Ad executives are going to have to change the way they do business and include more progressive methods to reach customers. Marketers want more focus on other advertising like online video and social networking sites and less on traditional media alone. That’s according to a recent article in the Wall Street Journal.
As the economy slows, more businesses are attracted to Internet advertising. Not only is it often less expensive, but it’s also easier to measure than tv and print ads. Every prediction I’ve seen shows growth in this space outpacing growth in traditional advertising methods. Merrill Lynch predicts ad spending in the U.S. will grow 2.3% this year and that businesses will move more budgets online – increasing the portion spent online to 18%. Publicis Groupe’s ZenithOptimedia says it spending online should exceed that spent on radio as soon as this year. The Internet should outspend magazine advertising by 2010.