5 ways to stretch your marketing budget
So here’s the good news: marketing budgets at credit unions across the country are growing. For a lot of CU marketers, though, that means more eyes are focused on how those dollars are spent. The same can be said for budgets that are stagnant or have even gone down. No matter what the state of your budget is, with a few tips and tricks — and a little forethought — more eyes won’t be a bad thing.
1. Don’t Reinvent the Wheel
Even if your budget has increased, it may not be a given to spend time coming up with a brand new campaign. If your current campaign has proven itself with positive results, focus instead on expanding its reach, or finding alternative means of communication.
This can also be applied to what Entrepreneur calls “modular content” where you can create a single design that can be inexpensively updated with new headlines and copy for different markets. This idea leads into our next tip.
2. Do More Testing
Maybe your current campaign isn’t quite hitting the mark, but you’re not ready to throw it out. There’s a chance what you’re saying isn’t the problem, but how you’re saying it — or even where. Portion some of your budget for testing different looks, headlines, and taglines all in different platforms, i.e. direct mail, digital ad buys, radio segments, etc. Put money into researching how and where to speak to your audience, and you’ll reap the benefits.
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