Saturday, September 20, 2008

Making the Most of Your Marketing in a Downturn

Digital marketing is changing the landscape because it is low cost, targeted and trackable. The state of the economy appears to be accelerating this change. It is said that advertising spending is like the proverbial canary in the economic coal mine – when the national ad spend goes down, it is time to worry about the prospects of the economy as a whole.

As reported in a recent mobilemarketer article, the ad industry can be generally described as sluggish, but for non-traditional media it is positively bullish. "Non-traditional media is the engine of growth in the national ad market, outstripping traditional channels in terms of incremental increases and approaching giants such as print and television in terms of total spending. Mobile is the epitome of [a] non-traditional media [and is] the only channel with the ability to interact and integrate with all other channels. [A]dvertisers prefer cost-effective online, mobile and voice strategies in a slowing economy. Those channels provide quantifiable results with shorter turnaround and lower overhead than their traditional mass-media counterparts."

Difficult times require the most effective mediums. When money is tight, marketing efforts must maximize return, to this end marketing initiatives must be targeted and trackable. Digital marketing strategies can measure and define success. The inherent measurability and relatively low cost of digital tactics are more attractive when the economy is less strong, which is why digital will be amongst the few sectors that will grow this year. Digital also provides some affordable promotional tools (Web 2.0 is a great example). Because of its unprecedented reach, mobile is perhaps the most exciting. Mobile is a lower cost, targeted channel that can be part of unique, dependable results-oriented marketing campaigns.

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