Online marketing is shown to be incredibly effective for attracting website visitors and generating leads. But for many companies, there’s still a place for offline marketing tactics (like print advertising, broadcasting, and so on) alongside those inbound tactics.
So how can offline marketing work hand-in-hand with your online marketing efforts? Is there a way to incorporate both into your larger marketing strategy?
You’ll learn where companies tend to spend their online and offline marketing budgets, which marketing tactics give the best return on investment, and how you can help drive offline conversations through online marketing.
Where do companies spend their money and what provides the best ROI?
More than a third (35%) of senior marketing professional believe that digital marketing will account for more than 50% of marketing spend by 2019.
On average, companies spend 10.4% of their annual revenue on overall marketing activities.
Customers are transitioning to communicating and buying through digital channels, which is why annual digital marketing operating budgets represent 2.5% of a company’s revenue. Marketers allocated 12.5% – the biggest share of their digital marketing budget – to digital advertising.
28% of marketers say they’ve reduced their traditional advertising budget to fund digital marketing activities.
Corporate website and digital advertising share the distinction of being the No.1 digital marketing activities that are important to marketing’s success. Social marketing emerged as the next most important activity.
Where do companies spend their offline advertising budget then?
in 2012 82% of ad-spend was offline; that is a lot of visitors and conversions that aren’t being properly attributed.
Global Ad-spend in 2012 vs. 2015 show that Television was on top of the list with 40.3% in 2012 and 40.2% in 2015.
Ad-spend on newspaper were 18.9% in 2012 and reduced to 15.8% in 2015. Followed by Internet with 18% in 2012 and 23.4% in 2015 despite the increasing awareness of online marketing.
Where are companies spending their online advertising budget?
42% of marketers feel that analytics and working with metrics will become a’core competence’ in marketing over the next five years.
Mobile alone will account for 50% of the marketing budget by 2019.
Digital budgets will account for more than 75% of the marketing budget.
86% of high performing companies use analytics to direct focus and impact, and 80% provide a consistent customer experience.
30% of CMO’s feel that they lack critical technology or tools to drive digital integration.
58% believe that email will regain its importance as a vital online marketing tool.
Which marketing option tends to provide the best ROI?
Social media is an integral part of a business’s marketing strategy that helps to drive it to success. It is estimated that about 53% of people on Twitter mention companies and products in their Tweets while 48% claim an intention to buy.
How to drive offline conversions through online marketing?
According to previous research, it is estimated that 15% of conversions are about products and 23% of conversions are about services, somebody refers to something they saw online.
Online metrics such as clicks, shares and re-tweets don’t impact offline conversion as do word of mouth, which is nine times more voluminous.
Targeting influencers can substantially benefit businesses. About 25% of word of mouth comes from 10% of the population who are most active in making recommendations.
What online marketing channels do companies spend most money on?
According to previous case studies, 9 in 10;
“Business leaders” plan to either increase (46%);
Maintain (47%) their marketing budgets.
Topping the list in terms of planned spending increases was email marketing, with 52% of respondents planning to increase their investments.
Close behind was social media with 46% increase, organic and paid search with 41% increase and online display with 36% increase.
Curiously, 32% of marketers planned to hike their mobile marketing spend, despite recent projections suggesting healthy increase over the next few years.
What offline marketing channels do companies spend most money on?
Spend on offline marketing channels has declined subsequently with 32% of marketers planning to decrease spending on print adverting.
17% of marketers planning to decrease spending on radio/TV advertising. And 21% decrease in direct mail.
How can specific offline and online marketing channels work together?
According to some estimates, 84% of internet users worldwide watch videos online. More than half of millennials watch TV shows on a tablet, desktop computer, or smartphone.
Despite our digital age, 59% of US music listeners listen to traditional or online radio and it drives 5.8% of US retail sales.
69% of adults still trust their local newspapers and it is estimated that 54% of customers are more likely to buy a new product when learning about it from a newspaper or magazine. 43% of businesses also rely on newspaper for local promotions.
Reference:
- http://www.marketingchart.com/online/2014-marketing-budget-plans-by-channel-38888/
- https://moz.com/blog/how-to-track-online-roi-of-offline-advertising
- http://www.smartinsights.com/managge-digital-transformation/digital-transformation-strategy/digital-account-75-marketing-spend-5-years/
- https://blog.kissmetrics.com/how-online-marketing-drives-offline-success/?wide=1
How Online & Offline Marketing Can Work Together for Your Landing Page
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