With the recovery in the stock market and proclamation by the government that the recession has ended, many companies are struggling with marketing decisions. Most corporate marketing budgets were cut over the past year due to the economic downturn and no one wants to be left behind when the recovery starts.
A story in the Oct. 27, 2009, issue of the Wall Street Journal discusses this subject (“Silicon Valley Makes a Bet with Ad Blitz”, page B1 at http://online.wsj.com/home-page). According to Ben Worthen and Jessica E. Vascellaro, technology companies are beginning to launch marketing campaigns asap.
There were two interesting points that came from this piece that are relevant to any industry:
1. Companies better start marketing now
2. The forward thinkers are using a combination of traditional and new media to reach consumers
According to Dean Crutchfield with branding agency Method, Inc., “Everyone is trying to be the first mover. This is a market now where you stand out or die.”
The piece goes into depth about why companies like Yahoo, Microsoft, Cisco Systems and Juniper Networks are investing so much into their growth. The bottom line is the market leaders believe that the competitiveness of the business climate today means that marketing is more critical than ever.
The second point is that these visionary companies are embracing a dynamic multi-media approach that includes new media and traditional strategies. Not only are they employing newspaper ads and billboards, they are revising their logos and adding digital tactics like on-line videos and web ads. They recognize the wisdom of this approach, which is the single most cost-effective way to tap the enthusiasm for a company’s services, products or brand.