A new Forrester report predicts the imminent death of advertising as we know it in the next five years. Here are some of the highlights from a post on the Groundswell blog:
- 70% of marketers believe the effectiveness of social media, online video, and mobile marketing will increase in the next three years.
- In five years, 21% of advertising/marketing budgets will go toward digital initiatives (it’s only 12% in 2009). Compare that to percentages for TV (35%), newspapers = (14%), radio (12%), magazines (5%). (percentages taken from study author Shar VanBoskirk’s comment on AdAge)
- While spending on digital will increase, most advertising budgets are not predicted to grow. This indicates that money will shift from traditional media to digital.
- In five years, online ad spending will total over $3 billion. In 2009 it’s $870 million.
This post was republished on AdAge, where it generated more conversation (blog comments are some of the best places to find new ideas and resources). One of our favorites comes from Jason Baer:
How long until there isn’t a difference between digital and traditional? If every campaign includes a digital component, why break it out separately?
The data you collect about your online audience is applicable in multiple areas. Think about ways to cross consumer sentiment with your sales figures to look for patterns. Look for peaks and valleys in online activity and compare them to your digital spending.
Try to think of digital as a way to enhance all areas of not only your brand, but in every way you communicate with customers.
