- Image by DavidErickson via Flickr
In November 2008, BtoB Magazine, a magazine for marketing strategists, did an exclusive survey of marketing executives. The results were reported in their December issue. Among the results are some encouraging numbers for vendors to the industry.
According to the article’s author Kate Maddox, of 211 b-to-b marketing professionals, 31% plan to increase their marketing budgets, while 43.5% will keep their budgets flat. Only 24% will decrease their budgets in 2009.
From the article: “Significantly, of those planning increases, one-quarter intend to raise them by more than 20%, and nearly 9% plan increases between 15% and 19%.”
Some traditional media platforms will also see increased spending next year, including direct mail (36.9%), events (31.0%), telemarketing (21.8%) and print (20.6%).
However, while some marketers plan to increase spending on these media, others plan to cut spending. The survey found that 33.2% of marketers plan to cut spending on print; 30.5% will cut spending on events; 25.6% will cut direct mail spending; and 21.3% will cut outdoor advertising spending.
Where’s the money going? You guessed it: “social media” and the internet. According to Dr. Joe Webb at WhatTheyThink.com, printers can win some of that spending by exploring the “role of new media in strategy development and tactical implementation”. Print is a crucial media component in the marketing mix.
See the whole article here.
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31 Comments
Fantastic read, will add your site to my rss feeds.
Thanks man!
Aye what Roger T has stated, though really good article!
You always have such great informative post with lots of great ideas. So, keep sharing and I’ll keep sharing them on my favorite social network or social bookmarking sites! Thanks.
Many Editorials have gone bust hear in East Europe. Very insightful re: media expenditure forecasts. Thanks
Mr. Green
Budapest, Hungary
Interesting post, thanks for it.
That's all very well slim ps3, but what about those traditional industries that rely on marketing money for their survival. Take away this cash flow and the newspapers, billboard owners, etc will begin to fall. A society needs print – not everyone in an internet junkie.
I think the current economic climate will push marketing managers towards getting more value out of their budgets. With new work drying up, marketing companies will want to keep existing clients by striving to perform better, hence the look towards less traditional forms of advertising. I suppose the forward thinking marketeers have already exploited this area and had the best value out of it by being in there first. At least tough times force change.
Agreed. It's hard to do my Sudoku on the internet!
I remember an article in Time a couple months back was discussing the move from paid periodical and newspaper subscription to online media. So much of the online news is garbage though! I'll never give up my morning Washington Post (gotta have my crossword)
Agreed. It’s hard to do my Sudoku on the internet!
Only 24% will decrease their budgets in 2009 – good enough, but not low enough for safety.
Online marketing is the only place where money is still pouring in. Magazines, newspapers are already losing the battle.
Love this article, thank you for posting!
Hi..it was a gripping post hi……
Social media is one of the instrument that online entrepreneur use to advertise their products or services, for them advertising through social media is really effective
maybe marketers themselves are experiencing some difficulties in this fields that's why they cut 32.2% on print as we all know we are now experiencing global crisis which really have a big effect to our economy
before putting money on anything you should think many times especially nowadays we are experiencing global crisis, this post is really informative keep it up
The problem is people are spending more and getting less. They have to focus on the best medium for their product instead of going 'gun-ho' on all the mediums out there. You would be suprised at the results!
to increase our leads, SEO plus Social media will surely give us a higher return of our investment, tried and tested to bring our website to fame.
Yep. This is what the data shows. How do those of us in traditional media make that transition, I wonder?
It is so important to utilyze social media if you plan on internet marketing. It is sad that traditional marketing platforms are taking a hit, but it just makes sense to put your marketing dollars in an area with the most viewers! The loan modification experts at Adjust My Loan utilyze social media all the time!
Good article!
Cheers,
Loan Modification AdjustMyLoan.com
social media is really shining above,,,, many business mans had used it to promote their business or products,, no wonder why social media gets the money,, pretty smooth right
I just wonder if there is any money left in the market… all I see is compan ies just getting rid of their employs and cutting costs.
thanks for these information, it's really advisable to know where our money is going and how we can control it properly this will increase our ROI and keeps our business in good shape.
Great info! we really need to track down where our money was going, this will give us a better idea on how we can solve problems regarding money issues.
Agree with your thoughts that marketers spending 33.2% of their budget in print. Marketers should notice that problem because it's really a big issue.
I agree with your post.. and it's sad to see how the 33.2% of marketers plan to cut spending on print..
Thanks! I'll be writing more on this subject, as it seems to be a popular one.
Hi,
Seems to be working.
Great Post! Keep up the good work! Bookmarked your blog for future reference.
JEff, You have a deadlink on this BTBOL article.
Roger
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