Digital ad spending forecast & trends for the credit union industry
What digital advertising trends are notable for the banking industry in 2014 and beyond? How much will financial marketers spend on paid digital advertising in the next five years? How does spending break down by marketing objective and format?
Advertising spending in paid digital media by the US financial services industry totaled $5.30 billion in 2013. According to a report from eMarketer, this number is projected to hit $6.20 billion in 2014 and rise to $9.57 billion by 2018, for a five-year compound annual growth rate of 12.5%.
Digital ad spending among financial marketers grew 15.3% in 2013 and is projected to increase another 16.9% this year, with growth rates tapering off but remaining positive through 2018. In a separate study by SMI, digital ad spending in the financial services category grew an estimated 17.0% last year— slightly more than eMarketer’s 15.3% rate of growth.
When looking specifically at digital marketing, the majority of financial marketers say they plan to maintain their current spending levels, with 42.9% opting for growth, and no respondents planning a digital pullback.
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