How 3 bank marketers push—and win—for their budgets amid cost cutting
Spending on bank marketing didn’t contract between 2022 and 2023, but there was a notable slowdown in the growth of that spending, according to our analysis of annual call report data. So, we asked bank marketers in different parts of the country how they are responding to this trend and what tactics they are using to maximize their results.
With the banking industry so focused on expense control, how do marketers continue to make a case for their budgets? And how are they prioritizing which types of advertising to invest in?
We posed these questions — and a few more — to several bank marketers who are solving for challenges like deepening customer engagement and raising deposits.
They stressed the importance of documenting results.
“Remember, you are making a case for your budget all year long,” says Courtney O’Regan, the director of marketing at Middlesex Savings Bank in Natick, Mass. “Provide regular reporting on campaigns and tactics throughout the year.”
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