Social Media claiming more dollars from Major Marketers
At the Digital Conference of Ad Age, digital marketing strategies were revealed by giants like Converse, Dell, Lexus and Best Buy. The conference saw a big buzz about the diminishing investments in traditional advertising and increasing investments in digital marketing.
At the conference, Chief Marketing Officer (CMO) of Converse, Geoff Cottrill said that the footwear maker is making around 90% expenditure towards emerging media and less than 10% expenditure on traditional media. According to him, the main reason for this is that the present scenario makes social media unavoidable. He also pointed out that on platforms like Facebook, the conversation regarding the image of the brand is no longer controlled by a brand manager. In a field where authenticity is considered to be the essential conceit, the strategy of standing back appears to be the best tactic, even though it might seem risky at times.
On the other hand, Lexus, the luxury car maker is also investing more media efforts in digital plays. Though Lexus considers TV to be a key ad strategy, less than 50% of the expenditure is done on it. According to the CMO of Lexus, Dave Nordstrom, majority of the brands have involved the use of some kind of emerging media. He feels that consumers have a unique habit of choosing a media so investors must advertise on media they prefer. Even, he pointed out that Lexus’s sponsorships are placed on YouTube and it works on the iPad applications.
Major companies consider social media to be having more potential in terms of direct sales. The CMO of Dell, Karen Quintos stated that when they require help, they often turn to social media. In matters of procuring products, they require help regarding the challenges faced by the Chief Information Officers (CIOs). He also said that purchase decisions are made by 90% of CIOs through social media. Like other companies, Dell is also looking forward to compose that sort of socially driven recommendations into their descriptions of products. Suggesting a possible endeavor for entrepreneurs, he said that working professionals would love a company that is capable of combining all leadership thoughts about procurement.
According to Drew Panayiotu, head of North American Marketing of Best Buy, these shifts into digital media are a fundamental question as to how the companies have to constantly re-establish themselves. The Super Bowl ad of Best Buy characterizes various marketing ploys. The fact that after appearing in the commercial, Justin Bieber tweeted to his followers is an example of how media expertise can be displayed by the retailers.
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