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Synopsis
• This report is the result of an extensive survey drawn from Timetric and VRL’s exclusive panel of leading banks and other financial institutions in Europe. The opinions and forward looking statements of 106 industry executives have been captured in our in-depth survey, of which 32% represent directors and C-level respondents.
• The research is based on primary survey research conducted by Timetric and VRL accessing their B2B panels comprised of senior marketing decision makers and leading banking organizations.
• Key topics covered include economic outlook, business confidence, threats and opportunities in the European banking industry, key growth markets and high demand products.
• The report covers data and analysis on marketing budgets, marketing and sales strategies, and business practices.
• In the report companies identify the factors to maintain their business and the key actions being taken by industry players to overcome the leading business threats.
• The report examines current practices and provides information regarding future expectations.
• The report provides qualitative analysis of critical business success factors, vital channels for growth and contains full survey results.
Summary
'European Banking Industry Outlook Survey 2012—2013: Industry Dynamics, Market Trends and Opportunities, Marketing Spend and Sales Strategies in the Banking Industry” is a new report by Timetric and VRL that extensively analyzes how media spend, marketing, sales strategies, practices and business planning are set to change in the European banking industry during 2012—2013. This report provides the current size of the marketing and advertising budgets of European banks and how spending by these financial institutions will change, providing insight into marketing behavior. In addition, the report also identifies the future growth of banks and other financial institutions, as well as merger and acquisition activity. This report not only grants access to the opinions and strategies of business decision makers and competitors but also examines their actions and business priorities. The report also provides access to information categorized by company type and turnover.
Scope
The report features the opinions of the European banking industry respondents related to the following:
• Revenue growth and future developments in business structure
• Merger and acquisition activity
• Change in staff recruitment activity
• Key regions of growth
• High demand products and vital channels of growth
• Business concerns and success factors
• Annual marketing budgets and change in marketing expenditure
• Future spending outlook on media channels
• Marketing agency selection criteria
Reasons To Buy
• Benchmark your sales and marketing spend with industry peers to effectively determine strategy.
• Identify the specific marketing approaches your competitors are using to win business.
• Better promote your business by aligning your capabilities and business practices with your customer’s changing needs.
• Secure stronger customer relationships by understanding the leading business concerns and changing strategies of banking industry companies in Europe.
• Project how the industry will grow, consolidate and where it will stagnate.
• Uncover the business outlook, key challenges and opportunities identified by banks and other institutional investors in the industry.
Key Highlights
• A total of 53% of respondents from banks and 66% from other financial institutions expect an ‘increase’ or ‘significant increase’ in the level of M&A activities.
• China, Brazil and India are the emerging markets that are expected to offer the strongest growth opportunities to the European banking industry. China was identified as the leading emerging market by 47% of respondents from banks.
• Of all respondents, 37% of respondents from banks and 36% from other financial institutions expect no change in their marketing expenditure over the next 12 months.
European Banking Industry Outlook Survey 2012—2013
The European banking industry is ‘neutral’ about revenue growth in 2012—2013
The sovereign debt crisis, coupled with financial institutions going bankrupt in many of the European Union (EU) countries, forced governments to accept bailout packages which reduced the entire financial system. Within the European banking industry, 39% of survey respondents expect similar conditions to prevail over the next 12 months while 30% are ‘less optimistic’ with regards to revenue growth over the next 12 months, compared to the previous 12 months.
Level of consolidation in the banking industry is set to increase in 2012—2013
Executives anticipate increased levels of consolidation over the next 12 months. The main reasons for this are: changing capital requirement regulations, pressure on the bottom-line of companies forcing them to look for inorganic methods of growth, a growing focus on divestitures and a desire to increase their global market presence.
China, India and Russia are the most promising emerging markets
According to survey respondents, the five emerging markets that are expected to offer the strongest growth opportunities for the European banking industry in 2012—2013 are China, India, Russia, Brazil, and Eastern Europe.
China was identified as the leading emerging market by 47% of the respondents from banks. China’s rapid economic development has made it an attractive destination, not only for the banking industry but for other industries as well.
‘Market uncertainty’, ‘increasing competition’ and ‘regulatory issues’ are main concerns for the banking industry
Market uncertainty is an area of major concern for the banking industry companies amid the sovereign debt crisis. Instability of financial markets and economies has resulted in a decrease in lending by financial institutions. Declining real estate business, decrease in construction activity and financial stress on borrowers arising as a result of uncertain economic conditions or job loss all had an adverse effect on the banking industry.
Average annual marketing budget of companies expected to remain the same in 2012—2013
The average size of the annual marketing budget of the European banking industry respondents’ companies was US$73.2 million for 2012. In 2012, the average marketing budget was US$64.9 million for banking companies and US$94.6 million for other financial institutions. The industry survey revealed that the average marketing budgets, of both banks and other financial institutions, are expected to rise by 0.2% over the next 12 months.
