A new study from the Aberdeen Research, “Recessionary Marketing: How Best-In-Class Companies are Weathering the Storm” found that 82 percent of companies have redistributed their marketing budgets because of the Recession.
Elizabeth Glagowski reported in the current issue of 1to1 Weekly in the article “Where Do Marketers Spend their Money During the Downturn ” that according to Jeff Zabin, research fellow in Aberdeen Group’s Customer Management Technology Practice:
There is momentum away from traditional media toward online marketing activities that allow for customer behavior tracking and concrete metrics. The report found that a majority of best-in-class companies have cut their traditional media -60 percent have cut television and print advertising, 45 percent have cut trade promotion, and 62 percent have cut their event budgets. Many of those who have cut traditional advertising are increasing their investments in infrastructure and technology to enable social media (68 percent), email marketing (47 percent), online promotions (41 percent), search engine marketing (38 percent), and mobile marketing (16 percent).
Glagowski reported in her article that Zabin found that a lot of companies are starting over. Zabin said, “A lot of organizations are completely revamping their marketing plans from the ground up. Companies are now trying to figure out how to drive consumer demand without incurring as many costs, or making sure the costs they incur are worthwhile.”
How are you driving consumer demand without incurring as many costs?