From my email came a link to this story regarding Marketing Budget Cuts:
Study: 60% Of Large Companies Cutting Marketing Budgets
Marketing execs polled by MarketingSherpa for its "Marketing During An Economic Downturn (pdf)" report are giving a version of a theme we've heard a lot of, lately. The storyline: big marketers are cutting back overall budgets this year, but not not online spending, which is being largely left intact or getting a small increase in 2008.
Total budgets down: 60% of large companies had either cut or are planning to cut marketing budgets 2008, the survey says, compared to 29% of midsized marketers and only 13% of small ones. Only 16% of big marketers said they were increasing budgets, and 19% reported no change.
Online budgets flat, or up slightly: 38% said they planned to increase online spending, while 45% said online spending would stay the same in 2008. Only 17% said they expected to reduce online marketing, compared to 36% for offline media.
That fits with what the ad holding companies have been telling us about 2008: slower growth for digital ad spending than projected last year, but still healthy growth, compared to offline.
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1 comment:
Hi There Scott,
It is interesting that, as we are pursuing ideas for our Marketing Budget that we came across your Blog.
A very informative Site! As somewhat new to this venue, we will always be looking for tips on marketing.
It is interesting that the ‘Sherpa Report’ shows a third of the smaller companies are not cutting their Marketing Budgets. It sounds like from your post, that this is not a time for making cuts here! In fact, the opposite may be the choice for us.
Looking at the economy gives evidence that times are changing and that has forced a subtle evolution into how marketing dollars are to be dispersed in the future. Competition always increases where there is a need.
Going ‘On Line’ appears to be our best decision yet. Thanks for your Info that confirms that for us.
We have known for sometime how important the Marketing Budget is!
NO Marketing Budget made it so hard to get our ‘Brick & Mortar’ Business going! “I MEAN SLOW!” Therefore, Diversifying and endeavoring to generate additional streams of revenue has brought us to the Internet and we appreciate the goodness of people like you, who are here to help. We will make the effort to peruse your Site to glean all the gems!
Not having any budget (When We Started!) We began our search on finding something with, which to build one. Guerrilla Marketing is one venue we are now moving on. One thing that caught my eye was a question I stumbled on searching for marketing budgets,
“What Is Better Than Free?”
Nevertheless, we found the answer to be in the Jay Conrad Levinson M.O. i.e.,
“Getting Paid For Doing It”
And this was right down our alley!
And now, we will soon be Cautiously GROWING Our Budget!
Thanks again for the GREAT Post, D. P. Gatten. http://tinyurl.com/2d88ck for more.
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