‘Social media’, ‘online portals’, ‘mobile’, ‘corporate and brand websites’ and ‘email and newsletters’ will generate the largest proportion of future marketing investment.
A significant proportion of respondents from both banks and other financial institutions expect to increase their marketing expenditure on ‘social media and networking sites’, ‘mobile’, ‘online portals’, ‘email and newsletters’ and ‘corporate and brand websites’. These respondents plan to shift their marketing expenditure from traditional marketing channels to more modern online marketing channels due to the cost-effective nature of modern media.
‘Customer retention’, ‘customer acquisition’ and ‘cross-selling and up-selling’ are considered to be the main marketing objectives
Of all respondents from the banks, 64% consider ‘customer retention’ to be a ‘very important’ marketing objective, while 47% of respondents consider ‘cross-selling and up-selling’ and 44% of respondents identify ‘customer acquisition’ to be ‘very important’ marketing objectives.
Table of Contents
1 Introduction
1.1 What is this Report About?
1.2 Definitions
1.3 Methodology
1.4 Profile of Survey Respondents
2 Executive Summary
3 European Banking Industry Dynamics
3.1 Revenue Growth Expectations
3.1.1 Revenue growth expectations by company type
3.1.2 Revenue growth expectations by company turnover
3.1.3 Revenue growth expectations by senior level respondents
3.2 Future Developments in Business Structure
3.2.1 Future developments in business structure of banks
3.2.2 Future developments in the business structure of other financial institutions
3.3 Planned Change in Staff Recruitment
3.3.1 Planned change in staff recruitment by company type
3.3.2 Planned change in staff recruitment by company turnover
3.4 Merger and Acquisition Activity Expectations
3.4.1 M&A activity expectations by company type
3.4.2 M&A activity expectations by company turnover
4 European Banking Industry : Market Growth Outlook
4.1 Demand in Emerging Markets
4.1.1 Demand in emerging markets by company type
4.1.2 Demand in emerging markets by company turnover
4.2 Growth Expectation in Developed Countries
4.2.1 Growth expectation in developed countries by company type
4.2.2 Growth expectation in developed countries by company turnover
4.3 High-Demand Products
4.3.1 High demand products by company type
4.3.2 High-demand products by company turnover
4.4 Vital Channels of Growth
4.4.1 Vital channels of growth by company type
4.4.2 Vital channels of growth by company turnover
5 Threats and Opportunities for the Banking Industry
5.1 Key Drivers of Growth
5.1.1 Key drivers of growth by company type
5.1.2 Key drivers of growth by company turnover
5.2 Leading Business Concerns
5.2.1 Leading business concerns by company type
5.2.2 Leading business concerns by company turnover
5.3 Critical Business Success Factors
5.3.1 Critical business success factors by company type
5.3.2 Critical business success factors by company turnover
5.4 Essential Features of Customer Attraction
5.4.1 Essential features of customer attraction: banks
5.4.2 Essential features of customer attraction: other financial institutions
5.4.3 Essential features of customer attraction by company turnover
6 Marketing Expenditure by Banking Industry
6.1 Annual Marketing Budget
6.1.1 Annual marketing budgets by company type
6.1.2 Annual marketing budgets by company turnover
6.2 Planned Change in Marketing Expenditure
6.2.1 Planned change in marketing expenditure by company type
6.2.2 Planned change in marketing expenditure by company turnover
6.3 Future Investment in Media Channels
6.3.1 Future investment in media channels by company type
6.3.2 Future investment in media channels by company turnover
7 Marketing and Sales Behaviors and Strategies in 2013
7.1 Key Marketing Objectives
7.1.1 Key marketing objectives by company type
7.1.2 Key marketing objectives by company turnover
7.2 Key Marketing Initiatives: Budget Allocation
7.2.1 Key marketing initiatives: budget allocation by banks
7.2.2 Key marketing initiatives: budget allocation by other financial institutions
7.3 Essential Amendments to Marketing Activities in 2012—2013
7.3.1 Amendments to marketing activities by company type
7.3.2 Amendments to marketing activities by company turnover
7.4 Critical Success Factors for Choosing a Marketing Agency
7.4.1 Critical success factors by company type
7.4.2 Critical success factors by company turnover
8 Appendix
8.1 Survey Results — Closed Questions
8.2 Methodology
8.3 Contact Us
8.4 About Timetric
8.5 About VRL Financial News
8.6 Disclaimer
List of Tables
Table 1: Total European Banking Industry Survey Respondents by Company Type, 2012
Table 2: European Banking Industry Survey: Respondents by Job Role (%), 2012
Table 3: European Banking Industry Survey: Respondents by Company Turnover (%), 2012
