If more and more of your credit union's marketing budget is going to digital, you'll want to read this article. According to Martini Media, credit unions and banks allocated about 40 percent of their marketing budgets toward digital marketing in 2013. By 2017, digital will account for nearly one in three dollars spent in U.S. advertising reaching close to $44.5 billion in ad spending.
One of the best bets for your digital marketing dollar is quickly becoming Pandora Internet Radio. If you’re curious why more advertising dollars are being shifted toward Pandora media buys, here are some reasons why Pandora is worth it:
- You can target your marketing efforts with almost pinpoint accuracy with segment and sub-segment choices that include household income, auto preferences, ethnicity, education levels, home and business ownership, etc.
- 28 percent of U.S. adults that are online stream music on their computer or smartphone; yet only six percent are willing to pay for commercial-free online music.
- Compared to other online ads, Pandora only play one in-stream ad at a time, so marketers have the listener’s full attention.
- Users are less likely to tune out the ads since Pandora runs less than two minutes of commercials per hour compared to the up to ten minutes of broadcast radio stations.
- Pandora is a clear favorite of the 13 to 35 age group with 39 percent of them using it. The next closest is iHeartRadio with only eleven percent.
- Ten out of the ten best-selling passenger vehicles in the U.S. now come with Pandora.
If you'd like to learn more about Pandora, CU Solutions Group has worked with numerous credit unions to help develop a creative, effective and successful media buy. Click here to contact us today.