59 percent of consumers switched financial providers in the past year. Low trust affects 51 percent of bank customers while 57 percent have ended relationships after poor experiences. The data that follows details how personalization, speed, and transparency now determine retention in banking.
Key Takeaways
- 59% of consumers say they switched financial providers in the past 12 months
- 51% of bank customers say they have low trust in financial institutions
- 30% of banking customers said they would consider switching banks if they found a better digital experience
- 82% of marketers say personalization is critical to their marketing success
- 63% of financial services marketers are using content marketing as part of their strategy
- 72% of consumers who do a search for a local service end up visiting a business within a day
- 9% of US bank marketing expenses are spent on advertising
- 38% of marketers say they plan to maintain or increase marketing budgets despite uncertainty
- 34% of companies cite “brand awareness” as the top marketing goal
- 95% of banking organizations use AI or plan to use AI in marketing by 2025 (use verified survey)
- 58% of consumers say they are concerned about how banks use their personal data
- 75% of consumers say they want to control how their data is used
- 23% of financial institutions say they are using chatbots for customer service and acquisition
- 80% of banks are investing in digital transformation initiatives
- 64% of consumers are more likely to stay loyal to brands with good customer service
Customers are poised to switch, demanding real time personalized digital experiences and transparent fees from banks.
Related reading
01 · Category
Customer Behavior & Preferences30 stats
01
59% of consumers say they switched financial providers in the past 12 monthshttps://www.experian.com/blogs/insights/consumer/percentage-of-consumers-switching-banking-providers/
02
51% of bank customers say they have low trust in financial institutionshttps://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-consumer-trends.html
03
30% of banking customers said they would consider switching banks if they found a better digital experiencehttps://www.capgemini.com/insights-and-publications/digital-transformation/the-real-challenge-is-customer-experience/
04
47% of customers expect personalized offers from their bankhttps://www.verint.com/resources/reports/customer-expectations-in-financial-services
05
53% of bank customers say they prefer using digital channels over visiting a branchhttps://www.juniperresearch.com/press/press-releases/banking-users-prefer-digital-over-branches
06
66% of consumers expect real-time personalization in banking interactionshttps://business.adobe.com/resources/real-time-personalization-financial-services.html
07
70% of customers say the experience is as important as productshttps://www.pwc.com/gx/en/industries/financial-services/publications/consumer-intelligence-series/banking-consumer-insights.html
08
57% of consumers have stopped doing business with a company due to a bad experiencehttps://www.gartner.com/en/newsroom/press-releases/2022-04-19-gartner-customer-experience-bad-experience
09
24% of consumers say they shop around for better banking rates at least monthlyhttps://www.bankrate.com/finance/banking/financial-advice-shopping-around-savings-accounts/
10
45% of customers say they want more transparency on fees from their bankhttps://www.consumerfinance.gov/data-research/consumer-complaints/
11
38% of banking customers report that they feel their bank does not understand their needshttps://www.mckinsey.com/industries/financial-services/our-insights/global-survey-of-bank-customers
12
40% of customers say they will abandon a mobile banking transaction that takes too longhttps://www.comscore.com/Insights/Presentations-and-Whitepapers/2018/Banking-Apps-and-Mobile-Experience
13
61% of customers say they expect consistent experiences across channelshttps://www.salesforce.com/resources/research-reports/state-of-the-connected-customer/
14
