Fintel Connect’s new report 2025 Cost-Per-Acquisition Benchmarking Guide For Financial Services: How to Drive Growth and Optimize Spend analyzes the different parts of a financial institution’s cost-per-acquisition strategy (CPA) while providing tips for maximizing value.
An important consideration is ensuring you compare apples to apples; CPA rates vary depending on the product. Market demand, customer intent, and product attractiveness are other influences.
Don’t rely solely on promotional offers. Customers will flee once the bonus expires if a product fails to deliver value. Successful brands often have strong awareness and affinity.
If a brand is newer, the company’s marketing spend must be higher to attract customers, build trust, and generate awareness. As that awareness improves, affiliate marketing begins to make sense. Focus on opportunities that drive high approval rates; this indicates good targeting and quality.
“Your winning combination is a deeper-funnel conversion event combined with a healthy conversion rate,” the report states. “The more your product converts (ie no leaky funnels), the harder your budget will work for you.”
Looking to conversion events deeper in the funnel makes companies more likely to align their spends with the right customer types. Compelling products and seamless conversion journeys are crucial.
In 2025, CPA will be shaped by five trends. Artificial intelligence is helping identify the right audiences and the right time to pursue them. This is lowering CPA.
Privacy-driven data collection policies are altering the relationship between institutions and affiliates. Rising competition is coupled with limited advertising inventory.
“Only the top products will win, which may mean alternative payout models to help boost coverage,” the report states.
Multi-channel campaigns are growing in importance and are conversion keys. More institutions use media, search, and affiliate marketing to lower their CPA.
As brands focus on what creates the most value for customers, they will likely pursue collaborative incentive offers through partnerships. This can be seen to increase CPA, but it could also deliver higher-quality customers and better long-term value.
“As financial institutions continue to navigate an increasingly competitive landscape, understanding and optimizing CPA remains a critical component of successful marketing strategies,” the report concludes. “By leveraging performance-based channels, refining conversion strategies, and fostering deep partnerships with affiliates, financial institutions can achieve immediate improvements in their CPA.
“However, sustainable success requires ongoing investment in technology, data integration, and adaptive frameworks that can respond to market conditions and evolving consumer behaviors.”