Spotlight

US Bank Digital Ad Spending

Balancing Tension Between Acquisition, Talent, and Technology

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About This Report
Banks’ continued investment in marketing, led by the sales of products and solutions to the mass affluent, signals sustained growth in digital ad spending on the heels of a historic snap back in budgets since the pandemic—despite a looming economic downturn.
Table of Contents

Executive Summary

Banks will continue their investment in digital ad spending, which spiked in 2021 as firms anticipated a rapid recovery in consumer spending. Large banks are expected to spend heavily on growth, driving ad spending through 2024. If a downturn takes hold and budgets are cut, spending on tech and talent will take priority over customer acquisition.

Key Question: What’s driving banks’ digital ad spending outlook amid a bounce back and brewing recession?

KEY STAT: As the economy rebounded from the early days of the pandemic, the banking industry’s ad spending recovered—accelerating to 30.7% growth in 2021. We expect a 20.4% upswing to $13.54 billion in 2022.

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Table of Contents

  1. Executive Summary
  2. Growth Normalizes
  1. What’s Next for Marketing Spending?
  2. Read Next
  1. Sources
  2. Media Gallery

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authors

Tyler Brown

Contributors

Caitlin Cahalan
Researcher, Financial Services
Matthew Gaughan
Analyst Banking
Tiffani Montez
Principal Analyst, Banking
Oscar Orozco
Director, Forecasting
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