| Marketers face some tough choices in these | | | | The consulting firm Anderson Analytics recently |
| challenging economic times. How much of their | | | | surveyed members of the Marketing Executives |
| budgets should they devote to new advertising options | | | | Networking Group to learn what they considered the |
| such as social media? Is this a time to cut back on | | | | top marketing trends for 2009. More than half of those |
| marketing budgets, or should marketers spend more to | | | | surveyed thought their budgets would decrease |
| compete for scarce consumer dollars? | | | | because of the ailing economy. Survey results focused |
| A recent marketing survey conducted by Adweek | | | | on these five trends: |
| provides some useful insights into what experts in the | | | | |
| field are thinking and doing right now. Participants were | | | | 1. Insight and innovation are more important than ever. |
| given a menu of responses to the question, "How will | | | | Participants cited the need for more effective market |
| the economic downturn most affect advertising?" The | | | | research to communicate the right message to the |
| response chosen most often (by 30% of participants) | | | | right customers. |
| was that marketers will "use better targeted ads to | | | | 2. Customer satisfaction and customer retention were |
| improve return on investment." A smaller number | | | | cited as the two most important issues for marketers, |
| (22%) said that advertisers would spend less. | | | | followed by return on investment, brand loyalty, and |
| Apparently most people in marketing believe that | | | | segmentation. Apparently marketers are focusing |
| cutting back on advertising is not an appropriate way | | | | more on keeping the customers they have than on |
| to respond to difficult economic conditions. | | | | finding new ones. |
| The Shift to Online Advertising | | | | 3. There is less interest in environmental issues. Global |
| The survey results also showed a strong interest in | | | | warming fell significantly as a topic of interest to |
| Internet advertising, with 23% of participants saying | | | | marketers. "Green marketing" also lost ground. |
| that the most important marketing trend is that "the | | | | Marketing executives seem to feel that in tough times |
| shift to online would accelerate." Another 15% of | | | | these topics take a back seat to economic concerns. |
| participants believed the most important trend was | | | | 4. Marketers are "sick" of hearing about social media. |
| that "ads will follow traffic to social media." | | | | Although marketing executives recognize that social |
| Despite these results, online advertising still represents | | | | media have become extremely popular, they seem to |
| a fairly small slice of the advertising pie. According to | | | | think they have been over-hyped, at least in terms of |
| the latest figures from Advertising Age, Internet | | | | their marketing potential. |
| advertising receives only about 10% of advertising | | | | 5. Boomers are still the most promising target for |
| dollars, compared to more than 40% for all types of | | | | marketers. Baby boomers may be getting gray, and |
| TV advertising. The research service eMarketer | | | | many are retiring, but they still represent a vast, |
| predicts that Internet advertising will continue to grow | | | | lucrative market. Some are tech savvy and some are |
| at a steady rate, and by 2013 will represent 15% of | | | | not. The challenge for marketers is to choose a |
| total spending. | | | | medium and a message that will appeal to such a |
| What Marketing Execs Are Saying | | | | large, inherently diverse group. |