The banking industry has weathered the storms of 2023, although it is still dealing with the implications of elevated interest rates. The almost ubiquitous search for deposits, combined with depressed margins, placed pressure on bank marketing teams in 2024. The new year promises to be equally full of surprises, given the start of declining interest rates and a new political climate. However, one thing is not expected to change – the need for low-cost deposits to fuel (hopefully) increased commercial loan growth.
Deposit growth will be fueled by a balanced approach of new customer acquisition, existing customer relationship deepening and improved retention, especially of larger deposit customers. This objective was top of mind among the bank marketers we spoke to, as they offered their input to what trends are going to drive bank marketing in 2025. A recent ABA survey of bank marketers provided additional input, as did generative AI.
The survey identified six emerging trends that indicate a significant shift towards more customer-centric, flexible and technologically integrated marketing approaches in the banking sector as we move into 2025. Take a deep dive into these trends in Mark Gibson’s new ABA Banking Journal article.
