Traditional media budget are increasingly shifted to Internet/ Digital marketing! It is more than possible that also your competition is increasing their internet marketing and digital budgets. How about you?
According to Q3 2011 research from media buying solutions provider STRATA, companies are becoming just as focused on digital media as they are on spot TV.
If you take a closer look to these numbers below, than you can see that the trend is changing! The old school media like spot TV has lost 10% within nine months while the Internet/ Digital gain 11% of budget in the same time.
What does it mean to you? Yes, they shifted their budgets to Internet/ Digital and put a little bit more on top!
- Spot TV Q1 2011 45% – Q2 2011 41% – Q3 2011 35%. This is a decrease of 10% within nine months.
- Internet/ Digital Q1 2011 23% – Q2 2011 24% – Q3 2011 34%. This is an increase of 11% within nine months.
More and more companies shift their budgets to Internet/ Digital to increase reach and decrease marketing costs.
While Internet/ Digital marketing can be measured more reliable, the companies get the opportunity to exactly learn about the road their marketing dollars travel and to improve their marketing to get the best possible results.
As the competition increases the efforts to get seen from the target audience also increase. Companies who want to gain the competitive edge need to build strong relationships with their audience and show them they care.
As increasingly companies discover the power of internet and digital marketing, the air for errors, bad customer service or bad products becomes thinner.
Businesses who want to stay on the top of the game need to listen and to react in real-time. They need to be, thoughtful and accessible 24/7.
What can you do to stay on top of the game?
Do not look around what your competition is doing! Play your own game and walk your own way. Watch out to other industries to get ideas and inspiration o how to step into conversation with your audience.
Use your creativity to attract the attention of you audience. For example, you can do instructional video and post it on Youtube and your website and then share it in social media and ask for the opinion of your network. You can do a blog and you should be actively listening in social media.
Do not try to sell! Just be there, be helpful and show expertise. Then you will attract the right people to your offers automatically.
Measure what you do! If you have no numbers than you dependent on luck and guessing and this you should avoid. To make strong decisions you need strong data.
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