What to do with your slashed advertising budget
9th July, 2009
Traditional marketing activities such as direct mail and advertising have had to cope with slashed budgets in light of the current economic situation and according to a new survey by Forrester Research what is left is being to online activity.
The survey questioned a panel of chief marketing officers worldwide, discovered that;
- 71% of marketing budgets have been reduced in 2009 compared with last year, with more than half cut by at least 20%.
- Spending on TV, radio or press & magazines has been cut by 67% of those surveyed.
- Direct mail expenditure cut by 52% of those questioned.
Online marketing has increase on the whole as businesses want t the best results with their reduced spend. While online advertising budgets were cut by 27% of companies surveyed, 40% said they increased them. Social media spend was increased by 47% of respondents.
If you want to maximise a reduced marketing budget then these figures should suggest that the 'safe' bet is to look at your online activity. Ask yourself how well your website is performing with these simple questions:
- Do you get lots of new enquiries from your website?
- Is the content on your site fresh and up to date?
- Was your site built within the last 18 months?
- Are you on first page of Google when you search for your key service/product
- Do you have a social networking presence i.e. Twitter, Facebook etc?