Marketing, Money and Mindset
10 February 2010
Marketers around the world are acknowledging the importance of social media, and some are even setting aside a decent budget for it.
Simon Young says this change is about more than money - it's about a change in mindset.
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An eMarketer report shows that US marketers are planning on spending a lot more on social media this year. A survey by the Digital Leadership Group here in New Zealand confirms kiwi marketers have the same idea - except for the budget part.
84% of kiwi marketers surveyed plan to allocate less than 5% of their budget to social, even though they say it's important.
Procter and Gamble and Pepsi both made waves recently by choosing social media over more traditional forms of marketing.
Procter and Gamble are particularly strong on Facebook . It's interesting that the world's biggest marketer, which could easily create its own social network (and has in the past) is now embracing Facebook. It fits in with P&G's philosophy of taking the brand experience to where the customer already is.
It'll also help with P&G's innovation - something they're very good at.
Pepsi, meantime, have eschewed a Superbowl commercial for the first time in 23 years, instead opting for a long-term social media commitment based around enabling people to support their favourite charities.
It's all very interesting to watch. Not only are dollars shifting from one medium to another, but marketers are facing a big shift in mindset. From broadcast to dialogue, from product-centred to cause-centred.
What do arts marketers need to learn from these corporate behemoths? Or do we have a few lessons that the business world could learn from?
