Online Media Shift Part 1
Seems, we are having trouble getting our posts done on the blog this week. It has been a busy one. Today, we finally get to our first post of “You are Not Alone”. These posts will come fast and furious and share perspectives from others.
The original question was posted on Linked In:
Are you shifting budget towards online marketing?
With the unstable economy, are you facing budget cuts? Have you made the decision to shift from traditional programs to online marketing efforts or are you planning to stick with what has worked for you in the past? I’d like to focus on this in my blog and would like to hear some additional opinions and/or real world examples.
We received several really thought out examples and we will post them here throughout the weekend. Most marketers feel that there is a shift from traditional to online happening. Companies are in various degrees of making this happen. Marketing budgets are undergoing cuts with the economy being to blame.
The first response, we’d like to share is from Kim Le Quoc of Forrester Research. She is an expert in the field of emerging technologies. She writes:
Most advertisers are now fully aware of the need to integrate new media to their traditional media mix. One sure sign of it: some of the largest advertisers in the consumer product goods (CPG) industry have begun to make significant shift from traditional media to new media.
In September 2008, Kellogg announced their digital ROI had surpassed their TV ROI over the past 18 months, specifically referring to their Special K challenge (please see link enclosed to the related Advertising Age story).
It doesn’t mean most advertisers know how to integrate new media to traditional media. Most of the CPG advertisers we talk to at Forrester still spend less than 10% of their mix in new media.
Why? 1) They lack data to prove to their management that CPG brands do need to find new ways of engaging with their consumers, leveraging the opportunities offered by new media 2) They often don’t know where to start: should they blog? Invest in social networks? Have a profile on Facebook?…etc.
Two of my colleagues have published a book that summarizes the challenges advertisers usually face when willing to include social media in their mix: the Groundswell.
In a few words: they take the issue upside down, starting with “which social technologies should I use?”, instead of first defining what their social objectives are as well as their consumers social media profile.
You will also find a lot of good (and bad) examples of what makes a great social media strategy.
Links:
http://adage.com/article?article_id=130747&search_phrase=Business
http://www.forrester.com/Groundswell
Thanks to Kim for sharing this advice and we recommend checking out her links. Groundswell is an excellent resource for learning more about Web 2.0. More perspectives to come as we continue to look at shifting from traditional to new media.
Posted: November 7th, 2008 under Online Advertising, New Media, Social Media.
Comments: none
Write a comment