NEW YORK--(BUSINESS WIRE)--Today, Future Digital Finance and Performance Horizon released their findings from their new report titled “Benchmarking Performance Marketing Adoption within Financial Services Strategies”. As the consumer revolution in retail banking continues, the whole financial services vertical has seen dramatic shifts towards electronic interactions across their consumer and business-to-business operations. This new study takes a look at the wider variety of marketing channels firms have begun to leverage, especially ones with clear measurement methodologies that contribute towards revenues.
The results analyzed in this report were gathered from responses to a survey delivered to global retail executives who are members of the Future Digital Finance database. Future Digital Finance is a high-level conference that brings together digital innovators in financial services.
“Financial services companies can no longer simply promote their products through digital marketing channels like organic and paid search as well as email and social media,” stated Christopher Rand, Financial Analyst, WBR Digital. The survey results show the extent to which financial services companies are using various different channels and highlights performance-oriented partner and affiliate marketing as part of the marketing mix. Companies are increasing investments in performance-based partner marketing to drive customer acquisition and customer retention, as well as mobile apps and mobile web.
“We’ve found that leading financial services companies are leveraging performance-based partner and affiliate marketing as a successful part of their marketing mix,” says Erik Mikisch, VP, Marketing at Performance Horizon. “They’re increasing customer acquisition and retention, improving business-decision making, and reducing risk in ways that standard digital marketing strategies haven’t been able to deliver.”
Key statistics from the survey include:
- Performance marketing, including affiliate marketing, primarily drives customer retention for 21% of financial services companies.
- Almost a third of companies spend at least 20% of their overall media budget on performance-oriented programs, while 21% of companies spend at least 40% of their overall media budget on performance oriented programs.
- Finance companies are looking to grow performance-based marketing programs as 77% of companies prefer to pay new partners based on performance.
- 93% of companies expect mobile website sales will increase, and 92% expect mobile app sales will increase in 2017.
- 86% of companies agree that data and insights from their existing partner marketing programs enable them to make better business decisions.
According to the report, financial services companies agree almost unanimously that they prefer performance-based marketing across more of their channels. Given the economic advantages of sharing risks with a marketing partner, companies plan to expand their existing performance-based partner programs as well as expand it across their existing marketing partners. To download the full report, please click here.
ABOUT WBR DIGITAL
WBR Digital connects solution providers to their target audiences with year-round online branding and engagement lead generation campaigns. We are a team of content specialists, marketers, and advisors with a passion for powerful marketing. We believe in demand generation with a creative twist. We believe in the power of content to engage audiences. And we believe in campaigns that deliver results.
ABOUT PERFORMANCE HORIZON
Performance Horizon is the leading provider of SaaS solutions for partner marketing, enabling large enterprises to drive significant business through their marketing partners.
The world’s top retail, travel and financial services companies rely on Performance Horizon’s highly scalable platform with currently more than 200,000 marketing partners in 183 countries around the world. The benefits include highly flexible partner and affiliate management capabilities; real-time measurement and analysis of performance on the web and on mobile apps; payment processing and settlement in 60 currencies.
With offices in the U.S., UK, Germany, Japan and Australia, Performance Horizon is backed by top-tier investors, including Mithril, Greycroft Partners and DN Capital. For more information, visit http://www.performancehorizon.com or follow @tweetphg.