How Fast is the move to Social Media. It’s moving very fast.
AUTOMOTIVE Media Dollars are on the move. Here’s a portion of a great article from Ad Age. The big obstacle will be the addiction to traditional automotive advertising. Why? It’s what dealers know. It’s like comfort food. This is a good read!
Auto marketers face a big task in the coming year: how to stretch their marketing dollars and how to master digital media.
Borrell Associates projects that overall new-vehicle ad spending in 2010 will rise to $19.2 billion, but that’s coming off a year when it projects spending, when fully tallied for 2009, will be down 17%. “Nobody expects auto advertising spending to come back to where it was before, at least not in 2010,” said Mary Collins, president-CEO of Media Financial Management Association, a trade group of financial people in the media industry.
A lot of the outlay will go toward unmeasured media. Ms. Collins said that Ford Motor Co.’s Jim Farley, group VP-global marketing, told a conference that the automaker plans to spend half its 2010 ad budget on “experiential” and online marketing, because 75% of new-vehicle buyers now shop online. Jeff Schuster, an exec director at consultant J.D. Power and Associates, also expects a much bigger march into social media by automakers.
Still, it’s a learning curve for an industry accustomed to big TV blitzes. “I still believe the industry is too addicted to television (advertising),” said Michael Jackson, a partner in SarkissianMason, New York, and former VP-marketing and advertising at GM.
It’s time to really evaluate your media plan. Do you have any money planned for Social Media. I encourage you to take this step. You don’t want to play catch up in this arena. Plus, really look at your digital plan and how your Social Media plan will complement it. NOTE: You don’t want to get out of traditional media but you do need to build a competitive multi-media plan. It’s really not an option any longer! It’s a must do!