Episode 54 - Traditional vs. Digital Ads: Which is Really Better for Financial Institutions

Hit Record Podcast - FI GROW Solutions

In a detailed discussion, Meredith Olmstead, CEO of FI GROW Solutions, and Nida Ajaz, VP of Marketing, explore the complexities and strategies involved in combining traditional and digital advertising for banks and credit unions, emphasizing the need for clear messaging and budget balance.

Key Takeaways:

1. Importance of Messaging: When it comes to ad placement, special attention should be given to the messaging. Whether it's traditional or digital advertising, the call to action (CTA) needs to be crystal clear. The messaging should align with the campaign’s overall goal, whether it's promoting a new product or creating brand awareness.
2. Synergy Between Traditional and Digital: Both traditional and digital ad placements have their own unique benefits, and neither should be entirely sacrificed for the other. Brands should aim for a cohesive strategy that uses both types to optimize reach and results. For example, SEO-optimized landing pages and digital ads can reinforce and track the effectiveness of traditional ads.
3. Budgeting & Tracking: It's crucial to balance the budget between traditional and digital ads. Traditional ad placements are usually more expensive and less directly trackable, so they may be more effective as short, concentrated campaigns that allow for 'lift' measurement. On the other hand, digital campaigns should be run continuously to maintain visibility and search ranking.