Natalie Myers

Canada’s Lead in Online Banking Might Be Key to Marketing Success

August 8th, 2008

It’s no surprise that Canada leads the world in online banking usage. It’s a testament to information I found while reporting a two-part special report on marketing to Canadians. They have better access to broadband than the U.S. and Canadians tend to spend more time on the Internet.

Perhaps Canada’s lead in online banking is partially why marketing programs like the one Bank of Montreal use to build a highly targeted list of retiree baby boomers returned a 44% open rate. Bank of Montreal experienced a 22% increase, the greatest among the top banks measured, in visitation during the past year, according to a comScore report.

ComScore logo

Here are other stats from the report:

-67% of Canadian Internet users banked online in April

-49.5% of Brits banked online that month

-44.4% of American Internet users

-41.7% of Australians Internet users

-Canadians spent an average of 46 minutes per banking site

-Canadians viewed about 121 pages per visitor

I can only imagine the innovative ways marketers at the Canadian banks will respond. I hope they will share new tactics with MarketingSherpa.

Natalie Myers

About Natalie Myers

Natalie Myers writes for MarketingSherpa’s Great Minds and Content Biz newsletters. She covers a broad array of topics for Great Minds, regularly interviewing thought leaders and experienced marketers about innovative or highly successful marketing strategies. For Content Biz she focuses specifically on online subscriptions models, including anything you pay for to read, listen to, watch, rent (as in Software as a Service models), etc.

She writes blog posts about topics relating to her beats, including useful information from interviews that doesn’t make it into an article.

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