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Where Are All the Digital Dollars?
By: Janet Kalandranis
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Companies already know they want to be in the digital space, a big player online — don’t they? Although that’s where companies want to be to increase brand identity, many of them are still keeping their dollars in traditional media, where there is a sense of comfort and understanding of what a dollar delivers. With little consistency of how to measure success and ROI around digital initiatives, there is hesitation around moving successful (or somewhat successful) dollars into the unknown realm.

Even with online activities and digital engagement being an accepted part of any marketing strategy, companies are struggling with shifting a large percentage of marketing spend to a medium that can’t easily translate to dollars and/or customer engagement. More specifically is the idea of online video as opposed to traditional cable TV. TV ratings and Nielsen numbers are an accepted form of measurement and success and are now understood by company managers through to a CEO. But with online video, what is success? Are companies willing to take a chance to find out?

Maybe the shift needed is less about budget allocation and more about a focus around project strategy. As stated in Adweek’s article, companies need to allocate dollars based on project and initiative as opposed to dividing percentages by medium. It’s important that this shift happens so project initiatives are outlined by defining the best possible strategies instead of allowing one set of tactics to be applied to all projects. This isn’t one size fits all. By having a change in approach companies can take an honest and unbiased look at each project and determine the best tactics to reach the outlined goals — whether this is cable TV, a digital video, or both.

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About the Author
Janet Kalandranis is here to give you all the little brand thoughts that run through her head with a little dash of spice. Find her online here.
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