Email and Internet Top Direct Media Choices For Financial ServicesAccording to a recent Direct Marketing Association report, American financial services institutions
are increasing their use of direct marketing. The $13.4 billion that U.S. banks and credit institutions spent last year on direct marketing advertising generated $178.8 billion in sales. These sales
are forecast to hit $286.2 billion In 2012, according to the report.
The report also found that:
- Banks and credit card institutions had the best return on investment in this
sector in 2007 at $13.37 per dollar spent
- Financial services direct marketers mainly use non-catalog direct mail (41.8%) as their primary direct marketing channel
- Financial
services companies' advertising expenditures for commercial e-mail is expected to have the largest growth among all media types between 2007 and 2012 with a compound annual growth of
22.5%
- Internet advertising spending in this sector is projected to grow at the second highest rate, at 17.8 % each year from 2007 to 2012
- Telemarketing advertising
expenditures for the overall financial services sector are expected to reach $7.4 billion in 2008 and $8.4 billion in 2012
- Broadcast advertising sales are expected to climb 4.8% each
year from 2007 to 2012
- Insert media sales in the financial services arena will exceed $1.1 billion in 2008, with banks and credit institutions comprising half of
sales
- Financial services companies are projecting to spend less on print advertising than they currently do. Banks and credit institutions' ad spending is expected to decrease
0.5% by 2012
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