Retail banks often take a highly creative approach to advertising, injecting heartfelt stories into their messaging to capture the attention of their prospects. Display advertising has a valuable role to play in reaching new potential customers and reengaging with those who have been inactive.
In the last several years, banks have invested heavily in digital advertising. National banks, community banks, credit unions, mortgage brokers, and lending institutions all use display advertising to connect with consumers online. Heading into 2020, banks were projected to spend 5% to 15% more on marketing and advertising than the year prior.
Financial institutions are rethinking their strategies and redirecting more money towards digital channels, as well. Although surveys show that most community banks spend between 10% and 20% of their marketing budgets on digital, that figure is growing as the opportunities for connecting with consumers expand through new and exciting financial ad formats and technologies.
Now more than ever, banks are incorporating personalization, customer outreach, customer experience, and audience segmentation into their digital advertising strategies. Community banks and local lenders, in particular, are leaning on hyperlocal publishers to reach consumers they can’t find on other advertising channels, like print or social media. Regional and local ad campaigns are the ideal promotional vehicle for banks opening new locations or promoting new services in the communities they serve.
The best ad formats for banks and mortgage brokers incorporate the latest rates and strong calls-to-action. Financial institutions entice consumers to reach out for more information through their online ads.
Although there are many factors that banks should keep in mind as they develop digital advertising strategies, campaign design remains at the forefront. These are the ad formats most frequently used by banks, credit unions, mortgage brokers, and other financial institutions.
Want to learn more? Check out these popular finance and banking ad formats.
To learn more about Broadstreet’s diverse library of unique ad formats and how they can support real estate advertisers on your site, visit our self-guided demo.