Budget Your Creativity!
2009 was a year of budget creativity! With the economy in crisis and jobs on the line, clients felt the pressure to gain more results from advertising than in the past. BUT, this had to be done with smaller budgets. The result was more one-piece advertising and fewer campaigns to drive multiple messages, as well as relying on one medium (vs. several) and smaller size advertising, thereby generating space for their competition.
Although this created complications in Branding business pressure, in this instance it also strengthened the working relationship between the agency and client. For clients, it instilled the need to be more focused in working with their advertising agencies. It also made those who never worked with agencies recognize the need for advertising for their business this year.
We have seen two completely different reactions among our clients: half are financially focused and the other half has taken the competitive edge in the marketplace while their competition is laying low.
The financially focused clientele have decreased their media placement and increased their online presence by creating new websites as well as using banner advertising, email marketing, social media, and blogging. This direction allows for stronger Branding and an increased message through various vehicles without the limitations printing costs or media placement taken from budgets.
Among the other half of our clientele, we’re seeing the trend of redirecting finances from other areas of the business and focusing it on advertising. They are taking advantage of the lack of competition in the media market place. They increase their media budgets and create several timed campaigns that span a few months and send the same messages through Print, Radio, online advertising, and social media. This strategy not only takes advantage of the lack of competition in front of consumers but also establishes a stronger placement in the market for those companies in a better market in the future.
For those clients with Financial concerns, email marketing is the new direct mail; websites and banner advertising are the new Print campaigns; social media is the new networking; telemarketing and blogging are the new PR. Print advertising is, well, still Print advertising!