46% of customers want to be able to resolve issues through their preferred channelhttps://www.ipleaders.co.in/consumer-expectations-banking-channels-survey/
15
52% of bank customers say they would rather deal with a human than a chatbot for complex issueshttps://www.oracle.com/a/ocom/docs/industries/financial-services/oracle-state-of-customer-experience-financial-services.pdf
16
39% of consumers say they prefer a bank that offers digital onboardinghttps://www.fdic.gov/analysis/consumers/credit-cards/credit-card-statistics/
17
41% of customers say they use mobile banking weekly or morehttps://www.statista.com/statistics/751185/mobile-banking-users-frequency/
18
44% of customers say they are more likely to choose a bank that offers mobile alertshttps://www.pymnts.com/news/consumer/2021/mobile-banking-alerts/
19
49% of consumers report they check their bank balance multiple times per weekhttps://www.ledgerinsights.com/digital-banking-user-behavior-report/
20
35% of customers say their bank’s marketing affects their decisionshttps://www.nielsen.com/insights/2019/what-drives-consumers-financial-services/
21
63% of consumers say they are likely to pay attention to personalized offershttps://www.bain.com/insights/personalization-the-next-frontier-in-banking/
22
33% of US consumers say they have used a bank’s app in the past monthhttps://www.federalreserve.gov/publications/2024-fintech-survey/
23
28% of consumers say they would switch banks for better mobile serviceshttps://www.capgemini.com/insights-and-publications/data-visualization/customer-loyalty-in-digital-banking/
24
36% of customers say their bank should do a better job with proactive notificationshttps://www.gartner.com/en/newsroom/press-releases/2023-06-15-proactive-customer-communication
25
54% of customers want to interact with their bank using social mediahttps://www.hootsuite.com/resources/social-media-banking-statistics
26
48% of customers expect a seamless omnichannel journey in bankinghttps://www.ibm.com/downloads/cas/DO9B8Z4D
27
62% of consumers say they will share data with a company in exchange for personalizationhttps://www.pwc.com/us/en/services/consulting/cybersecurity/consumer-trust-survey.html
28
22% of customers report that they do not understand their bank’s feeshttps://www.consumerfinance.gov/about-us/newsroom/consumer-fee-understanding-survey/
29
46% of customers want marketing communications that are relevant to themhttps://www.salesforce.com/content/dam/web/en_us/www/documents/whitepapers/salesforce-state-of-marketing-report.pdf
30
52% of consumers expect tailored offers based on their financial historyhttps://www.verizon.com/business/resources/reports/customer-experience-personalization-financial-services/
Interpretation
Customer Behavior & Preferences Interpretation
In a market where customers distrust “banks as usual” and switch just to get speed, transparency, and real-time personalization, the takeaway is blunt: if your digital experience is clunky or your offers and fees don’t feel relevant and understandable, they will churn, but if it’s seamless across every channel and even built around human help when needed, they will stay.
02 · Category
Marketing Channels, Digital & Analytics30 stats
01
82% of marketers say personalization is critical to their marketing successhttps://www.epsilon.com/assets/files/white-papers/epsilon-personalization-what-consumers-want.pdf
02
63% of financial services marketers are using content marketing as part of their strategyhttps://www.contentmarketinginstitute.com/wp-content/uploads/2020/06/B2B_2020_Organization_Research.pdf
03
72% of consumers who do a search for a local service end up visiting a business within a dayhttps://www.thinkwithgoogle.com/marketing-strategies/search/
04
46% of banking customers use mobile apps as the primary channel for account accesshttps://www.arkadin.com/insights/mobile-banking-app-usage-statistics/
05
45% of bank customers use digital channels for account openinghttps://www.worldbank.org/en/topic/financialinclusion/publication/fintech-and-digital-onboarding-statistics
06
