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As a credit union marketer, when it’s time to secure your budget or request funding for a specific campaign are you able to justify the spend? Can you tie actual results to your marketing efforts for the credit union?

Advertising has been around for a long time. In fact, the first paid advertisement was a Coca-Cola ad in a French newspaper in 1836. Today, there are boundless advertising strategies that credit unions and banks can learn from and leverage. But, what makes a truly effective advertising strategy?

Trade shows are back and based on our experience at Pack Expo in October, we expect record numbers of attendees for 2023 equipment manufacturing events. Attendees are eager to see products in action and talk to experts whose products and services can streamline their industrial processes, improve their output, and reduce production expenses. Equipment manufacturers hosting exhibits say meaningful relationships are built when they can talk directly with buyers and clearly demonstrate the value they offer. While trade shows are energizing, you’ve likely experienced sensory overload with the creative ways exhibitors vie for attention. So as an exhibitor, even if you are in a large booth with a good location, interactive exhibits, and top-notch giveaways - how can you be sure you are reaching your best prospects? Digital marketing before and after the event will improve your connections at the show and extend your reach for months beyond.

As a B2B manufacturing company are your marketing, sales, and service functions integrated and automated? An effective CRM increases sales revenue because it:

Does your manufacturing company rely on sales team activity to drive revenue? You’ve likely heard about HubSpot as a CRM but do you wonder if it can really add enough value to the sales process to justify the expense? You may already use Salesforce or another CRM so think there’s no need to use HubSpot as well.

Your member service team likely shines at personalized service when members walk into the branch, but how does the credit union interact with members who perform a large percentage of interactions digitally? It takes a concerted effort to maintain relationships with members who aren’t frequent visitors and to stay top of mind for financial services.

Are you a B2B manufacturer who thinks your target audience is too narrow or niche for online ads? Although the number of people searching for your product may be small, you only are charged when they click your ad. So a campaign that targets the specific keyword phrases (and is well-researched to prevent wasting money on search terms that are intended for a commercial product or different purpose) will be inexpensive. But you'll want to closely track the metrics that are tied to revenue and aren't simply "vanity metrics".

Q4 is traditionally credit union marketing budget season, but in 2022 the uncertainty in the current U.S. economy and geopolitical setting adds extra complexity: Inflation. Rising interest rates. Lingering Covid. As economic decline is a concern, marketing managers are under tighter scrutiny to demonstrate credit union advertising spend is generating positive returns. The C-suite often reacts by cutting marketing budgets since few consumers are in the market for loans given the higher interest rates. But marketing remains a critical spend to stay competitive and accelerate out of the questionable economy. The Financial Brand observes that “The difference between budgetary surgery and unfocused slashing will depend on how well bank marketing chiefs can make their case to senior management.”

We regularly update the following post with the latest information pertaining to Digital Marketing Budgets. Last update: November 2022

Four members of the WebStrategies Team traveled to Chicago for Pack Expo 2022 and it did not disappoint. Howard, Kristin, Sean, and Preston were blown away by the turnout as there were over 44,000 attendees and 2,222 exhibitors in 19 product categories.