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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/