Table 4: Revenue Growth Optimism in the European Banking Industry (%), 2012
Table 5: Revenue Growth Optimism by Company Type in the European Banking Industry (%), 2012—2013
Table 6: Revenue Growth Optimism by Company Turnover in the European Banking Industry (%), 2012—2013
Table 7: Revenue Growth Optimism by Senior Level Respondents in the European Banking Industry (%), 2012—2013
Table 8: Key Expected Changes in the Business Structure of Banks in the European Banking Industry (%), 2012—2013
Table 9: Key Expected Changes in the Business Structure of Other Financial Institutions in the European Banking Industry (%), 2012—2013
Table 10: Planned Change in Staff Recruitment by Company Type in the European Banking Industry (%), 2012—2013
Table 11: Planned Change in Staff Recruitment by Company Turnover in the European Banking Industry (%), 2012—2013
Table 12: Merger and Acquisition Activity Expectations by Company Type in the European Banking Industry (%), 2012—2013
Table 13: Merger and Acquisition Activity Expectations by Company Turnover in the European Banking Industry (%), 2012—2013
Table 14: Demand in Emerging Markets for Banks in the European Banking Industry (%), 2012—2013
Table 15: Demand in Emerging Markets for Other Financial Institutions in the European Banking Industry (%), 2012—2013
Table 16: Growth Expectation in Developed Countries for Banks in the European Banking Industry (%), 2012
Table 17: Growth Expectation in Developed Countries for Other Financial Institutions in the European Banking Industry (%), 2012
Table 18: High Demand Products by Company Type in the European Banking Industry (%), 2012—2013
Table 19: High Demand Products by Company Turnover in the European Banking Industry (%), 2012—2013
Table 20: Vital Channels of Growth for Banks in the European Banking Industry (%), 2012—2013
Table 21: Vital Channels of Growth by Other Financial Institutions in the European Banking Industry (%), 2012—2013
Table 22: Key Drivers of Growth by Company Type in the European Banking Industry (%), 2012
Table 23: Key Drivers of Growth by Company Turnover in the European Banking Industry (%), 2012
Table 24: Leading Business Concerns by Company Type in the European Banking Industry (%), 2012
Table 25: Leading Business Concerns by Company Turnover in the European Banking Industry (%), 2012
Table 26: Critical Business Success Factors by Company Type in the European Banking Industry, 2012
Table 27: Essential Features of Customer Attraction for Banks in the European Banking Industry (%), 2012
Table 28: Essential Features of Customer Attraction for Other Financial Institutions in the European Banking Industry (%), 2012
Table 29: Annual Marketing Budgets by Company Type in the European Banking Industry (%), 2012
Table 30: Annual Marketing Budgets by Company Turnover in the European Banking Industry (%), 2012
Table 31: Expected Change in Marketing Expenditure by Company Type in the European Banking Industry (%), 2012—2013
Table 32: Expected Change in Marketing Expenditure by Company Turnover in the European Banking Industry (%), 2012—2013
Table 33: Future Investment in Media Channels by Banks in the European Banking Industry (%), 2012—2013
Table 34: Future Investment in Media Channels by Other Financial Institutions in the European Banking Industry (%), 2012—2013
Table 35: Key Marketing Objectives for Banks in the European Banking Industry (%), 2012—2013
Table 36: Key Marketing Objectives for Other Financial Institutions in the European Banking Industry (%), 2012—2013
Table 37: Key Marketing Initiatives: Budget Allocation by Banks in the European Banking Industry (%), 2012—2013
Table 38: Key Marketing Initiatives: Budget Allocation by Other Financial Institutions in the European Banking Industry (%), 2012—2013
Table 39: Amendments to Marketing Activities by Company Type in the European Banking Industry (%), 2012—2013
Table 40: Amendments to Marketing Activities by Company Turnover in the European Banking Industry (%), 2012—2013
Table 41: Critical Success Factors by Company Type in the European Banking Industry (%), 2012
Table 42: Critical Success Factors by Company Turnover in the European Banking Industry (%), 2012
Table 43: Survey Results — Closed Questions
List of Figures
Figure 1: Revenue Growth Optimism in the European Banking Industry (%), 2012
Figure 2: Revenue Growth Optimism by Company Type in the European Banking Industry (%), 2012—2013
Figure 3: Revenue Growth Optimism by Company Turnover in the European Banking Industry (%), 2012—2013
Figure 4: Revenue Growth Optimism by Senior Level Respondents in the European Banking Industry (%), 2012—2013
Figure 5: Key Expected Changes in the Business Structure of Banks in the European Banking Industry (%), 2012—2013
