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More ad dollars reserved for new media
A new study indicates more brands are reserving dollars for new media sources.
According to the study from the American Advertising Federation, up to 73% of online marketers are reserving 20% of their ad budgets for new and emerging media. About 12% of those marketers say they reserve between 21% and 40% of their marketing budgets for new media.
What are these new mediums that advertisers are betting on? Television programs viewed on the Internet, text messaging and social networking are believed to be the biggest draws. The study also indicates that marketers want new ways to use traditional media (78%), a balance of traditional and non-traditional media (75.5%) and increasing awareness of new media properties (57.7%) in order to remain competitive.
One surprising result from the study is that many of those polled believe traditional mediums are in need of a make-over. The respondents indicated that newspapers (51.4%), network television (34.5%), radio (33.8%) all needed to be overhauled to remain competitive with new media like social networking sites, online video and other consumer generated media.
Magazines are not exempt from the overhaul message that marketers are sending. According to the categories of business magazines (46%), women's service (25%), fashion and beauty (18.8%) and men's (17%) magazines are all in need of a make-over to remain competitive in today's market.
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