Email is the second most popular channel among financial brands, judging by a new study commissioned by Dianomi, a native ad platform, and Gramercy Institute.
Of the financial marketers polled, 33.7% plan to increase their spending on email in 2020, putting that channel second only to paid search, which will see a rise of 38%.
In contrast, only 2.2% plan to boost their investment in TV. However, 26% apiece will budget more for branding and video advertising. And 18.5% will allocate increases for podcast advertising and 10.9% for connected TV advertising.
Overall, financial brands will increase their marketing spend by 10% next year.
That said, 47.6% expect to bring more marketing work in-house. And 32.1% will go in the opposite direction.
At the same time, 29.8% will probably increase their agency budgets, and 29.8% will consolidate their outsourcing to one-stop agencies.
Their top marketing goals are brand awareness (28.2%) and customer acquisition (25.9%).
But financial brands face many digital marketing challenges, including:
Indeed, financial marketers are already facing negative effects from the following issues (the respondents were asked to check off three):
Asked what their customers value most, the respondents cited these attributes:
Dianomi and Gramercy Institute surveyed over 100 senior financial marketers.