Only 5% of the marketing budget is allocated by Financial Institutions to online marketing. This is one of the results of recent The Financial Brand’s 2010 Online Marketing Study. 154 US financial institutions participated to The Financial Brand’s survey, including 49 retail banks and 93 credit unions.
While ca. 46% of financial institutions have a Facebook page, a surprising 31% don’t even use email marketing.
Other interesting findings of the report:
- 45% of banks and credit unions don’t have any online marketing staff.
- 22% don’t track or measure their online activities
- 57% of banks invest in search engine optimization (SEO)
More information, including a raw data file with the complete results of the survey can be found at The Financial Brand.