Do banks that outspend their peers on marketing grow faster?
In this study of banks with $2 billion to $10 billion of assets, we analyze their investment in marketing against growth in loans, deposits and revenue. Here’s what we found.
A perennial question for marketers is, how much should we be spending?
Community banks have never had the budgetary freedom to spend with reckless abandon, as many fintechs and neobanks did before the capital spigot stopped flowing so freely.
So bank marketers tend to look for benchmarks for their budgets — to see if they are investing less in growth than their peers and to figure out how much they should request at budget-setting time.
This analysis of bank marketing spending — which focuses on banks with assets of $2 billion to $10 billion as of yearend 2022 — aims to help.
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