Around the Net

Media Firms Must Think Beyond Advertising

Advertising represents less than 30% of the average marketer's communications budget. The rest goes to performance-based marketing, such as event marketing, public relations, direct marketing and consumer research. To get a bigger chunk of those non-advertising dollars will take innovation.

At tech publisher IDG, only 40% of profits are generated by magazines, compared to 80% five years ago. "We used to use databases to drive subscriptions. Now, we use magazines to drive databases," for events and other profitable efforts, says Bob Carrigan, IDG president.

Antony Young, president of Optimedia U.S., says to uncover innovations, his media agency has tripled the size of its Strategy Resources Group and made more than 70% of the company's staff into strategy/planning executives. They've learned that top touch-points for brand performance include shopper marketing, such as in-store sampling, coupons on packaging, in-store promotions and free gifts.

advertisement

advertisement

Read the whole story at JackMyersThinkTank.com »

Next story loading loading..