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Return on Marketing Investment Remains Elusive for Bankers

Judging the return on investment for a marketing budget can be very difficult, even for banks with access to sophisticated analytics…

Marketing “is as much a strategic challenge as it is a tactical one,” said Kevin Travis, managing director of Novantas, a financial services consultancy. “It’s about how do I figure out where the highest return is.”

The stickiness of retail customers raises the stakes. With less than 9% of customers switching banks each year, Travas said, a strong campaign could be a long-term boon, while an ineffective one could fail to move the needle at all.

Read the full article at American Banker…

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