Traditional Media Advertising Still Out Spending Digital, For Now
So far, many companies have continued to spend more on traditional media marketing than on digital marketing but some feel this trend might be changing rather quickly.
Thinkvine, a marketing mix optimization software company, has released their findings from a recent survey they conducted which polled 200 chief marketing officers (CMOs) from companies of various sizes. The survey results showed that just a quarter of the CMOs polled, responded saying that their companies are spending more money on digital media marketing than they are on traditional media marketing. However, 51 percent of the polled CMOs expect spending on digital media marketing to finally eclipse spending on traditional media marketing.
“Consumers in general spend more time with digital media, but it’s important for each brand to know how their specific customers consume media and how different media types work together to achieve sales and brand objectives. Companies can’t take a one-size-fits-all approach to their marketing mix,” said ThinkVine CEO Mark Battaglia.
Its worth noting that Battaglia also stated that companies should take a cautious approach to digital marketing warning them not to “blindly follow the crowd”.