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Three-quarters of marketers’ budgets were cut this year in reaction to the recession, and two-thirds were expected to drive more sales with an equal or lesser budget, according to one recent survey. Using digital media has become the top strategy for marketers who want to improve effectiveness without spending more.
More than one-half of marketers also reported shifting spending away from brand-building initiatives, and 38% were putting more spending into lower-cost media, including virtual events such as webinars.
According to another survey by virtual events provider Unisfair, marketers’ top priorities next year are customer acquisition and retention, followed by thought leadership. As a result of these priorities, half of the marketers surveyed reported that virtual events were one of the top three initiatives they planned to increase in 2010.
It looks as though some marketers expect their 2010 budgets to increase, but as they will still need to be paying more attention to the effectiveness of each dollar spent, digital media will continue to grow as their communication channel of choice.
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