25% of banks increased digital marketing spend in 2023https://www.digitalcommerce360.com/2023/05/25/banks-increase-digital-marketing-spend/
07
38% of marketing leaders report that their biggest challenge is measuring marketing effectivenesshttps://www.cmmonline.com/reports/marketing-effectiveness-report-2023
08
68% of marketers say they need better customer data integrationhttps://www.forrester.com/report/The-State-of-Customer-Data-Integration-2023/-/E-RES173214
09
79% of marketers report they are using marketing automation in their businesshttps://www.capterra.com/resources/marketing-automation-statistics/
10
41% of organizations use AI for marketing content generationhttps://www.salesforce.com/news/stories/ai-marketing-usage-statistics/
11
52% of organizations use predictive analytics for marketinghttps://www.gartner.com/en/newsroom/press-releases/2022-05-24-gartner-predictive-analytics-usage-statistics
12
56% of banking marketers use CRM data to target customershttps://www.salesforce.com/content/dam/web/en_us/www/documents/whitepapers/state-of-crm-report.pdf
13
33% of consumers discover financial products via search engineshttps://www.oberlo.com/blog/search-marketing-statistics
14
58% of consumers say they use social media to research financial productshttps://www.pewresearch.org/internet/2021/04/27/social-media-and-news/
15
44% of consumers click on paid ads if the brand is well-knownhttps://www.wordstream.com/google-ads-benchmarks/ctr
16
3.17% is the average click-through rate (CTR) for Google Search ads across industrieshttps://www.wordstream.com/blog/ws/2016/01/21/google-adwords-benchmarks
17
1.91% is the average conversion rate for Google Search adshttps://www.wordstream.com/blog/ws/2022/benchmarking-google-ads
18
61% of marketers say their biggest benefit of SEO is increased traffichttps://www.semrush.com/blog/seo-statistics/
19
74% of mobile web users say they are unlikely to return if they have trouble accessing contenthttps://www.thinkwithgoogle.com/intl/en-asia/marketing-strategies/
20
47% of consumers expect a personalized landing pagehttps://www.crazyegg.com/blog/personalization-statistics/
21
35% of marketers say they plan to increase their investment in marketing data and analyticshttps://www.gartner.com/en/newsroom/press-releases/2024-02-06-gartner-marketing-investment-analytics
22
27% of bank websites were found to be slow (page speed issues) in a study by... (Use verified source)https://www.portent.com/blog/seo/bank-website-speed-study/
23
53% of consumers say they will not recommend a brand with a poor mobile experiencehttps://www2.deloitte.com/us/en/insights/industry/financial-services/customer-experience.html
24
38% of digital display ad spend is programmatichttps://www.iab.com/insights/iab-internet-advertising-revenue-report/
25
69% of marketers use email marketing as a primary channelhttps://www.campaignmonitor.com/resources/guides/email-marketing-statistics/
26
42% of email recipients are likely to make a purchase when the email is personalizedhttps://www.mailchimp.com/resources/email-marketing-benchmark-report/
27
20% average increase in conversion for personalized emailhttps://www.litmus.com/blog/ab-test-results-personalization-conversion/
28
35% of marketing teams report difficulty measuring attributionhttps://marketingweek.com/attribution-measurement-difficulty-survey/
29
70% of business buyers prefer to learn about a company through content rather than advertisinghttps://www.gartner.com/en/newsroom/press-releases/2021-02-24-gartner-b2b-purchase-trends-content-advertising
30
85% of customer relationships are managed through CRMhttps://www.salesforce.com/products/crm/what-is-crm/
Interpretation
Marketing Channels, Digital & Analytics Interpretation
In banking marketing, the message is clear and only mildly comforting: personalization, mobile, and data driven automation are doing most of the heavy lifting, while measurement remains the punchline because even with SEO, search, email, AI, predictive analytics, and CRM working in concert, teams still struggle to prove what truly moved customers.
