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Fortune 500s Still Learning How To Be Effective Online
Key advertising leaders believe in online media's future. Budgets are expanding, new strategies are being utilized (just look at the amount of different Crispin Porter + Bogusky-led websites and online movies for Burger King, including on MySpace and YouTube). Words such as "recall" to describe campaigns have been replaced by "cross platform impressions".
Yet, the same advertising leaders across the nation question the ability of Fortune 500 companies to use digital media effectively.
Last month at the annual conference for the American Advertising Federation, the AAF released their survey of "Industry Leaders on Digital Media Trends". It revealed that while there is strong belief digital marketing campaigns can be effective, there is lesser confidence Fortune 500 companies are capable to make them successful online. Two-thirds (63%) believe that Fortune 500 companies are "generally behind the curve when it comes to online ad strategy."
Despite all the excitement about viral video marketing this year, ad execs say online video campaigns are still not making a significant impact to TV ad budgets and plans. However, they forecast that average spending on online advertising, as a percentage of the total media budget, is anticipated to increase from 15 percent in 2005 to 20 percent in 2006, and expected to reach 32 percent by 2010...one-third of ad budgets. Whoa, that's big.
If you're looking for peer reviewed online ad campaigns over the last year to study for successes, they recommend (in order): 1) Burger King; 2) Apple and Verizon (tie); 4) Volkswagen and 5) Axe.
I agree. A couple of years ago, who'd have thought a fast food burger chain would be a buzz topic with hundreds of thousands of blog posts, as Burger King has just launched their umpteenth website after CoqRoq, The Whopperettes, Angus Diet, Subservient Chicken, Meat Stackers and HuckinChicken.
A full executive summary of the survey results is available here
posted by Unknown @ Thursday, July 13, 2006,
