Marketers face some tough choices during these challenging economic occasions. The amount of their budgets whenever they dedicate to new advertising options for example social networking? Is that this a period to scale back on marketing budgets, or should marketers spend more money to compete for scarce consumer dollars?
A current marketing survey conducted by Adweek provides some helpful insights into what experts within the field are planning and doing at this time. Participants received a menu of responses towards the question, “How can the economical downturn most affect advertising?” The response selected most frequently (by 30% of participants) was that marketers will “use better targeted ads to enhance roi.” A smaller sized number (22%) stated that advertisers would cut back. Apparently many people in marketing think that reducing advertising isn’t an appropriate way to reply to difficult economic conditions.
The Shift to Internet Marketing
Laptop computer results also demonstrated a powerful curiosity about Web advertising, with 23% of participants stating that the most crucial marketing trend is the fact that “the shift to online would accelerate.” Another 15% of participants believed the most crucial trend was that “ads follows visitors to social networking.”
Despite these results, internet marketing still represents a reasonably small slice from the advertising cake. Based on the latest figures from Advertising Age, Web advertising receives no more than 10% of advertising dollars, when compared with greater than 40% for all sorts of TV advertising. The study service eMarketer predicts that Web advertising continuously grow in a steady rate, by 2013 will represent 15% of total spending.
What Marketing Executives Say
The talking to firm Anderson Analytics lately surveyed people from the Marketing Executives Networking Group to understand the things they considered the very best marketing trends for 2009. Over fifty percent of individuals surveyed thought their budgets would decrease due to the ailing economy. Survey results centered on these five trends:
Insight and innovation tend to be more important than ever before. Participants reported the requirement for more efficient researching the market to speak the best message right customers.
Client satisfaction and customer retention were reported as two of the most important issues for marketers, adopted by roi, brand loyalty, and segmentation. Apparently marketers are focusing more about maintaining your customers they’ve than you are on finding brand new ones.
There’s less curiosity about ecological issues. Climatic change fell considerably like a subject of great interest to marketers. “Eco-friendly marketing” also lost ground. Marketing executives appear to believe that in tough occasions these topics have a back seat to economic concerns.
Marketers are “sick” of listening to social networking. Although marketing executives notice that social networking have grown to be very popular, they appear to consider they’ve been over-hyped, a minimum of when it comes to their marketing potential.
Boomers are the most promising target for marketers. Seniors might be getting grey, and lots of are retiring, however they still represent an enormous, lucrative market. Many are tech savvy and a few aren’t. The task for marketers would be to select a medium along with a message which will attract this type of large, inherently diverse group.