It was interesting to take stock of the observations made in the recent Institute of Practitioners in Advertising report:
They suggest that the…
Hardest hit were budgets for main media advertising and â€˜all otherâ€™ (includes PR, events sponsorship and market research).’ … ‘Internet search was the only category to see an increase yet the rise was only marginal.’
It is also worthwhile reading a recent article in Direct News, suggesting that viral video marketing spend will increase in 2009.
The implication is that the trend to move to on-line advertising and digital marketing campaigns still has life.
Apart from efficiency and lower printing costs, there are other reasons to consider on-line marketing (NB We believe advertising is just a sub-element of the overall on-line marketing strategy).
- On-line campaigns can offer greater granularity when it comes to actually testing to see what works, for example key words, bounce rates and potential consumer attention retention – try saying that phrase a few times!
- A richer interaction with clients, for example – the virtual equivalent of naming a menu item in a restaurant after a client – NB The latter is more about stroking. An on-line approach would be achieved by showcasing achievements by a client and the delivery organisation through web links. In this way evidence or proof of achievement is instantly accessible.
- I previously mentioned traditional print cost savings. The figure of 5% is quoted as a great percentage response to a product marketing campaign. On-line advertising offers greater numbers and potential alignment to cross-marketing related products.
- Corporate Podcasting is one element of New Media that can help improve organisation positioning and provide fast and well structured communication, both internally and externally. For example, if a dealer network needs quick and short updates on products, rather than using up paper, an audio or video update can be a good solution. Another example, is when briefing staff. Rather than sending long powerpoint presentations an audio recording of key summary points together with selective images maybe a more precise and professional approach – Great for Sales ‘rar-rar’!
- Deploying RSS feeds provides an ideal way to ‘push’ information rather than rely on web visitors or email.
In summary, although some financial and political commentators are fuelling the negative aspects of recession. On-line trends may be the only way to ‘ride out’ the wave.