Marketing Budgets Get Slashed During Economic Downturn
Due to the recent troubles with the economy that everyone will be aware of, many companies are choosing to cut their marketing budgets in an attempt to save money. That’s the result of a survey carried out by Forrester Research who found that many companies are choosing to spend less money on a marketing agency during the economic struggles.
The survey found that around 71% of companies had cut their market budgets for 2009.
The survey also found that the main sectors that were cut was radio, TV and print management. Although some some budgets for items like sign printing are staying the same as signage is quite an important factor.
Although a large number of companies are cutting their marketing budgets, over 40% of companies are actually increasing their budget for online marketing. It seems that a huge number of companies are finding online marketing is becoming more cost effective.
So it seems that if you are trying to get the most business out of your reduced marketing budget then internet marketing is the way to go. It does make a lot of sense when you think about it. It’s more beneficial to put money into being found by someone is who actively searching for your companies services or products. Otherwise you could spend thousands of pounds on marketing your company name to people who aren’t interested in your business.
You might believe that your site is ideal for your business and you’re getting the most out of it. However, your site may not be performing at max potential. If your website isn’t in the first page of Google for your main products or services, or maybe you don’t get many orders through from your website. Both of these factors are a sign that you should consider increasing your internet marketing budget.
