This post comes from the The Star’s business section (12/11/09). Innovative marketing platforms grow more popular as companies explore ways to cut costs, survey finds.
“The recession has accelerated the trend as consumer packaged goods firms and retailers look for more cost-effective ways to get their message across, joining technology firms who were earlier adopters of new media, according to a new survey by Ipsos Reid.” – The Toronto Star
For years, digital media has taken the crumbs left from advertising budgets after traditional advertising practices take their share. Marketers are running in auto pilot if they think bigger spend print, TV, and radio is what engages consumers to buy. They need to grasp that in digital marketing the potential reach from more inexpensive tactics reap greater ROI for their clients. See the full article.
A national print campaign can cost tens thousands if not millions of dollars for note-worthy brands. However, the exposure is limited by the number consumers of print content. And with readership on the downward slide, advertisers must also include TV and radio to get full exposure. In traditional media it is also very difficult to measure the return on such an investment.
In the digital space it is clearer on where your target consumer spends their time. And it’s time for marketers to embrace this. Look at current consumer trends. They are all showing that consumers are looking to the Internet to make educated buying decisions. They are talking with their friends and peers. They are members to Facebook web sites. They are listening in to Twitter feeds. They are scanning blogs and consumer review sites. All to get a better picture of the brands they are loyal too or they aspire to have.
Get them where they are. Online. And to do so is fraction of the cost of traditional methods. And the ROI can only be that much higher.
