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Partners+simons study finds bigger financial marketing budgets

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Boston—Financial services companies have bigger marketing budgets but are not satisfied with their ability to track and develop leads, according to a survey by marketing communications firm Partners+simons.

The study, based on interviews with more than 30 senior marketing executives at financial services companies, found that 55% of companies reported marketing budget increases over the past three years. One third of respondents reported marketing budget increases of more than 10%.

Eighty-one percent of respondents said marketing is taking on a more important role in delivering bottom-line results, and 64% said management wants greater accountability for marketing spending.

However, 64% of respondents rated their ability to track and develop sales leads as fair to poor, and few companies have a systemic measurement system in place to evaluate the performance of their entire marketing program, the study found.

—Kate Maddox

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