Field Reports1 Oct, 2008 By: Thomas Haire, Jacqueline Renfrow Response
"Advertising expenditures started to contract in March, well before the September turbulence on Wall Street renewed concerns about the health of the economy and possible collateral damage to the ad market," says Jon Swallen, senior vice president of research at TNS Media Intelligence. "Second-half results, particularly for television media, will be bolstered by the Summer Olympics and political elections. However, sustained improvement will most likely depend on a turnaround in consumer spending that rejuvenates corporate profits and encourages marketers to expand their advertising efforts."
The most affected media was broadcast television, which dropped 2.4 percent, in part due to the writers strike. Cable TV was up 3.1 percent and national syndication was up 10.2 percent because of the programming schedules.
Some companies chose to hold back on some marketing rather than reallocate television-advertising dollars. Procter & Gamble decreased its television budget by 7.6 percent and AT&T decreased its budget by 15.6 percent.
"While expenditures are certainly indicative of the challenges being presented by the economy, they also suggest the continuation of the long-term trend of marketing dollars migrating to media, such as the Internet, cable TV and syndication, that provide the ability to more effectively target specific audiences," says Dean DeBiase, CEO of TNS Media Intelligence. "With advertising budgets and CMOs under pressure and uncertainties continuing to exist relative to consumer spending, it appears marketers are placing an emphasis upon enhanced efficiencies for their brands and the ability to engage with well defined audiences to ensure ever greater return on investment."
Haire to Interview Tree.com's Lebda as Keynote of N.Y. Financial Marketing Event
NEW YORK — Tree.com Chairman and CEO Doug Lebda will be interviewed live on stage by Response Editor-in-Chief Thomas Haire as the keynote of iMedia Connection's Financial Marketing Summit on Tuesday, Oct. 21, at New York's Metropolitan Club. More than 100 senior marketing executives from across the financial services spectrum are expected to attend the exclusive event, which promises to explore the state of interactive marketing in financial services.
With the current upheaval of financial markets, the timing for such an in-depth look at marketing strategies could not be better, according to Masha Geller, iMedia Connection's content director. "Given today's financial climate, it's imperative for senior marketing executives from a broad range of financial services companies and their agencies to join together and explore the interactive marketing challenges and opportunities for this important sector of the advertising community," she contends. "We're thrilled such thought leaders as Doug and Tom will be joining us to open this summit and start the conversations that will guide our industry through this storm."
The daylong event also features past Response cover subject Bryan Stapp, formerly chief marketing officer of Quicken Loans who is now CEO of Loud Amplifier Marketing. He will sit in on a pair of panel discussions. Other speakers and panelists include representatives of such companies as Prudential Financial, Accuquote, Zillow.com and eBureau.
The event will conclude with a cocktail hour reception at the historic Metropolitan Club building. For more information on the event, visit imediaconnection.com.