Figure 6: Key Expected Changes in the Business Structure of Other Financial Institutions in the European Banking Industry (%), 2012—2013
Figure 7: Planned Change in Staff Recruitment by Company Type in the European Banking Industry (%), 2012—2013
Figure 8: Planned Change in Staff Recruitment by Company Turnover in the European Banking Industry (%), 2012—2013
Figure 9: Merger and Acquisition Activity Expectations by Company Type in the European Banking Industry (%), 2012—2013
Figure 10: Merger and Acquisition Activity Expectations by Company Turnover in the European Banking Industry (%), 2012—2013
Figure 11: Five Leading Emerging Markets for the European Banking Industry (%), 2012—2013
Figure 12: Demand in Emerging Markets for Banks in the European Banking Industry (%), 2012—2013
Figure 13: Demand in Emerging Markets for Other Financial Institutions in the European Banking Industry (%), 2012—2013
Figure 14: Demand in Emerging Markets by Company Turnover in the European Banking Industry (%), 2012—2013
Figure 15: Five Leading Developed Markets for the European Banking Industry (%), 2012
Figure 16: Growth Expectation in Developed Countries for Banks in the European Banking Industry (%), 2012
Figure 17: Growth Expectation in Developed Countries for Other Financial Institutions in the European Banking Industry (%), 2012
Figure 18: Growth Expectation in Developed Countries by Company Turnover in the European Banking Industry (% 'Increase' Responses), 2012
Figure 19: High Demand Products by Company Type in the European Banking Industry (%), 2012—2013
Figure 20: High Demand Products by Company Turnover in the European Banking Industry (%), 2012—2013
Figure 21: Vital Channels of Growth for Banks in the European Banking Industry (%), 2012—2013
Figure 22: Vital Channels of Growth by Other Financial Institutions in the European Banking Industry (%), 2012—2013
Figure 23: Vital Channels of Growth by Company Turnover in the European Banking Industry (% 'High Focus' Responses), 2012—2013
Figure 24: Key Drivers of Growth by Company Type in the European Banking Industry (%), 2012
Figure 25: Key Drivers of Growth by Company Turnover in the European Banking Industry (%), 2012
Figure 26: Five Leading Business Concerns in the European Banking Industry (%), 2012
Figure 27: Leading Business Concerns by Company Type in the European Banking Industry (%), 2012
Figure 28: Leading Business Concerns by Company Turnover in the European Banking Industry (%), 2012
Figure 29: Critical Business Success Factors by Company Type in the European Banking Industry, 2012
Figure 30: Critical Business Success Factors by Company Turnover in the European Banking Industry (% 'Critical' Responses), 2012
Figure 31: Essential Features of Customer Attraction for Banks in the European Banking Industry (%), 2012
Figure 32: Essential Features of Customer Attraction for Other Financial Institutions in the European Banking Industry (%), 2012
Figure 33: Essential Features of Customer Attraction by Company Turnover in the European Banking Industry (% 'Highly Important' Responses), 2012
Figure 34: Annual Marketing Budgets by Company Type in the European Banking Industry (%), 2012
Figure 35: Annual Marketing Budgets by Company Turnover in the European Banking Industry (%), 2012
Figure 36: Expected Change in Marketing Expenditure by Company Type in the European Banking Industry (%), 2012—2013
Figure 37: Expected Change in Marketing Expenditure by Company Turnover in the European Banking Industry (%), 2012—2013
Figure 38: Future Investment in Media Channels by Banks in the European Banking Industry (%), 2012—2013
Figure 39: Future Investment in Media Channels by Other Financial Institutions in the European Banking Industry (%), 2012—2013
Figure 40: Future Investment in Media Channels by Company Turnover in the European Banking Industry (% ‘Increase’ Responses), 2012—2013
Figure 41: Key Marketing Objectives for Banks in the European Banking Industry (%), 2012—2013
Figure 42: Key Marketing Objectives for Other Financial Institutions in the European Banking Industry (%), 2012—2013
Figure 43: Key Marketing Objectives by Company Turnover in the European Banking Industry (% ‘Very important’ responses), 2012—2013
Figure 44: Key Marketing Initiatives: Budget Allocation by Banks in the European Banking Industry (%), 2012—2013
Figure 45: Key Marketing Initiatives: Budget Allocation by Other Financial Institutions in the European Banking Industry (%), 2012—2013
Figure 46: Amendments to Marketing Activities by Company Type in the European Banking Industry (%), 2012—2013
Figure 47: Critical Success Factors by Company Type in the European Banking Industry (%), 2012
Figure 48: Critical Success Factors by Company Turnover in the European Banking Industry (%), 2012
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