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Marketers Moving Online in Downturn
5/8/2009
Follow the money.
Economic recessions tend to hurt budgets of all stripes, and the advertising business is no exception.
According to data gathered from an eMetrics Marketing Optimization Summit, the budgets of more than 54% of marketers worldwide have been negatively affected by the recession. More than 6% said it had affected their budget positively, meaning a few CMOs are extremely brave. During tough times, more marketers are adopting digital marketing techniques. Over 90% of marketers polled by eMetrics said they would increase or maintain their spend on e-mail advertising, and more than 83% said the same about paid search. The largest decreases were planned for social media and general online advertising, but even those paled in comparison to overall online spending increases. In addition, many marketers are realizing the need for increased digital intelligence. One-quarter of the respondents said they planned on increasing their Web analytics budgets, and over 60% planned to maintain spending. Other research also shows that marketers are moving dollars online. A 2008 McKinsey & Company survey found that 55% of global marketing execs planned to cut spending on traditional media in order to fund increased online efforts. The move to online has become so steady that Laura Desmond of Starcom MediaVest predicted that the advertising industry is headed toward a “50%-50% world,” where one-half of spending will go to online campaigns. Look inside eMarketer. Never miss important data or analysis. Learn about a Total Access subscription today.
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