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According to an eMarketer study,
The increase on spending for future years is also predicted, as can be seen in the graph below.
My big question: why are billions being spent on advertising? Shouldn't these figures be going down if we're spending less on traditional advertising?
I thought social media, PR, and online marketing were becoming more widely used, but I guess I was wrong. Why is it that companies seem to be so hell bent on spending millions on advertising? Plenty of research has shown that it is not as effective as it was in the past, and research also shows that PR is more trustworthy, cheaper, and more in line with communication that makes sense. (Two-way communication, that is.)
Advertising just isn't worth the money companies are spending on it right now, and consumers are smart enough to realize when a company could be doing good rather than simply advertising about the good they plan to do. (See my rant on this in an earlier post.)
The study does address this issue a bit by answering my questions, but not fully.
What are your thoughts? Set me straight if I'm completely wrong here, but I thought advertisements were far more expensive than hiring a social media specialist. More importantly, those advertisements that companies buy only air for 30 second intervals. A social media specialist is working at the company's online presence 40 hours a week, 52 weeks a year. That sounds like a better deal to me, even if you did pay the social media pro millions a year, which is usually not the case.
PR & Marketing | US Ad Spending on The Rise
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According to an eMarketer study,eMarketer estimates that US online advertising spending will reach $25.1 billion in 2010, representing 10.8% growth over last year. Relatively healthy economic gains, along with the ongoing shift of marketing dollars from traditional to digital media, have contributed to the double-digit increase. (source)
The increase on spending for future years is also predicted, as can be seen in the graph below.
My big question: why are billions being spent on advertising? Shouldn't these figures be going down if we're spending less on traditional advertising?
I thought social media, PR, and online marketing were becoming more widely used, but I guess I was wrong. Why is it that companies seem to be so hell bent on spending millions on advertising? Plenty of research has shown that it is not as effective as it was in the past, and research also shows that PR is more trustworthy, cheaper, and more in line with communication that makes sense. (Two-way communication, that is.)
Advertising just isn't worth the money companies are spending on it right now, and consumers are smart enough to realize when a company could be doing good rather than simply advertising about the good they plan to do. (See my rant on this in an earlier post.)
The study does address this issue a bit by answering my questions, but not fully.
That greater spending has also contributed to the ongoing shift of marketing dollars away from traditional media toward the Internet and other digital advertising. Brand marketers in particular recognize more than ever that connecting with target audiences means more spending for interactive. (source)So, companies see the value in being interactive; that's all good and well, but wouldn't one be safe to assume that companies would be spending less through being interactive, not more?
What are your thoughts? Set me straight if I'm completely wrong here, but I thought advertisements were far more expensive than hiring a social media specialist. More importantly, those advertisements that companies buy only air for 30 second intervals. A social media specialist is working at the company's online presence 40 hours a week, 52 weeks a year. That sounds like a better deal to me, even if you did pay the social media pro millions a year, which is usually not the case.
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