Top 5 media mix preferences in a bad economy
Hi friends, as we all agree U.S. economy is under recession, inflation is rising making everything expensive from food to fuel. Initiated by housing market slowdown almost all major companies in U.S. sub prime mortgage industry reported losses and write downs leaving hundreds of people without jobs. Consumers have restricted their spends therefore as a marketers lets look at how we can make most of our buck.
Go digital – reach your target audience using digital channels like email & mobile.
1. Mobile. Mobile is a cost effective media to reach a very targeted audience. Always execute a permission-based campaign to ensure audience willingness and involvement. At www.ekobuzz.com we have a self-service tool where small to mid size companies can simply log in to plan, implement, track and analyze mobile campaigns all by themselves. Saving the agency cost and commission HOW BRILLIANT IS THAT.
2. Email. Aren’t we done with that the answer is big NO!! According to a study conducted by DMA for every dollar spent on email marketing in 2007, marketers can expect an estimated $48.29 ROI. This is exemplary. Email has the highest ROI amongst all the direct marketing media. Also according to State of Retailing Online 2007 report Email is delivering sales at an average cost per order of less than $7, compared to $71.89 for banner ads, $26.75 for paid search and $17.47 for affiliate programs.
3. Social Media. Sites based on user participation and user-generated content. They include social networking sites like LinkedIn or Facebook, social bookmarking sites like Del.icio.us, social news sites like Digg or Reddit, and other sites that are centered on user interaction. Almost 60% of big and small companies have integrated social media in their media plans. It is fast to connect with target and effective in creating long-term relationship with your audience.
4. Pay Per Click Advertising. PPC is one of the most popular methods of online marketing. Its popularity has grown many folds over the years. PPC places your information to searchers at the time when they need and want the services. PPC helps in driving traffic to your website. According TMT trends 2008 Online is forecast to represent 10% of all advertising spend by 2010.
5. Widgets. Widgets are downloadable interactive virtual tools that provide services like latest news, current weather, calendar, time, amp etc. Widgets give your consumers the ability to spread your brand message. According several marketers widgets are not seen intrusive like some other online marketing tools and consumers seem to approve of it.
Thanks for reading and keep reading.
Please send your comments and any specific topic you want me to write.
Kriti Jaising
CMO
EkoBuzz
