Thursday, February 11, 2010

Follow the Money

For those of us who've made a living off ink on dead trees, the findings of a new global study by Econsultancy is instructive. If the newspaper jobs are drying up because of the lack of advertising, it's going to get worse. The study finds 41 per cent of marketers will decrease their spending on print and other offline media this year.

According to Silicon Valley Watch, the study questioned 1,000 company and agency marketers around the world.

- 28% are shifting their overall budgets to digital in 2010.

- 66% of companies plan to increase online marketing budgets.

- 30% of companies are keeping online marketing budgets at the same level.

- Forecast: 17% increase in digital marketing budgets for: social media, mobile marketing, email marketing, and search.

70 percent of in-house marketers plan to increase their budgets for off-site social media marketing efforts, using agencies to engage with audiences on Facebook, Twitter and other networking sites.

But according to agency respondents the biggest impediment to digital marketing investment is a general lack of understanding of digital marketing channels. Just under half (48%) of agency respondents cite this as the key reason, which prevents their clients from investing more money in this area.

If these findings are reliable, what might they mean for skilled journalists who've taken to reporting the news and telling the stories of the day online -- in personal blogs, private web sites, social media sites and e-mails? How can some of those marketing dollars find their way to the pockets of the people who dig for the facts and tell the truth?

Source: Silicon Valley Watcher