This time last year, organizations, marketers and agencies were heralding the dawn of digital marketing. Today, the realities of global recession are challenging this notion and potentially stalling digital marketing gains made in years past. Marketers the world over are contending with shrinking budgets, fewer resources and cost-cutting measures. For many, the flight to traditional marketing and advertising channels feels like a safe and prudent bet. Now more than ever, advocates of digital marketing must respond. Flash demonstrations, trend-setting, and technical whiz-bang offerings are no longer resonating with marketing executives who, during times of economic boom, were prepared to fund experimental digital campaigns. Today's marketing organizations want results and promise of a return on investment. What, then, can the ranks of digital marketing leaders do about it? A recent Heidrick & Struggles Asia Pacific Digital Marketing Survey suggests that marketing organizations are still woefully under educated as to the dynamics and benefits of digital marketing. Without this knowledge and a subsequent comfort level with the prospects of a digital ROI, many marketers will remain on the sidelines, further postponing the digital evolution in Asia. While markets are down, the digital industry must respond by educating, demonstrating, and converting Asia's marketing leaders by presenting viable, cost-conscious, and easily monitored digital marketing solutions.
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Presenter: Steve Stine, Principal - Heidrick & Struggles