomes.
This audience is ready to go and can be activated against immediately. For more information about how Ozone can connect you to in-market consumers this ISA season, please reach out to your agency or client sales representative or email hello@ozoneproject.com.