Member Exclusive, Modern Marketing

Research: Financial marketers are preparing for 2020 — what are they investing in?

  • Digital marketers are prepping their spend for 2020 now.
  • New data show in which channels they intend to spend those marketing dollars.
close

Email a Friend

Research: Financial marketers are preparing for 2020 — what are they investing in?

It’s that time of year again. Marketers at fintech and incumbent financial services firms are setting their budgets for 2020. As a service or technology provider selling into financial brands, it’s important to understand what they fell about their current challenges and opportunities.

Dianomi, a native ad platform for business and finance, commissioned a study with Gramercy Institute, an organization of financial marketers. The survey polled 100+ senior marketers who work in finance.

Top goals for financial marketers in 2020

Brand awareness remains the top goal for financial marketers going into next year. Being able to stand out in a field with rapidly growing new options is a challenge, especially as core banking services are becoming commoditized. After branding, financial marketers are charged with bringing in new customers. Acquisition, for fintechs and FIs, will remain a challenge in 2020.

Financial marketers plan to increase certain investments

In addition to setting budgets, marketers need to make allocations to specific channels. The Dianomi survey asked marketers specifically which channels they plan on increasing spend in. Top of the list is paid search, and that makes sense. Bank of America ranks atop the best firms at paid search marketing. Other usual culprits like email marketing and branding are also top of mind for marketers. Interestingly, a good chunk of marketers (26.1 percent) are looking to increase video advertising on channels like YouTube.

In-house versus agency spending in 2020

The trend of bringing more marketing work in-house continues. Nearly half (47.6 percent) of all marketers plan to bring more work inside their firms. Of those firms that do outsource to marketing agencies, nearly a third (29.8 percent) plan on consolidating work to a single agency.

Obstacles to investments in financial marketing in 2020

The marketing day is long and the work great, and marketers still feel very challenged to execute on their mandates. They want more money to do what they do and feel stymied by limited budgets (59 percent). The increasingly competitive landscape is also hampering their work (43.4 percent). 16.9 percent of marketers believe the economic landscape will prove to be an obstacle in 2020.

What do customers value most in relationship with your brand?

The survey asked marketers what attributes they believe resonate with their customers. Experience and trust rank highest (over 60 percent).

Which of the following digital marketing issues will negatively impact your campaigns the most

In spite of all the advances in data and reporting, financial marketers (82.5 percent) complain that they don’t get a full view of their campaigns, preventing them from judging the success of their marketing spend.

Biggest marketing challenges in 2020

Financial marketers want agencies to be more proactive in 2020

One of the challenges financial marketers cite is that they (31.7 percent) want their digital agencies to be more proactive in getting campaigns up, running, and optimized. Only a few marketers (11.4%) feel their agencies are keeping up.

0 comments on “Research: Financial marketers are preparing for 2020 — what are they investing in?”

Modern Marketing

Through their ‘Tap to Ride’ campaign, Visa and Chase give another incentive to start using contactless

  • More people are returning to the office, which means more commuting
  • Visa and Chase have been using this as an opportunity to launch their ‘Tap to Ride’ campaign
Rivka Abramson | September 27, 2021
Member Exclusive, Modern Marketing

Ally highlights bootstrapped Olympic athletes gunning for gold in a new campaign

  • Ally launched a national campaign called The Unsponsored featuring athletes with little to no financial backing.
  • Ally also donated $250,000 to three athletes to help them along their journeys to being the best in their sport.
Shehzil Zahid | August 12, 2021
Member Exclusive, Modern Marketing

‘Cool Hats’: A look inside Visa’s new campaign to refresh its brand

  • Visa is mostly known as a credit card company.
  • With its ‘Meet Visa’ marketing campaign, the company hopes to change that.
Rivka Abramson | August 05, 2021
Member Exclusive, Modern Marketing

‘Quick, tangible, teachable moments’: Financial literacy could be the ticket to Gen Z appeal

  • Consumers are putting more importance than ever before on financial literacy, especially Gen Z.
  • As Gen Z takes up more space in the adult population, financial literacy could be a way to get early access to a loyal user base.
Rivka Abramson | July 16, 2021
Member Exclusive, Modern Marketing

Marcus by Goldman Sachs’ “You Can Money” campaign positions the bank as Main Street’s primary account

  • A new campaign for Marcus by Goldman Sachs features actress Rosamund Pike, as the brand’s character 'M'.
  • The advertising targets the mass market with a message that Marcus is a viable primary account.
Zachary Miller | July 15, 2021
More Articles