Marketing spend for a typical financial services firm varies based on company size, target market, and business goals.
Most financial firms allocate 7% to 10% of revenue to marketing, with digital-first firms spending on the higher end.
Here’s a breakdown of how that budget is typically distributed:
Digital Marketing (40-50%)
- Paid Advertising (15-20%) – Google Ads, LinkedIn Ads, Facebook Ads, and programmatic display ads for lead generation.
- SEO & Content Marketing (10-15%) – Blog posts, whitepapers, case studies, and optimizing for organic search traffic.
- Email Marketing (5-10%) – CRM platforms (HubSpot, Pardot, Mailchimp) for lead nurturing and automated outreach.
- Social Media Marketing (5-10%) – LinkedIn, Twitter, YouTube, and financial community engagement.
Events & Sponsorships (15-20%)
- Webinars & Conferences (10%) – Hosting financial literacy webinars, attending industry summits.
- Partnerships/Sponsorships (5-10%) – Collaborating with fintechs, sponsoring finance-related events.
Traditional Marketing (10-15%)
- Print & Direct Mail (5%) – High-net-worth (HNW) client outreach via premium financial reports or brochures.
- TV/Radio & Outdoor Ads (5-10%) – Targeting mass-market consumers (less common for boutique firms).
Branding & Creative (10-15%)
- Website Development (5%) – UX/UI updates, security, and lead capture optimization.
• Graphic Design & Video (5-10%) – Explainer videos, client testimonials, professional branding materials..
Data & Analytics (5-10%)
- Marketing Automation & CRM (3-5%) – Salesforce, Marketo, HubSpot for managing customer journeys.
- Market Research & Competitive Analysis (2-5%) – Tracking trends, customer behavior, and competitor strategies.
Public Relations (5-10%)
- Media Outreach (3-5%) – Press releases, PR agency retainers, reputation management.
- Influencer & Thought Leadership (2-5%) – Engaging finance influencers, publishing expert articles.
Total Marketing Spend as % of Revenue
What is your firm’s Marketing spend, knowing one size does not fit all, are you aligned with the below?
- Established firms: 7-10%
- Fintechs & aggressive growth firms: 10-15%
- Boutique financial advisors: 5-8%
Sources:
- Asymmetric Marketing
- ChatGPT
- Gartner