Given the downturn, what can a company do to maintain an effective advertising and communications strategy?
If I am advising a client who is pressed for budget, I would obviously look at areas that are attracting consumers and also those that offer value. Today, people are spending more than 20 per cent of their time online (of the total time spent on various media). Also, there’s been a rapid growth of mobile telephony that takes a lot of our time and much can be done there, too. However, compared to this trend, most clients are only spending 12-13 per cent of their advertising budgets online, which, in my view, needs to be corrected. Along side, there is a situation today where the price of communication in old media is coming down, making it more attractive. The philosophy of airlines selling empty seats at the last moment at very low prices is coming to traditional media, too (catching the ads at the last minute before the press/TV deadline). Hence, clients today have many options and can take their pick of media. Given these trends, most media owners who are focussed on one media and on
