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Marketing Industry Bounce Back
Companies can officially be optimistic about investing in online marketing in 2010, trust us, it's what we do. Not only are we finding that companies who recently increased their online marketing efforts have already seen significant ROI, but there are countless other reasons to believe marketing is bouncing back, check them out.
It’s safe to say we can all be optimistic for the marketing industry in 2010. Here’s why we at NMG think you shouldn’t be afraid to allocate and spend your marketing dollars:
First, statistics such as those represented here from the “US Ad Spending” report by e-marketer reveal that companies will significantly increase their online ad spending this year and in the following years to come.
In addition to the sunny forecast shown, a recent article posted by iMedia provided 13 insightful reasons why we can believe the marketing industry is finally recovering, and we’ve added a few extra hospitality tid bits to back them up:
Clients are investing in social media: It’s not just about posting a few tweets and status updates here and there, it’s about integrating social media into your marketing plan and finding strategic and innovative ways to reach customers such as those mentioned in our last blog "Social Media Tactics that Work."
Shifting budgets, not cutting them: Marketers are evaluating the areas where budgets can be allocated to tactics that are more measurable and efficient, such as mobile and search engine marketing.
Lost and Found money has emerged: Do you have money left over in the couch cushions from 2009? SPEND IT! Think about upping your PPC advertising for example.
We’re all working together: Employees have discovered that two heads are better than one, which ultimately has resulted in more quick and efficient work. At New Media Gateway we say "many hands make small work."
Numbers are up: Q4 turned out to be surprisingly lucrative for the travel industry as well as retail, online shopping showed an 11% increase over 2008 and according to the US Travel Association the travel industry is predicting a growth of about 2% overall for 2010.
Abundance of e-mails: When money is short, e-mail marketing is the most economical vehicle so marketers went a little over the top in 2009. We’re sure to see an abundance again this year, however, those marketers who are tired of e-mails will be shelling out some cash to try some new and interesting mediums.
We’re still wasting budgets: Clients are still experimenting and testing new mediums such as viral and ambient campaigns so we can only expect them to be realistic and willing in 2010, especially when it comes to online spending.
Companies are hiring: According to the International Travel Association Leisure travel is expected to rise 2.0 percent, business travel is projected to increase by 2.5 percent and international inbound travel will increase by 3.0 percent. The travel industry can expect to add 90,000 jobs in 2010 alone!
Mobile marketing is blowing up and brands will need to follow suit: Smartphones such as the iPhone and Nexus One are becoming a staple and catering to them is a must. If a company doesn’t have an app or a mobile strategy by now, they will if they want to live.
Bing happens: Marketers will want to make sure they have a presence on Bing as well as Google and Yahoo! Companies like New Media Gateway can help optimize your search marketing ROI all across the board.
Social streaming: Social network streaming into marketers search engine results has become more popular. Real time is the new pink! If companies haven’t already spent money on social streaming integration, they will.
Small businesses will survive: There are so many new options for small businesses to make advertising easier and more economical such as building their own websites on Intuit or enhancing their listings on Yelp. It’s safe to assume these companies will grow in 2010.
Mergers and acquisitions: What do we do when we can’t afford our rent? We get roommates or we rent out the basement, thus increasing our disposable income (aka our marketing budget). Collaboration can easily lead to optimization.
Now, we’re not saying that you should go and blow your whole year’s budget on marketing but it’s apparent that there will be room to wiggle in 2010, and naturally we believe the wiggling would best be done in evaluating your online presence and business management solutions.
Utilizing products such as our hospitality management platform, which includes an industry-specific CRM, an integrated web-marketing platform and a robust web management system (CMS), can help you make the most of your optimistic budget for a successful bounce back in 2010.
You know where to find us.