Signals from the Field

We regularly update this article with the latest information pertaining to Digital Marketing Budgets for Credit Unions.

Last update: November 2023 

Social media advertising for credit unions has changed quite a bit over the past few years. Finding and converting your target audience on Facebook or Instagram at one point felt akin to shooting fish in a barrel; not only could advertisers tap into the demographic attributes and on-platform interests and behaviors provided directly by users, but Facebook’s partnerships with third-party data providers allowed advertisers even more opportunities to target exactly the right person with the right message.

A credit union that has funds in the marketing budget available for brand advertising may consider YouTube or CTV. We've seen success for credit unions driving brand awareness since these rapidly growing channels are cost-effective and scalable. To illustrate the growth of these two platforms:

ChatGPT and other AI tools have taken the world by storm. When ChatGPT was first released, people in countless professions worried that it might threaten their jobs. Now after several months of application, the realization is that AI is a powerful tool with enormous potential to disrupt how business is done. And those who use it regularly find it becomes more helpful the more they use it.

When you start using marketing automation software for your credit union, you want to choose a system that prioritizes the security of your member’s sensitive information.

There have been numerous reports of data security breaches in which millions of people’s sensitive data has been compromised. That’s why security is always a top priority for credit unions. Your marketing automation software should be no different.

Equipment manufacturers and B2B marketers typically have a niche target audience that makes broad advertising tactics a waste of money. Instead, campaigns targeted to specific industries, companies, and positions within those companies are more effective because the marketing budget can be honed in on the right people - potential buyers.

Generative AI has emerged as a game-changing technology, revolutionizing the digital world in unprecedented ways. From industry advancements to the potential for credit unions to leverage this technology, the impact of generative AI cannot be overstated.