If you’re only spending 1% – 5% of your marketing budget on your digital presence, it’s time you start increasing that. With more community and megabanks competing, and more potential customers turning to the internet and Google searches to compare what banks offer, if your bank isn’t competing in the online space, you’re behind the curve.
In this episode, Dan Novalis and Chris bates discuss the steps to planning your budget, checking out the competitive environment, and figuring out your allotment across marketing platforms. They stress the importance of your digital marketing budget, how to allocate your branding spend, your measured direct response, and why you need to take advantage of short-term opportunities.
Topics Include:
- What your budget should be
- How to plan your budget
- Using strategic planning and marketing to achieve your bank’s goals
- What the current Competitive Environment is
- Identifying your competitors and what they’re doing
- Long-term ongoing budgets vs short-term opportunities
- What your allotment should be across marketing platforms
- Branding spend vs. measured direct response
- The importance of digital marketing – it’s growing at 12.8% annually!
- And other topics…
Resources Mentioned:
- Website: The Bank Marketing Show, www.bankmarketingshow.com