CHICAGO – March 6, 2017 – BAI, a nonprofit independent organization that delivers the financial services industry’s most actionable insights, launched its new Marketing Benchmarking Research Program.
This program provides marketing leaders with comparative analytics to help them understand how their marketing budgets, organizational structure and acquisition costs compare to their competitors. Additionally, the program helps leaders better understand their investments and effectiveness in relation to their peers as they set and assess their strategic plans.
The BAI Marketing Benchmarking Program will provide meaningful comparable metrics for the following categories:
- Spend by channel, such as marketing through print, digital channels or television;
- Amount spent on partnering with third-party marketing agencies, such as marketing spend overall, the cost of produced content, creative and production; and
- Marketing technology expense.
Marketing Organization Structure
- Evaluating whether a financial services organization has a centralized, decentralized or matrixed marketing structure and how it compares to competitors; and
- Staffing level comparisons, including turnover rates and time to hire;
Marketing Efficiency and Effectiveness
- Marketing acquisition costs at both a customer and product level;
- Marketing spend as a percentage of assets or deposits; and
- Marketing spend in comparison to overall revenue or income figures.
“Marketing has become one of the most heavily discussed and rapidly changing aspects of the financial services industry throughout the past few years, yet there is little information available on how banks compare to their peers in terms of marketing spend and effectiveness,” said Karl Dahlgren, managing director for BAI. “By supplying comparative analytics on budgets, infrastructure and acquisition costs, financial services leaders are equipped with the information they need to understand how their marketing investments compare and perform relative to their competitors and determine opportunities for greater efficiency and effectiveness.”
BAI is inviting banks to participate in this comparative analytics program. For more information about joining the BAI Marketing Benchmarking program, please contact BAI.
As a nonprofit, independent organization, BAI delivers the financial services industry’s most actionable insights, enabling leaders to make smart business decisions every day. We’re passionate about the trusted information and powerful tools that provide leaders with the clarity and confidence needed to drive positive change and move the financial services industry forward. For more information, visit www.bai.org.
About BAI’s Research
BAI provides trusted, in-depth comparative analytics, including benchmarking research on consumer, commercial and small business deposit performance, talent management, marketing spend and other strategic areas for U.S. banks. BAI’s analytics provide meaningful comparisons and allow financial services leaders to better understand their position relative to others in the industry. In addition to comparative analytics, BAI conducts a broad range of research on industry trends and consumer behavior to help financial services leaders fully grasp today’s business dynamics and gain insight into the future. For more information, visit www.bai.org/research.