Blog

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.

We've talked about what factors cause credit union marketing budgets to be higher or lower. But once that budget is in place, how should it be allocated?

It's budgeting season for credit unions—how much of your credit union's total marketing budget will go to digital in 2022? We address this question annually because it changes every year. And despite major upheaval in marketing spending in recent history, the digital spending trend is continuing upward.

As one of the most effective tactics to build brand awareness and drive new memberships and loan applications, advertising commonly consumes a large portion of a credit union marketing budget. The advertising landscape has changed drastically over the last several years. There are now numerous options across both the traditional and digital advertising world, and credit unions must be strategic in how they distribute their advertising budget.

Right now, manufacturers around the world are partnering with marketing agencies to help develop strategies that will fuel their growth and generate more revenue. These partnerships are initiated because marketing agencies offer a cost-efficient, one-stop-shop for many of the marketing services that a manufacturer needs to succeed in the long-term.

Many factors can impact a credit union’s marketing budget. When something does happen, it’s critical to have a ready-to-go plan to address either the increase or decrease quickly. You don’t want to see any drop in your traffic, but the right decisions can improve ROI no matter if you have less or more to spend. The key is to do what it takes to reduce any negative impact on your organization’s revenue. How is that possible?

Our digital marketing budget calculator has been updated for 2020 budget planning. Featured in HubSpot's article, 9 Handy Business Calculators That'll Make Your Life Easier, our free calculator incorporates the latest projections for marketing spending in 2020.

Originally published April 2017. Updated July 2018. Is your business struggling to achieve social media success? Is your company thinking about taking the plunge into social media advertising? Are you getting beat by competitors and looking for a new social media strategy? Companies across the world have had success advertising on social platforms, but others have fallen flat on their face.

Our recent Facebook Live broadcast offered guidance on setting an overall marketing budget, a digital marketing budget, and how to allocate that digital budget across channels to maximize your ROI.