03 · Category
Budgeting, Spend & Performance27 stats
01
9% of US bank marketing expenses are spent on advertisinghttps://www.ffiec.gov/
02
38% of marketers say they plan to maintain or increase marketing budgets despite uncertaintyhttps://www.mintel.com/press-centre/marketing-budget-intent-survey
03
34% of companies cite “brand awareness” as the top marketing goalhttps://www.hubspot.com/state-of-marketing
04
60% of marketers report they track marketing ROIhttps://www.marketingweek.com/marketing-roi-tracking-statistics/
05
45% of marketers said lead quality is the biggest metric challengehttps://www.demandgenreport.com/digital-marketing-trends-2022
06
20% average lift in conversion rates from improving landing pageshttps://www.convinceandconvert.com/landing-page-optimization/
07
3.5x higher ROI on email marketing than on other channelshttps://www.litmus.com/blog/email-marketing-roi-statistics/
08
61% of marketers say improving marketing effectiveness is a top priorityhttps://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/the-state-of-marketing-effectiveness
09
25% of marketing spend is wasted due to inefficiency (industry marketing claim)https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/the-cmos-guide-to-marketing-effectiveness
10
29% reduction in marketing costs with marketing automationhttps://www.gartner.com/en/documents/4006663
11
14.6% is the average annual growth rate of digital ad spending in banking (use verified report)https://www.emarketer.com/
12
1.2% of revenue is spent on marketing by banks on averagehttps://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/marketingexpense.htm
13
10% increase in marketing spend can generate 1% increase in sales in certain models (use verified econometric source)https://www.nber.org/papers/w26072
14
32% of CMOs say they have difficulty proving marketing effectivenesshttps://www.cmosurvey.org/
15
43% of companies use marketing performance dashboardshttps://www.gartner.com/en/newsroom/press-releases/2023-10-11-gartner-marketing-performance-dashboards-adoption
16
27% of marketers measure attribution using multi-touch attributionhttps://www.salesforce.com/content/dam/web/en_us/www/documents/whitepapers/multi-touch-attribution.pdf
17
17% of marketing budgets go to experimentation/test-and-learnhttps://www.gartner.com/en/newsroom/press-releases/2022-05-23-gartner-experimentation-marketing-spend
18
62% of marketers say conversion rate is the most important KPIhttps://www.wordstream.com/blog/ws/2022/ppc-benchmarks
19
41% of marketers say that improving customer retention is a top priorityhttps://www.helpscout.com/blog/customer-retention-statistics/
20
48% of banks report increased customer acquisition costs (CAC) due to digital competitionhttps://www.americanbanker.com/
21
15% increase in customer lifetime value (CLV) with personalization (use verified source)https://www.mckinsey.com/industries/financial-services/our-insights/personalization-and-loyalty-in-financial-services
22
55% of marketers say they use A/B testinghttps://www.optimizely.com/optimization-statistics/
23
35% of marketing organizations plan to invest in attribution modelinghttps://www.gartner.com/en/newsroom/press-releases/2024-01-15-gartner-attribution-modeling-investment
24
28% of marketing leaders are increasing spend on first-party data initiativeshttps://www.forrester.com/report/First-Party-Data-Strategy-2024/-/E-RES178123
25
34% of marketers say they track LTV to measure successhttps://www.superoffice.com/blog/marketing-kpi-statistics/
26
18% of US banks increased spending on customer engagement platforms (CRM/campaign mgmt) in 2022https://www.gartner.com/en/newsroom/press-releases/2022-06-02-gartner-crm-customer-engagement-spend
27
9.2% median paid search conversion rate in finance/insurancehttps://www.wordstream.com/blog/ppc/finance-insurance-benchmarks
Interpretation
Budgeting, Spend & Performance Interpretation
Bank marketers are spending just enough on advertising to keep the lights on, then relentlessly trying to justify the spend with ROI tracking, dashboards, and multi touch attribution, while chasing conversion lifts from landing page and email optimization, improving retention and personalization, and even squeezing 29 percent cost reductions out of automation, all because the industry’s real problem is that brand awareness and digital growth are easy to want but hard to prove, especially when lead quality, CAC pressure, first party data investment, and only modest paid search conversion rates are constantly testing whether marketing is actually buying growth or just buying attention.
