Article: “Social media strategies give hope to ad agencies”
Source: Boston Business Journal
Two parts in the article are important to remain realising oneself:
“Indeed clients are expected to spend $2.4 billion on social media networks advertising globally in 2009, a 17 percent increase over last year, according to eMarketer Inc. in New York. By contrast, global ad spending in 2009 will drop 0.2 percent to $490.5 billion, according to ZenithOptimedia in London.”
and
“Tedford attributes that growth to the fact that while social media is still relatively unproven as an ad vehicle, it represents an inexpensive alternative to traditional media in this economy.”
This is one of many indications to marketing agencies and companies that they need to explore these new possibilities, looking at the figures, the intentions are real, even if Social Media is still in its exploration/early phase (with regard to monetizing).
Supported by the current economic tendencies, the need for participation and ownership in creation of the product/service by the ‘prosumers’ and the neverending flow of traditional ad expressions and the fact that the Internet is one big word of mouth and content machine, is making Social Media essential.
One part is often underestimated, that is that Social Media might be cheaper, looking at the direct costs, the learning curve(s) are a barrier, time investments need to be made, to create strategies and tactics, explore the hundreds of platforms. This does often not match the shrinking in budgets by companies.
Are you experiencing this kind of decision-making?
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