In a Tough Economy, Interactive Marketing Holds Up

Today, it’s hard to get through a day without hearing about a slow-down in the economy. The media debates whether we are in a recession or not, and the housing market continues its doldrums. Even big retailers reported that the holiday shopping season was weak. Despite all the fear-mongering that is being reported, some sectors are doing well, such as technology. It is evident though, that times are getting more challenging, and now it’s more important than ever to take advantage of interactive marketing.

New media has proven to be more cost-effective than traditional forms of advertising. Of course the measurability of new media allows marketers to truly optimize their marketing spends on what is proving to be most effective. Since data is normally collected in real-time or very close to real-time, marketers can quickly alter their spends, driving more value out of their campaigns.

A recent study titled Marketing and Media Ecosystem 2010 found many marketers planning to increase interactive marketing efforts. “More and more marketers, as well as agencies and others across the industry, have embraced the reality that interactive is the fulcrum on which their brand strategies need to be based,” said Randall Rothenberg, President and CEO of the IAB. The study also found that 80 percent of marketers indicate that consumer insights and behavioral targeting are attractive aspects of using new media.

So when it comes to your organization’s marketing budget, will you spend it on expensive television commercials or print media? Maybe you’ll decide to drastically cut advertising period. Competing for discretionary dollars is going to become more intense over the next year. Wasting money or not advertising at all could prove to be disastrous in the face of fierce competition. One thing you can do, which is one of the least expensive methods of reaching your customers, is email marketing. The costs are minimal, and when email marketing is done the right way, the ROI can be huge.

Interactive marketing will enable you to stay strong as the economy weakens. Many marketers are slow to embrace change and will continue to spend money on expensive traditional methods. This is where you can beat the competition by acquiring customers for less, increasing ROI and market share. At the very minimum, maintain a strong web presence, utilize search for customer acquisition and email for customer retention. These tactics alone will drive real value and positive ROI for your organization. Stay strong with interactive marketing as your main advertising weapon.