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Innovation is the name of the game for 2008, judging by an October 2007 Next Level Strategic Marketing Group survey of marketers.
Nearly two-thirds of respondents said their upcoming strategies would include innovations, line extensions or new marketing initiatives.
Past regrets were partly responsible for the focus on new thinking. More than one-fifth of respondents
wished they had been less dependent on “tried-and-true” marketing tactics in 2007 and found more creative ways to reach their audiences.
Although more than half of respondents planned to kick off a new ad campaign this year, they did not necessarily expect advertising to have the biggest effect on business. Only 13% thought that new ads would affect their businesses the most in 2007.
That uncertainty about the effect of advertising is understandable given the changes in media consumption. US consumers are spending more time online and often using DVRs to time-shift their TV viewing, creating a disconnect with marketers who rely solely on the same old ad buys they've made for years.
Many marketers expect TV ad budgets to take a hit in the next few years, according to a BusinessWeek survey.
That is in contrast to Internet ad spending, which was picked to decrease by the fewest respondents.
The best way to succeed at a resolution is to keep it simple. The plan for 2008: Innovate, review the ad media mix and don't rely only on the tried-and-true.
Learn how ad spending will trend in the next five years. Read eMarketer's US Advertising Spending report.
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