Is your budget moving online?
Forecasts show marketing budgets for 2009 shrinking, and marketers are facing the question of how to make the most of what they have left. Check any blog, magazine or marketing portal site, and you’ll find plenty of experts suggesting that the best way to make effective use of shrinking budgets is by investing more funds in online media.
Why? One reason, of course, is that online media offers a more tangible ROI. With measurable results and trackable responses, marketers are turning to the sure thing rather than taking chances on hitting the target with traditional mass media.
But for international audiences and B2B markets, is online media more effective than local or trade publications, tradeshows or direct mail?
Because my media tells me so…
Lee Odden’s blog post (“Should Marketers Shift Offline Budgets to Digital Marketing? “) addresses the issue and provides a sample listing of several recent articles from the likes of ClickZ, B2B and Direct Marketing Report and others, which talk about shifting offline budgets into online media. Odden says:
“Research and opinions in favor of digital marketing are pretty clear: Invest marketing and advertising budgets in internet and mobile or face the consequences of failure. That’s a bold statement, but is it really true?”
And it’s not just print that’s moving to digital…TV is going the way of online as well. A recent report from Forrester shows that more companies are planning to shift their TV advertising budgets to online video and rich media. With more and more money transitioning from offline channels like television, online marketers are looking to discover how online video can provide measurable results.
Shifting budgets and thinking
But is shifting budgets online enough? Is it really as easy as moving money from Column A (TV) to Column B (online video)? Preparing a marketing campaign that makes use of online media’s advantages requires a shift in thinking, as well as a shift in budgets.
The challenge for the international market is knowing which online media strategies transition well from consumer to B2B marketing. Do you know where your target customers are online? Will your campaign ideas stand up to online clutter? Do they resonate? It’s time to take a long look at what you know about your target audiences…and make that shift online.
What do you think?
Is your company moving more budget to digital marketing efforts? (Internet, mobile, search, or banner ads). If you’re at an agency, are your clients moving toward digital? What tactics are you emphasizing in the new year?
Filed under: Advertising Management, B2B, Internet-Digital | Leave a Comment
Tags: Budgets, online advertising