Financial Services Lead Generation Website Benchmarks

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Financial Services Lead Generation Website Benchmarks

Financial Services Lead Generation Website Benchmarks

Industry position
  • In 2018, The cost per lead for Financial Services companies was reported to be between $44 and $272, with an average cost of $160. Only the industries 'Healthcare and Medical', and 'IT, Computer, and Technical Services' had higher average costs.
  • Generating leads online proved to be much more cost-efficient. Statistics from 2020 showed that the average online cost per lead for Financial Services companies was just $47.
  • The 2020 Covid-19 Coronavirus Pandemic marked a shift in consumer behavior, which some experts claim will see increased movement towards online and mobile activity within Financial Services, resulting in more opportunity for online leads.
  • There is a lack of detailed and reliable information regarding the amounts leading Financial Services companies spend specifically on lead generation and operating their websites. However, we can make inferences from more general information available, such as digital marketing spending and in particular, leads acquired through desktop and mobile channels.
Average Spend - Leading Financial Services Companies
  • Three major US banks, Citigroup, Capital One and Chase alone spent more than $168 on digital advertising through Q3 of 2016
  • More than 90% of this spending went on the acquisition of leads through direct advertising online
  • Capital One was the top financial services' spender through Q3 of 2016 for desktop, doling out about $133 million
New Customer Acquisition/Leads Generated by Web for Financial Services Firms
  • Analysis from Hubspot (2016) suggested that from a strategic digital inbound campaign, Financial Services companies can expect approximately 50k - 100k online visitors (the most of any industry), 500 – 1,000 leads, 500 - 1,000 marketing-qualified leads (MQLs), 500 – 1,000 sales-qualified leads (SQLs), 200 - 300 sales opportunities, and 200 - 300 customers, per month.
  • B2B lead conversion rates for Financial Services companies was calculated at 10% in 2018, the highest of any industry.
Sales Generated As a Result of Web Lead Generation Efforts
  • Bank of America, who's digital lead generation strategy has enabled them to become one of the leaders in digital sales, reported 24% of all sales coming through there digital channels in 2019. As more customers use mobile banking, this leads to an increased opportunity to acquire leads through customers view products via online and mobile apps
Further Information - There does exist a few case studies available online which may provide further information
Sources
Sources

Quotes
  • "...some relevant statistics on the cost per lead in the finance industry and the differences in cost per channel. The finance industry is at the top of the list with $47 USD at cost per lead."
Quotes
  • "Financial Services is the exception; receiving the greatest level of visitors. However ultimately they receive around the same level of leads, MQLs, opportunities, and customers, which may indicate lower conversion rates"
Quotes
  • "As some experts claim, the pandemic marks the shift from digital transformation to digital acceleration within the finance industry."
Quotes
  • "Capital One, Citigroup and Chase alone spent more than $168 million on desktop advertising in the first three quarters of 2016, according to Pathmatics data. What’s more, nearly 90% of spending between the three went to direct advertising, rather than through a trading desk, ad network or other advertising channel"
Quotes
  • "One of the leaders in digital sales for banking is Bank of America (graphic below). In 2019, approximately 24% of its sales came from their digital channels"