70 Percent of Finance Shoppers Research on Reddit
Reddit held its first FinServ Summit in New York last month and used it to present a case for the platform as a serious channel for financial services marketers. The headline figure, drawn from a survey of 2,000 people, is that 70% of finance shoppers conduct research in the app and trust community insights when validating major purchase decisions.
The platform's argument is that its expert communities occupy a specific moment in the research journey: not the starting point, but the pressure-test. Users come to Reddit to validate what they have seen elsewhere and weigh multiple perspectives before committing. More than half of Americans turn to the platform weekly for answers, according to ComScore data Reddit cited at the summit.
On the advertising side, Reddit said interactive ad formats are delivering nearly twice the engagement performance in the financial services category compared to benchmarks, and that video now represents one third of content and advertising on the platform.
The brand-building claim is backed by a Kantar and TransUnion study Reddit commissioned, which found the platform outperforms other social channels for brand growth over time, with the gap versus other social platforms widening specifically in financial services.
Full story: Social Media Today
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