You don’t have to look much further than headlines in business publications or research studies to see that many companies are not only losing confidence in traditional marketing and advertising but diligently looking for more productive and cost effective alternatives.
According to a recent Nielsen and Webvisible study, 82% of consumers & small businesses use search to find information online but only 44% of small businesses have web sites & half of those spend less than 10% of their marketing budgets online.
The changing trends in information production, distribution and consumption by consumers coupled with the uncertain times we live in create an unprecedented challenge for companies to better reach and engage with their customers.
Companies are responding to these changes in different ways. A recent epsilon CMO Study reports that “Nearly two-thirds (65%) of CMOs and marketing execs say their ad budgets will decrease because of the troubled economy, but more of their money will go toward digital/interactive marketing than before”.
According to the The DMA ‘Power of Direct Marketing’ report, “Expenditures in the newer online media will maintain significant growth in the coming year” and “internet advertising will claim more than 15% of all direct marketing advertising dollars in 2009.”
Whether the changes in marketing direction are motivated as a response to market and industry conditions, changing consumer behaviors or the need to stay competitive and cost effective, one thing is certain: companies that don’t nail down marketing efficiencies and customer retention are in for a long, cold winter.
Finding more efficient and effective ways to reach customers through digital marketing is what savvy Internet marketing companies like TopRank do best. Whether it’s expanding market share through broader exposure via search engines, building influence and reputation through online public relations or better connecting with customers through social media, now is the time for businesses large and small, to develop strategies that make the most out of the effiencies and measurable impact from marketing online.
Article Source: AllBusiness.com care of Lee Odden
