Marketing Budget Trends – Are You In Sync?
With the new year, marketers face one more challenge: to create a marketing budget that takes advantages of the latest trends, reaches their target market on various old and new media and effectively communicates the brand’s message.
Before you start working on your budget, you may want to consider what your competitors are doing and what the industry trends and latest surveys are showing.
I ran across this chart last week and I thought it may be useful to you when deciding how to allocate your marketing budget.
It’s not surprising to see a decline in traditional media in favor of more online and new media dollars. Who is still using telemarketing anyway and why do companies still spend money in this area?
Keep in mind that this chart is very general and marketing budget allocations will vary from industry to industry.
Your turn. How are you seeing your budget changing in the coming year? Are you embracing more the online space and less the traditional space. Is your goal to use old and new media together to create a uniform platform?