How much should banks really be investing in marketing —and how does that compare to the rest of the competitive landscape?
New analysis from CPG’s Ally Akins, Claude Hanley and Matthew Prince, featured in The Financial Brand, takes a closer look at marketing spend across financial institutions and uncovers a wide range of approaches. The data shows that while some banks are leaning into marketing as a growth driver, others remain far more conservative—creating a noticeable gap across the industry.
One of the most important dynamics highlighted in the analysis is the contrast between traditional banks and fintechs. Fintech companies continue to invest more aggressively in marketing, particularly for customer acquisition. This has intensified competition and raised expectations around how institutions attract and retain customers.
At the same time, the role of marketing itself is evolving. Rather than functioning as a standalone support activity, marketing is increasingly being aligned with core business objectives, including deposit growth and overall performance. This shift is prompting more institutions to reevaluate how their budgets are structured and how effectively those dollars are being deployed.
The findings also underscore that there is no single “right” level of spend—but there is a growing need for intentionality and alignment. Banks that are more deliberate in how they invest in marketing are better positioned to compete in an environment where visibility, acquisition, and customer engagement are critical.
The Bottom Line
As competitive pressures mount—particularly from well-funded fintechs—the question is no longer whether to invest in marketing, but how strategically that investment supports growth. CPG’s benchmarks offer a timely lens into how the industry is evolving—and where opportunities remain for banks willing to rethink their approach.
Read the full article on The Financial Brand; to learn more about CPG’s Marketing and Sales consulting services, click here.
