Digital Media and Tackling Ad Administrative Costs

How can you make the most of your marketing budget? Today, more marketers are faced with the inevitable, budget cuts. Thus, it is even more crucial to select the “best” solution that will deliver sufficient return. Increased digital media is just one-way marketers can get more bang for their buck, as validated by many CEOs from large companies, such as P&G, Walmart and General Mills. With more shifts to digital, it’s time to start exploring and investing in efficient and creative approaches that will further enhance and extend digital efforts; this will result in even more cost-savings. Read More: Marketers: Digital Offers Us More for Less
This says it all: “For all the sophistication of digital media, the buying and selling of advertising remains woefully behind the times.” According to a recent Digiday article, “some estimates put 20 percent of the costs of ad campaigns on administrative costs like filling out RFPs.” Wow, that’s a hefty percentage that is probably higher among certain companies. Additionally, it’s likely to increase as more marketers rely on digital media. Wouldn’t it be more beneficial to employ an outside expert team to execute these costly, resource-training tasks? Read More: Ditching the RFP
Is social media worth all the buzz? According to a recent Forrester study, 71% of marketing professionals and top executives believe that companies who take social media seriously will gain a competitive business advantage, while 59% of execs believe businesses that do not routinely leverage social media will not survive. While these metrics are very telling in regard to the value of social media, it is important to note that social media is best used when it is appropriately leveraged alongside other forms of media. The true success comes from an integrated, brand-building approach. Read More: Execs: Embrace Social Media or Wither

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