Episode 69 - How to Set Digital Ad Budgets for Your Bank or Credit Union

Hit Record Podcast - FI GROW Solutions

In this information-packed episode, Meredith Olmstead, CEO of FI GROW Solutions, and Ida Burr, Director of Digital Ads Management, dive into the nuances of budgeting for digital ads in the banking and credit union sectors. They discuss the strategic allocation of funds across various types of digital advertising, including social media, pay-per-click, display, and YouTube pre-roll ads, to optimize both engagement and conversions. Whether you're managing a small budget or scaling up, their expert tips on adjusting spend based on audience size and campaign performance are invaluable for anyone looking to enhance their digital marketing strategy.
Key Takeaways:
1. Strategic Budgeting: Allocate conservative budgets for social media ads aimed at increasing brand awareness, while prioritizing higher budgets for PPC ads that are more likely to drive conversions. Display ads should be used judiciously, with an emphasis on complementing other advertising efforts.
2. Audience-Driven Allocation: Tailor your advertising budgets based on the potential audience size and specific market characteristics. This ensures that financial resources are efficiently used, maximizing impact without unnecessary expenditure.
3. Integrated Advertising Approach: Employ a balanced strategy that integrates various ad types, including PPC, social media, display, and YouTube ads. This integration helps maintain visibility across different platforms and enhances the overall effectiveness of the advertising campaign.