The role of digital media, in the world of marketing is widely accepted these days. The records of Econsultance and Responsys have shown that around 71 percent of the marketing firms have already expressed their plans to increase the budget curved out for digital marketing.
Around 565 of the firms have said that they have plans to increase their digital budget within the next year. Cross-channels rule the marketing world these days. Mass marketing is largely not effective anymore. This is the era of building long-term relationship for short –term transactions. The companies have started allocating budget for the process lately. Those will survive, who will be able to build effective long-term relationship with their customers and prospects. According to the reports of surveys done by Econsultancy and Responsys, the firms that are planning of an expansion will also expand their marketing budget.
Internet marketing has become the widely accepted means to increase funding to be channelized to a particular business. That does not mean that the other marketing channels will be neglected. Funds will be pumped into the offline marketing tool too. Apart from digital analytics, focus will also be on content relationship management or (CRM) budget. At least 46% of the businesses surveyed have admitted plans for increasing funds for their analytics channels. They want to get things done within the next 12 months.
The funds allocated for the purpose has its share that will be utilized to recruiting fresh brains in the marketing division. Lack of efficient employees has remained an impediment in the way of smart marketing so far for many companies. This fresh change in thought is expected to bring more investment into their business. The new pool of efficient marketers is also quite net savvy and contributing generously to the digital marketing process of the company they represent.
Now there is a big question of the effectiveness of this digital marketing process. All your digital means cannot be properly exploited until and unless you have the right support from your work pool. The digital marketing process and the new digital efficient work-pool are complementary to each other. If you cannot have both at the right time and right place, your investment will get wasted. So be a smart investor in this new era of relationship based marketing. Hire smartly and spend smartly. You will surely be the winner.