We’re hearing a lot about digital cutting into radio advertising budgets….but does that need to be the case?<\/p>\n
According to a survey by technology research firm Gartner Inc., 68% of senior marketing executives said that their company had a separate<\/i> digital marketing budget.<\/p>\n
According to the survey, marketing executives are three times more likely to lead strategic growth initiatives in 2015 than they were in 2012.<\/p>\n
So let’s think about this. If digital marketing is all about growth initiatives, of course marketing executives can justify new and separate budgets for digital.<\/p>\n
If you have a once-in-a-lifetime opportunity to hire a sales person who can guarantee to increase your sales dramatically, do you cut budget elsewhere or reduce your sales support staff to pay for that growth opportunity?<\/p>\n
Of course not. If a new sales person, or digital initiatives, really can increase sales, those initiatives are paid for out of that growth!<\/p>\n
And when C.D.s became popular, did consumers replace their car radios to pay for CD players, or did they find extra budget to add the CD option?<\/p>\n
Where there is perceived benefit, we can always find more budget.<\/p>\n
A Forbes magazine article about the Gartner survey said “Changing market dynamics, an empowered buyer, channel proliferation and a connected economy open up a wealth of strategic growth opportunities for organizations in every sector.”<\/p>\n
Who wouldn’t invest more budget in growth?<\/p>\n
The article said, “For marketers in 2015, it’s less about digital marketing than marketing in a digital world. Hence, marketers manage a much more balanced and integrated marketing mix than in previous years.”<\/p>\n
Is it time for you to spread the word that digital doesn’t replace broadcast, but rather is a component in an integrated marketing mix with radio to increase the sales?<\/p>\n