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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.

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

We regularly update this article with the latest information pertaining to marketing budgets for manufacturers. Last update: November 2022 Based on industry-provided research and our own experience, we’ve identified a realistic marketing budget calculation for manufacturing companies who are ready to more fully leverage the internet to generate business.

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.

According to the World Council of Credit Unions, the average age of credit union members in North America is 53. Since the overall median age of people in the U.S. is 38.5, credit union members are squarely on the older side of the population. To build a member base that will grow over the next several years and decades, attracting members under age 45 is the goal for most credit union marketers.

While credit unions have long been known for their low rates and trust-worthy business practices, younger consumers in this digital-first era have different priorities. In our exclusive, Consumer Banking Preferences & Behavior Report, based on a survey of 1,000 banking consumers, we learned that there is a wide gap between what consumers under 45 value and those that are 45-plus value in a financial institution. It is up to marketers to resonate with consumers on things that matter most to them which may require changing up the message as well as the channels in order to reach a younger audience.

Effective websites attract visitors to your pages over competitors’ but a poorly designed or non maintained website can actually drive away prospects. Your website is the face of your business and if done well, is the primary tool for capturing the attention of prospective customers.