Procurement & Online Advertising
Online advertising is expected to post 24.4% growth in 2006, while traditional advertising will be up a scant 4.2%. (How deep is the online-ad well?)
So chances are, your enterprise's online ad spending is up – and up big.
Traditional advertising has long been considered more art than science. And artistry has rarely been the purview of Procurement. For example, those of us old enough to remember Apple's 1984 Superbowl Mac ad, a George Orwell homage, appreciated its quality. But there was no real way to track the ads effectiveness in stimulating Mac sales.
Online advertising, it turns out, is a whole lot more quantative. And as a result, Procurement managers are getting more involved in helping maximize value while minimizing cost. (The Procurement Officer: Your New Best Friend)
One way to increase value while controlling your expenses appears to be the purchase of lower volume keywords. They can indicate a buyer further along in his or her decision making and more apt to make an immediate purchase.
Still, setting budgets for Marketing will remain an exercise in intuition and "gut" awhile longer. For marketing professionals, here are some ideas for getting the budget you want: Managing a Search Advertising Budget
