Due to the current economic troubles, many companies are opting to slash their marketing budgets. That’s the result of a survey carried out by Forrester Research who found that many companies are choosing to spend less money on a marketing agency during the economic struggles.
The survey found that 71% of marketing budgets have been cut in 2009 with on average companies reducing their budget by 20%.
The survey also found that the main sectors that were cut was radio, TV and print management. Although some some budgets for items like sign printing are staying the same as signage is quite an important factor.
Although a large number of companies are cutting their marketing budgets, over 40% of companies are actually increasing their budget for online marketing. It seems that internet marketing is proving to be more beneficial for their business than other forms of marketing.
It looks like if you are trying to get the most out of your marketing budget, internet marketing would be the best investment. When you think about it, it does make alot of sense. It’s better to put money into being found by a person who is actually looking for your companies services. Otherwise you might spend thousands of pounds on marketing your company to people who are not going to purchase anything from your business.
You might think that your site is perfect for your company. However, your website might not actually be performing to it’s full potential. If your website isn’t in the first page for Google for your main product or service, or maybe you don’t get enough orders via your website. Both of these are signs that you might want to increase your online marketing budget.
