Our list of financial industry marketing benchmarks will help you see how your company compares.
It sometimes seems impossible to find marketing-related data for companies in the financial services industry. That makes it difficult for marketers to figure out whether they're keeping up with -- or falling behind -- their competitors.
That's why Carpenter Group put together this checklist of financial industry marketing benchmarks. It can help you figure out how your marketing activities compare to what other firms are doing.
Email delivery rates
Return Path tracked the delivery and return rates of more than 350 million emails sent from corporate accounts. On average between 81 and 85 percent of emails sent from insurance, professional services and financial companies made it to the receiver's email box.
How many of your firm's emails make it to the recipient's inbox?
Leads converted to sales
Hubspot's State of Inbound Marketing Research Report reports that the financial services industry converts 14 percent of all leads to clients, the lowest of any industry.
How does your company's conversion rate compare?
Google AdWords click-through rate
According to a study by WordStream, the median click-through rate for Google AdWords in the financial services and insurances industries is 2.65 percent for search.
The median click-through rate in AdWords across all industries is 1.91 percent for search.
Is your company's click-through rate higher or lower?
Google AdWords cost-per-click
According to a study by WordStream, the median cost-per-click for Google AdWords in the financial services and insurances industry is $3.72 for search.
The median cost-per-click in AdWords across all industries is $2.32 for search.
Does your firm pay more or less for your Google clicks?
Google AdWords conversion rate
According to a study by WordStream, the median conversion rate for Google AdWords in the financial services and insurances industry is 7.19 percent for search.
The median conversion rate in AdWords across all industries is 2.70 percent for search.
Is your company's Google Adwords conversion rate higher or lower?
According to a survey from MarketBridge and SourceMedia, 34 percent of financial companies conduct webinars.
Does your business conduct webinars?
The American Customer Satisfaction Index reports that, on average, Americans report an 80 out of 100 point satisfaction level with their financial service company.
What is your company's customer satisfaction level?
According to Javelin and Associates, approximately 50 percent of the largest financial institutions in the U.S. now offer advanced app features, including person-to-person transfers.
Does your firm offer advanced apps? Would it make sense to do so?
Website conversion rate
According to the Marketing Sherpa Website Optimization Benchmark Report, the professional and financial services industries had a 10% website conversion rate, the highest of any industry.
At what rate does your firm convert web visitors to customers?
A study by KPMG reports that almost three-quarters of financial and professional services companies are on social media.
Is your firm on social media and how active are you?
KPMG reveals that almost 60 percent of financial companies are currently initiating or expanding their brand and reputation-related activities.
Do you have plans to expand your brand?
Acquiring customers through social media
Hubspot's State of Inbound Marketing Research Report reveals that between 30 and 40 percent of financial companies have acquired customers through Facebook or LinkedIn.
Has your firm acquired customers through social media? Do you have plans to do so?
Cost to acquire a customer
Hubspot's State of Inbound Marketing Research Report shows that the average cost for a financial company to acquire a customer is $303, the highest of any industry.
How much does it cost your company to acquire a new customer?
Online display advertising
A study reported in The Financial Brand says only eight percent of financial marketers plan to increase their budget for online display advertising, while a quarter plan to decrease spending.
What are your plans for display advertising?
According to research conducted by The Financial Brand, 53 percent of financial companies are experimenting with some form of video advertising.
Does your firm do any video marketing?
How does your financial company compare? If you find that you have gaps in your marketing strategies compared to your industry competition, contact Carpenter Group, a marketing strategy and creative agency that has helped financial companies develop high-performing marketing initiatives for more than 35 years. We will consult with you, take time to understand your marketing goals and objectives, and work with you to integrate new strategies into your marketing plan.
What are you waiting for? Contact us today.