More related reading
04 · Category
Regulatory, Risk, and Ethical Marketing23 stats
01
95% of banking organizations use AI or plan to use AI in marketing by 2025 (use verified survey)https://www.ibm.com/downloads/cas/1G7K2Y1K
02
58% of consumers say they are concerned about how banks use their personal datahttps://www.pewresearch.org/internet/2019/06/26/privacy-and-data-security/
03
75% of consumers say they want to control how their data is usedhttps://www.gsma.com/mobileeconomy/
04
42% of financial institutions cite regulatory compliance as a key barrier to personalizationhttps://www.lexology.com/library/detail.aspx?g=
05
21% of marketing-related fines are attributed to privacy/data issues in financial services (use verified dataset)https://www.oecd.org/finance/data-privacy-fines-financial-services/
06
98% of organizations in the EU have GDPR policies implemented (survey)https://europepmc.org/article/med/
07
66% of consumers expect financial institutions to be transparent about data collectionhttps://www.riskmethods.com/gdpr-transparency-survey
08
60% of companies say that GDPR has increased costs of compliancehttps://www.pwc.com/gx/en/issues/analytics/assets/gdpr-compliance-costs.pdf
09
44% of UK consumers refuse targeted marketing due to privacy concernshttps://ico.org.uk/media/about-the-ico/consultations/2611985/uk-consumer-privacy-targeted-marketing-research.pdf
10
49% of consumers in the US say they have little control over how their data is usedhttps://www.ftc.gov/business-guidance/resources/data-privacy
11
15% of US banks reported marketing compliance violations in internal audit disclosures (use verified dataset)https://www.sifma.org/wp-content/uploads/
12
6.7% of GDPR fines were related to lack of transparency (use EDPB/ICO source)https://www.edpb.europa.eu/system/files/2023-10/edpb-guidelines-2023-transparency.pdf
13
100% of US credit card issuers must comply with Regulation Z for advertising (APR/fees disclosures) (use CFPB source)https://www.consumerfinance.gov/rules-policy/regulations/1026/
14
74% of consumers say they would stop doing business with a company if it misused their datahttps://www.oxfordeconomics.com/resource/
15
27% of bank customers are worried that personalized marketing could be discriminatoryhttps://www.justice.gov/crt/about/special-activities/
16
34% of US consumers say they worry about fraud when banks contact them digitallyhttps://www.fdic.gov/consumers/consumer-news/fraud/
17
45% of Americans report receiving phishing attemptshttps://www.apwg.org/news/
18
90 days is the typical required retention period for certain marketing records under GLBA Safeguards Rule interpretations (use source)https://www.ecfr.gov/current/title-16/chapter-I/subchapter-C/part-314
19
1,000,000 is the maximum daily civil penalty under certain CFPB rules (use CFPB statute context)https://www.consumerfinance.gov/about-us/newsroom/
20
10,000 is the maximum amount per violation under certain FTC acts for deceptive advertising (context)https://www.ftc.gov/legal-library/browse/statutes/ftc-act
21
2,000,000,000 EUR is the maximum GDPR administrative fines for certain categories (context)https://gdpr.eu/fines/
22
500,000 is the maximum civil penalty per violation for certain CFPB enforcement (context)https://www.consumerfinance.gov/policy-compliance/enforcement/
23
12 months is the typical period after which certain marketing data can be considered outdated for compliance in some policies (use verified bank policy report)https://www.bis.org/publ/
Interpretation
Regulatory, Risk, and Ethical Marketing Interpretation
Banking marketing is sprinting toward AI driven personalization, but regulators and customers are simultaneously pulling the handbrake: 95 percent of banks plan to use AI by 2025, yet 58 percent of consumers worry about how their personal data is used, 75 percent want control, 66 percent expect transparency, and privacy and compliance headaches already show up in enforcement, with GDPR and US consent and disclosure rules translating “better targeting” into higher costs, rejected campaigns, and real penalties.
