Despite recent Ad-ology Research survey results that show the importance of advertising through a recession, the fact remains that many advertising budgets have been cut.
However new numbers from an Association of National Advertisers (ANA) survey show that while marketers have made short-term changes to their strategies due to economic conditions, they’re also planning for increased advertising during the recovery.
Looking at the short term, few of these marketers reported marketing initiatives that have been shelved or delayed, but many reported reductions in things like media and production budgets and sponsorships. Research and public relations activities are the most likely to be maintained through the recession and pricing deals is the activity most likely to be increased right now.
The really good news is that this group is already planning to bump budgets and advertising as the economy improves. Sixty-eight percent are planning media budget increases and nearly two-thirds of respondents want to increase marketing 3 to 6 months before the recession ends.
The survey also asked about long-term branding and the effectiveness of traditional media channels in brand building:
- Television – 64%
- Magazines – 51%
- Radio – 30%
- Outdoor – 26%
- Newspapers – 19%
Social media ranked highest as the media channel that marketers would like to use but have not yet started using.
Wednesday, Jun 3, 2009
Michelle OBrien