Six out of ten marketers we surveyed agreed with the statement “we will increase budget for interactive by shifting money away from traditional marketing.
Health care and pharma, are you listening? Digital marketing budgets will double or triple in the next 5 years and not for banner ads.
Traditional advertising is much less effective than money spent on interactive marketing and customer experience. By one study, your $1 spent on advertising will generate $5 in incremental value. The same $1 spent on an interactive customer experience will generate $60 in value. Sales and marketing is about engaging people, and 2.0 tools are making that more efficient and effective than ever.
At the Social Media & HIT event this morning, it was noted that 35% of people now have social media profiles. While active users is likely considerably less than that, it shows that social media users are no longer a niche market segment, it is a communication channel. A great channel for two way communication with not only your external customers, but your internal customers as well.
Social media is quickly becoming the way people get their job done, and no longer a fad. Because it is becoming the way work gets done, it is also great way to find out what jobs your customers are trying to get done. According to Christensen, this is the key to every businesses success.