Bank marketing departments are spending just 12% of their budgets on digital channels. While that number’s been trending up, it’s not good enough. What should marketers, as the hyper-coordinators across the bank, do to spruce up their digital toolboxes?
65% of channel investment is still spent on brick and mortar branches. Bankers aren’t thinking of resource allocation effectively. Are banks investing too much in brick and mortar with the goal to grow new accounts and new business?
According to Cornerstone Advisors benchmarks, the average bank is processing 857 interactive teller machine transactions per month. Cornerstone tech guru Ryan Rackley says this number is low and in many cases, banks’ ITMs aren’t even paying for themselves.