As the economy continues to decline in the face of far-reaching and seemingly systemic problems, we’re all watching our spending. Nowhere is this trend more evident than the allocation of marketing dollars.
How has the financial meltdown affected the way we spend our marketing budgets? There’s no question that money is becoming harder to part with, especially when we don’t know what results our investment will fuel.
That’s why smart marketers are now demanding that every dollar spent be more accountable in terms of ROI. They’re demanding more in depth metrics, quicker results, and the ability to connect the dollars they’ve spent to desired business goals.
Interactive marketing is the only channel that provides this infinite level of measurability. It’s by far the most accountable channel – after all, every aspect of an online marketing campaign is measureable with web analytics, allowing agencies to prove ROI and tie clients’ spending back to business results.
According to the Interactive Advertising Bureau, interactive ad spending reached an estimated $21.1 billion in 2007, up 25% over 2006. While statistics for 2008 were not immediately available, it’s likely that 2008 would follow this same trend. Clearly there’s something more than simple demand driving savvy marketers in this direction.
An experienced interactive agency will be able to customize a strategy for a client to ensure that marketing budgets are allocated in the most effective ways. Whether that means search engine marketing and optimization (SEO), Pay-Per-Click, social media, online PR, or a combination of all four, measurement and accountability is the name of this game.
For many, it’s the promise of precise ROI tracking and measurement of desired metrics that align with business goals. In tough economic times like these, marketers are seeking to make the most of each dollar while still expanding their reach into the digital universe.
Ivy Hastings is a Project Manager in Denver. Web Design is beyond her expertise. She couldn’t write a line of code to save her life, but she knows the standards and rules to do it right and makes sure the designers and web developers she manages follow best practices. Ivy is a graduate of UC Berkeley and a member of the Board of Directors for Arts Street, a Denver, Colorado non-profit that teaches kids job skills in the Arts.
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