In-app advertising is the new darling of mobile. As consumers spend more and more time on app-based mobile devices and s
HOW BANKS SPEND THEIR
MARKETING
BUDGET More than 40% of banks have dedicated more than 1/4 of their budget to digital initiatives.
1
2
3
4
SOCIAL MEDIA ADVERTISING
MOBILE ADVERTISING
PAID SEARCH
SOCIAL MEDIA SOFTWARE
FACEBOOK BENEFITS: Create costeffective hyper-targeted campaigns. Set a daily, weekly, or monthly budget (as little as $20 for a week) and Facebook takes care of the rest. AVG CPC: 0.55
TWITTER BENEFITS: Cut through the noise on Twitter and reach your targeted audience.
LINKEDIN BENEFITS: Valuable for loan officers or financial advisors who need to reach referral partners, or prospects who might not be on Facebook or Twitter. LinkedIn tends to be a bit pricier in terms of cost per click. AVG CPC: $5.74
According to a recent study, mobile advertising is on the rise, and set to account for
58
% OF ALL ONLINE ADVERTISING IN
2018. In-app advertising is the new darling of mobile. As consumers spend more and more time on app-based mobile devices and smart phones, it makes sense to leverage your bank’s mobile app by hosting a few ads. In-app advertisements tend to have higher conversion rates. Don’t have a mobile app? Make app development priority number one for the new year!
Search Engine Marketing (SEM) gives your search rank a boost, and offers a variety of options for display and retargeting. Paid search can be a bit trickier, as it involves keyword research and basic knowledge of search engine optimization (SEO). Buying expensive, broad match keywords, or failing to exclude negative keywords, can result in your ad turning up in irrelevant searches, high cost per click, and poor quality leads. On average,
RETAIL BANKS SPENT
$1 FOR EVERY
$53,000
IN ASSETS
Create efficiencies and reduce friction with your compliance team by investing in social media compliance & management technology. Software ranges from the very inexpensive ($0 per month), to the very high-ticket, on premise platforms in the $60-$70k a year range, and all points in between. Before you start researching, make decisions about what features are “must-haves” versus “nice-to-haves.”
AT A MINIMUM, BANK MUST-HAVES ARE: • • • •
Archiving Approval processes Team management Web and social media monitoring • Multi-network publishing • Web-based/in the cloud
NICE-TO-HAVES MIGHT INCLUDE: • Content management • Professional services
