How should you spend your marketing dollars to attract new customers and grow your business?
It’s not news that the way to advertise a local business is changing, but the speed with which it’s changing IS a little surprising.
Digital marketing is becoming an increasing percentage of most marketing budgets, replacing traditional marketing channels such as print advertising, television advertising and telemarketing. Each of these more “traditional” marketing strategies now has a digital replacement being integrated into websites and social media outlets rather than print or traditional television viewing.
According to the 2012 CMO Survey:
• Traditional advertising spend has, for example, experienced a 161 percent DECREASE over the past year.
• Print advertising has declined by two-thirds over the last 20 years, down from more than $60 billion in 1990 to just $20
billion in 2011.
• Statistics show that the average budget spent on telemarketing was cut in half in 2012.
For companies to have success now and in the future requires keeping up with, and moving toward, these constantly-evolving digital marketing technologies.