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  • Marketing Trends

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    Andreja Andreev
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    63. Percent of marketing expenditures promote services to attract consumers. 76. Percent of banks introduced a new product or service in 2005, up from 70. Percent in 2003. Advertising remains the most widely used promotional tool in the industry.

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    63. Percent of marketing expenditures promote services to attract consumers. 76. Percent of banks introduced a new product or service in 2005, up from 70. Percent in 2003. Advertising remains the most widely used promotional tool in the industry.

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    Attribution Non-Commercial (BY-NC)
    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    17 vizualizări1 pagină

    Marketing Trends

    Încărcat de

    Andreja Andreev
    63. Percent of marketing expenditures promote services to attract consumers. 76. Percent of banks introduced a new product or service in 2005, up from 70. Percent in 2003. Advertising remains the most widely used promotional tool in the industry.

    Drepturi de autor:

    Attribution Non-Commercial (BY-NC)
    Descărcați ca PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    din 1

    2008 ABA Issue Summary

    Marketing: Trends in Bank Marketing


    Contact: Carol Kaplan, ABA Public Relations (202) 663-5471 or ckaplan@aba.com

    Bank marketing trends reflect the continuing boom in retail banking as banks compete for
    consumer accounts.
    • On average, 63.7 percent of marketing expenditures promote services to attract
    consumers. **

    • In 2005, 53.3 percent of banks used market segmentation – a strategy for targeting
    specific consumer groups – to promote products and services. **

    • 76.8 percent of banks introduced a new product or service in 2005, up from 70.3 percent
    in 2003. More than half the new initiatives were deposit related followed by gift cards,
    other debit cards, and online services like bill pay. **

    • The top marketing goals for banks in 2006 included customer acquisition, customer
    retention and increasing brand awareness.

    The majority of banks (71.1 percent) view marketing as a strategic driver for business.
    • 64.8 percent of banks said they planned on increasing their marketing expenditures in
    2006.

    Advertising remains the most widely used promotional tool in the industry.
    • Advertising, which includes direct mail, accounts for the largest share of marketing
    expenditures (52.9 percent)**

    • Newspaper ads account for about one third of advertising expenditures (31.1 percent). **

    • Homeowners were the most targeted segment banks were trying to reach in 2005
    (57.5 percent), with high-net-worth clients the second most attractive target group at 55.8
    percent.

    Background:
    Banks have been increasing their emphasis on marketing since the late 1990s as a changing
    financial landscape has broadened opportunities for new products and increased competition.
    Bank marketing efforts are now focusing more on customer needs and have less emphasis on
    simply pushing products.

    Competition from financial and non-financial institutions, branding (differentiating one bank
    from another), technology, and customer relations management are among the top marketing
    challenges banks have identified for the near future.

    **Source: 2006 ABA Bank Marketing Survey Report

    AMERICAN BANKERS ASSOCIATION 71

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