What should Automakers do?
With a deep economic crisis upon us, where should automakers put their advertising euros?
The automotive industry is in a deep crisis, with factories stopping production all over Europe. A recession is a very scary thing if you produce expensive manufactured goods, we all know that.
And the first thing (or among the first) that happens in a crisis is an almost primordial need to cut costs. People get fired, companies die or get restrutured, expenses are cut to the bare minimum...
So automakers should ask themselves:
Is it worth it to have 60% of my bugdet on TV ads during a recession?
In my opinion no. A recession is a perfect time to consider the Internet as the main medium for your marketing campaigns. But you should invest in smart social media campaigns, and not flashy, unusuble, annoying Flash sites!
Turn your resources into media advantages: videos, personal experiences, test drives, offline material that can be scanned or promoted online, etc, etc, etc... it is really a question of substituting your TV euros with Internet smarts. And do a lot more, with much less money.
According to Forrester, GM is shifting half of its $3 billion marketing budget into digital in the next three years. What are your auto clients doing?
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