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Survey: Bank Marketing Spending To Grow 7% In 2004

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NU Online News Service, Sept. 16, 2003, 12:25 p.m. EDT – Sixty-nine percent of U.S. banks expect to spend more on marketing in 2004 than they spent this year, according to the American Bankers Association, Washington.

Banks are projecting their 2004 marketing budgets will rise about 7%, the ABA says.

The ABA is basing the results on responses from 340 banks surveyed in August.

The ABA also found that more than half of the surveyed banks will be increasing marketing expenditures for traditional credit and deposit banking services, retail banking services to individuals and small businesses, and Internet-based programs, such as Web-based bill payment services.