[Infographic] Where are your bank’s marketing dollars going?

If your financial institution is anything like the banks in a recent study performed by The Financial Brand, you’ve probably seen your marketing budget grow in recent years. In fact, you’ve probably seen your assets grow as well.

In our infographic below, find out how much banks have been spending on marketing and what that has meant for institution growth.

Bank Marketing ROI Infographic

So where are all those marketing dollars going? According to The Financial Brand’s research, most banks have set their targets on these key areas going into 2020:

Personalization — Banks want to make personal connections with their customers and marketing content must target them on an individual level.

Automation — Marketing needs to be quick, flexible, and capable of providing you with data that lets you know how the campaigns are performing. Automation helps banks meet these needs.

Social Media — Financial institutions are diving into social media advertising and benefiting from the ability to target customers by their region and demographics.

Customer Experience — Banks have recognized that customer experience (CX) doesn’t end at the branch doors. The expansion of digital banking means banks must strive to improve CX across all channels.

Analytics — Knowing who you’re targeting, why you’re targeting them, and if the targeting efforts are even working are data critical to creating marketing campaigns that drive bank growth. Everything campaign you launch must have you the data you need.

As fintechs and tech giants like Apple and Google muscle their way into the financial space, it’s more important than ever to make a real connection with your customers and be more than a faceless app or corporation.

Use your marketing to tell your story and grow your institution in 2020.

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