Many companies have had to reevaluate their marketing budgets during the recession. According to the 2009 ANA/MMA Marketing Accountability Survey, three quarters of marketers had their adspend decreased this year, and two thirds are expected to drive more sales with an equal or lesser budget.
Thankfully, digital media/online marketing has softenend the marketing budget blow for many. More and more companies are now competing in their respective industries on popular search engines like Google. The June 2009 poll indicates that the number 1 strategy for marketers that want to campaign effectively without spending more was to move from traditional media (print, television, radio) to digital media.
Some of the tactics employed by marketers to improve marketing effectiveness in order of popularity include:
- Shifting advertising investment from traditional media to online media
- Moving away from Brand Building Initiatives to focus on Promotional Advertising
- Making use of lower-cost media — The Internet
Fourty percent of the companies surveyed said that senior management viewed marketing as “an expense”, however, sixty percent viewed marketing costs as “investing in their brand “.
In 2009, businesses no matter how big or small, are viewing the online environment as a worthy platform upon which to market themselves. Although competition is fierce, those companies that take the time to learn about Internet Marketing, SEO, and web analytics will reap the ROI rewards offered by being in the top position of Google.