The Ideal Marketing Budget for Financial Institutions

Banks + Credi t Unions:

The Ideal Marketing Budget

Bringing Strategic Creativity to Your Brand

mcdougall + duval advertising | 978-388-3100

According to research from The Financial Brand.

What is the Industry Average?

The Average Marketing Budget for Banks= .073% of Assets

By this measurement:If your institution has $500 million in assets, your

marketing budget should be $365,000.

What is the Industry Average?

The Average Marketing Budget for Credit Unions= .10% of Assets

By this measurement:If your institution has $500 million in assets, your

marketing budget should be $500,000.

What is the Industry Average?

Surprised that credit unions have a higher average marketing budget?

Credit unions need members.There is a big correlation between marketing spend

per member and membership growth

What Should Your Budget Be?

Bringing Strategic Creativity to Your Brand

mcdougall + duval advertising | 978-388-3100

First, what are your goals?

You want to experience GROWTH!

To experience growth…

Base your budget allocation on the asset size you WANT to

reach next.

Then use the industry average percentage.

To experience growth…

If your credit union wants to reach $1 Billion in assets. Your marketing budget should = $1 Million

Need More Help?

ContactMcDougall + Duval!

Bringing Strategic Creativity to Your Brand

mcdougall + duval advertising | 978-388-3100

www.mcdougallduval.com

Read more: • http://thefinancialbrand.com/36606/bank-marketing-budgets-2014/• http://thefinancialbrand.com/42406/calculating-credit-union-marketin

g-budgets/