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.
The July 2021 CMO Survey said that digital marketing budgets may exceed 70% of total marketing budgets in 2022. This statistic is an average across all industries, but where do credit unions fall?
Well, a survey from Forrester said that the financial industry spends more on digital marketing than any other industry. Credit unions are of course included in the financial industry, but we find that they typically spend less on digital than industry competitors.
Our annual survey of credit unions found that only a quarter of credit unions spent at least 50% of their total marketing budgets on digital in 2021.
We would …