Capital One Raises Marketing Budget in Bid To Grow U.S. Card Business


Capital One will boost its marketing budget this year in an effort to drive growth in its domestic card business and other areas. The move follows a double-digit rise in marketing expenses during the fourth quarter of 2014.

The Virginia-based company’s marketing spend jumped 19% year-over-year to $509 million during the quarter, and rose 14% to $1.56 billion for the year, according to its earnings release. Last year, Capital One upped its marketing spend by 9% during the fourth quarter.

The higher spend was spurred by “growth opportunities,” said Richard Fairbank, chairman-CEO at Capital One, on a conference call with analysts. He did not provide specific examples.

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