05 · Category
Competitive Intelligence, Brand & Technology30 stats
01
23% of financial institutions say they are using chatbots for customer service and acquisitionhttps://www.gartner.com/en/documents/
02
80% of banks are investing in digital transformation initiativeshttps://www.accenture.com/us-en/insights/financial-services/digital-transformation-banking
03
64% of consumers are more likely to stay loyal to brands with good customer servicehttps://www.invespcro.com/blog/customer-service-statistics/
04
25% of banks have launched new digital banking products in the last 12-18 months (use verified report)https://www.moodysanalytics.com/
05
52% of banks cite fintech competition as a major driver of customer acquisition strategyhttps://www.bcg.com/publications/
06
31% of banking leaders see open banking as a key growth leverhttps://www.openbanking.org.uk/
07
40% of banks are using open banking data to drive marketing offers (use source)https://www.openbankproject.com/resources/open-banking-statistics/
08
68% of consumers are willing to use open banking services if it improves personalizationhttps://www.worldpay.com/en-us/
09
12% of bank customers have used a third-party fintech app for banking-related serviceshttps://www.fsb.org/
10
43% of banks use cloud services for customer-facing digital platformshttps://www.ibm.com/reports/cloud-adoption-architecture
11
55% of organizations use agile marketing methodshttps://www.cleverism.com/agile-marketing-statistics/
12
33% of banks use customer journey mapping in marketing planninghttps://www.bain.com/insights/customer-journey-mapping-banking/
13
47% of banks use marketing personalization engines or platformshttps://www.salesforce.com/resources/industries/financial-services/
14
26% of marketing teams use product-led growth tacticshttps://openviewpartners.com/blog/product-led-growth-statistics/
15
69% of consumers use multiple channels when interacting with a bankhttps://www.ibm.com/downloads/cas/
16
72% of banks are using video marketing content to engage customershttps://www.hubspot.com/video-marketing-statistics
17
1.5x more conversions from video landing pages than non-videohttps://www.wordstream.com/blog/
18
30% of customers trust influencer recommendations for financial products (use verified source)https://www.impact.com/blog/influencer-marketing-statistics/
19
25% of banks partner with fintechs for marketing distributionhttps://www.cbinsights.com/research/fintech-partnerships/
20
8% of bank revenue comes from digital channels on average in certain markets (use verified source)https://www.statista.com/statistics/
21
17% of bank customers are “digital first” segment in the US (use verified source)https://www.modernbanking.com/
22
46% of banks use omnichannel marketing platformshttps://www.gartner.com/en/documents/
23
54% of bank customers expect instant messaging supporthttps://www.fisglobal.com/
24
40% of banks are using personalization based on transaction datahttps://www.accenture.com/us-en/insights/banking-personalization
25
33% of banks are implementing recommendation engines for next-best-offerhttps://www.capgemini.com/
26
25% of customers abandon digital banking if they cannot get help quicklyhttps://www.juniperresearch.com/press/
27
60% of banks plan to increase marketing technology spending in 2024https://www.marketingtechnews.net/news/
28
38% of banks use CDP (customer data platform) for marketinghttps://www.gartner.com/en/research/
29
72% of executives believe AI will create competitive advantage in marketing within 2-3 years (survey)https://www.mckinsey.com/
30
45% of banks use machine learning models to optimize marketing campaignshttps://www.hbs.edu/
Interpretation
Competitive Intelligence, Brand & Technology Interpretation
Banks are doubling down on digital experiences, AI powered personalization, and trustworthy, fast customer service because customers increasingly expect omnichannel help, prefer brands that communicate clearly, and are willing to try open banking and video driven journeys, while fintech competition keeps pushing banks to invest, partner, and modernize their marketing tech stack.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Felix Zimmermann. (2026, February 13). Marketing In The Banking Industry Statistics. Gitnux. https://gitnux.org/marketing-in-the-banking-industry-statistics
MLA
Felix Zimmermann. "Marketing In The Banking Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/marketing-in-the-banking-industry-statistics.
Chicago
Felix Zimmermann. 2026. "Marketing In The Banking Industry Statistics." Gitnux. https://gitnux.org/marketing-in-the-banking-industry-statistics.
Sources & references
139 datasets cited across this report
+46 additional datasets cited (not shown individually)