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Marketing Briefing: Why banks are outsourcing their marketing initiatives

  • Banks are diving headfirst into marketing, but how are they organizing their marketing strategies?
  • Plus, VP head of sales and marketing at Kabbage from American Express Brett Sussman dives into the company’s latest research into SMB recovery.
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Marketing Briefing: Why banks are outsourcing their marketing initiatives

As competition in the financial space increases, banks are giving their marketing tactics much more importance. But marketing often requires a data-heavy approach. Marketers onboard can have trouble navigating various sources of data. That’s where outsourcing is coming in. On average, banks are outsourcing at the very least 20%, and on average just over 70%, of their marketing operations, according to a survey by the American Bankers Association. 

Source: ABA

Branding and creative (65%), ad placement and billing (53%), and digital and social media strategy and advertising (48%) are the top categories banks are outsourcing to agencies.

 


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