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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.”

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.

Marketing personalization has evolved far beyond using someone’s name in an email promotion. When credit unions have access to member information and the ability to retrieve data from a CRM, customized campaigns can target an individual’s current situation and reach that person at the time the need is real. A survey by Epsilon reports that 80% of consumers are more likely to engage with a company that personalizes experiences. Achieve higher rates of return by reaching the target audience when they are more likely to engage with an offer.

Listening to potential customers and tracking their inquiries is beneficial to manufacturing marketing for many reasons. A primary benefit of documenting questions (by phone, form submission, email, and chatbot) is to gain ideas for future content but it also shows how the content that marketers created attracts new prospects or reveals opportunities to enhance (or pivot) the approach.

B2B manufacturer marketing is not flashy because unlike B2C it is not about new trends and selling an irresistible product to people with disposable income. In B2B, there has to be a justifiable business need for someone to seek out products or services and since the investment is usually large, the buyer has no room for purchasing errors. That means the buyer needs a lot of clear, organized information that instills confidence that the product or service will work well in their process, integrate with the existing system, and solve their problem.

The US regained a sense of normalcy in 2022, until inflation became the primary concern - causing interest rates to rise and the volume of loans to decline for the financial sector. In the ever-changing economy, it was more important than ever for WebStrategies to conduct the newest edition of our annual survey pinpointing how credit union marketing dollars are being spent and what digital tactics reflect the strongest return on investment. Our survey found marketers are still growing digital marketing efforts into 2023 but as in-person events are returning, marketing dollars are also increasing to offline channels such as events and sponsorships.