US Banking Digital Ad Spending 2023

Banks Can Weather the Slowdown by Maximizing Ad Dollars

Report by Eleni Digalaki  |  Sep 19, 2023
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Executive Summary
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Table of Contents
Executive Summary
Bank marketers must do more with less as economic uncertainty stalls growth.
The tough environment facing banks is curtailing spending growth.
But spending will still grow thanks to big banks and the ongoing shift to digital.
How can bank marketers maximize digital ad dollars in 2023 and prepare for a 2024 rebound?
Insider Intelligence Interviews
Sources
Media Gallery
About This Report
US banking digital ad spending growth has slowed to a trickle and pushed marketers to rethink their allocation strategies. But 2024 looks more promising.
Topics
Banking
Digital Ad Spending
United States
Table of Contents
Executive Summary
Bank marketers must do more with less as economic uncertainty stalls growth.
The tough environment facing banks is curtailing spending growth.
But spending will still grow thanks to big banks and the ongoing shift to digital.
How can bank marketers maximize digital ad dollars in 2023 and prepare for a 2024 rebound?
Insider Intelligence Interviews
Sources
Media Gallery

Banking digital ad spending growth slowed considerably in 2022 and will stay muted this year, falling far below the US average for spending overall. Instead, advertisers are focused squarely on maximizing digital ad dollars and demonstrating performance.

Key Question: How will banking digital ad spending evolve through 2025, and what will it mean for bank marketers?

KEY STAT: US banking and lending digital ad spending is facing another year of low-single-digit growth amid industry and economic uncertainty. But we expect a 2024 rebound as the environment improves and regional banks contribute more to the pie after a tough 2023.

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    Table of Contents

    1. Executive Summary
    2. Bank marketers must do more with less as economic uncertainty stalls growth.
    3. The tough environment facing banks is curtailing spending growth.
    1. But spending will still grow thanks to big banks and the ongoing shift to digital.
    2. How can bank marketers maximize digital ad dollars in 2023 and prepare for a 2024 rebound?
    3. Insider Intelligence Interviews
    1. Sources
    2. Media Gallery

    Charts in This Report

    US Financial Services Digital Ad Spending, 2021-2025 (% change)Average Time Spent per Day With Digital Video vs. TV by US Adults, 2021-2025 (hrs:mins)
    US Adults Who Are Concerned About the Use of Personal Information for Targeted Digital Ads, by Age, March 2023 (% of respondents in each group)

    Interviewed for This Report

    Alak Shah
    Truist
    Senior Vice President, Head of Integrated Media
    Interviewed August 30, 2023

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    Download
    Report
    Executive Summary
    Share
    Table of Contents
    Executive Summary
    Bank marketers must do more with less as economic uncertainty stalls growth.
    The tough environment facing banks is curtailing spending growth.
    But spending will still grow thanks to big banks and the ongoing shift to digital.
    How can bank marketers maximize digital ad dollars in 2023 and prepare for a 2024 rebound?
    Insider Intelligence Interviews
    Sources
    Media Gallery
    About This Report
    US banking digital ad spending growth has slowed to a trickle and pushed marketers to rethink their allocation strategies. But 2024 looks more promising.
    Topics
    Banking
    Digital Ad Spending
    United States
    Table of Contents
    Executive Summary
    Bank marketers must do more with less as economic uncertainty stalls growth.
    The tough environment facing banks is curtailing spending growth.
    But spending will still grow thanks to big banks and the ongoing shift to digital.
    How can bank marketers maximize digital ad dollars in 2023 and prepare for a 2024 rebound?
    Insider Intelligence Interviews
    Sources
    Media Gallery
    Download PDF

    authors

    Eleni Digalaki

    Contributors

    Ross Benes
    Senior Analyst
    Oscar Orozco
    Director, Forecasting

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