A recent article in Advertising Age, “Advertising Will Change Forever” suggests that companies will double their digital spending over the next 5 years, leaving ad budgets to at best remain the same and at worst disappear entirely.
In this recession, marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent. While budgets for online have decreased, they decreased less than other budgets. Six out of ten marketers we surveyed agreed with the statement “we will increase budget for interactive by shifting money away from traditional marketing.” Only 7% said “we have no plans to increase our marketing budget.”
And it means that social “media,” which will account for $716 million this year between social network campaigns and agency fees, will generate $3 billion in five years. And this doesn’t even count displays ads on social networks (which are in the display ads category.) Of all the parts of digital marketing, social network marketing one is poised for the most explosive growth.
How are you marketing your business? Are your marketing dollars being used most effectively? Is it time to change with the advertising times? Get Started with your new interactive marketing and social media plan today!