Retail Banks: A Sponsorship Category Update

Retail Banks: A Sponsorship Category Update

Although it took until 2012 for bank sponsorship spending to reach and surpass pre-recession levels, both large and small financial institutions have been steadily increasing investments in sponsorship to acquire new customers, reward existing clients and demonstrate community involvement.

In a highly commoditized market, banks need to differentiate themselves from competitors and see sponsorship as a way to do this. The biggest challenge for bank marketers seeking to rise above the fray is to be as innovative in activation and story-telling as their counterparts in packaged goods, apparel, beverage and other active categories.

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