Have you seen Wendy's cheeky tweets? What about cruelty-free fashion brand Wholesome Culture's meme-filled Instagram? These days, companies throw everything they've got at social media because attention means eyeballs — and eyeballs mean money. For every $2.50 spent on social media, businesses can reach 1,000 people, and 9 out of every 10 consumers say they'd recommend a brand after a positive interaction on social platforms.
In light of new regulations and recent media attention, it’s important for banks and financial institutions to brush up on compliance basics and learn how to mitigate legal risks.
In part one of our series on Budget Season for Banks, we discussed the importance of reviewing the past year in marketing. What did you spend, how much, and what was the return on investment? What processes could be improved, and what tools do you need to accomplish your goals? The key to moving forward, is to look back at what worked, and what should be benched. Once you have reviewed your year, it’s easier to allocate budget to high performing initiatives and the tools needed to execute them.