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U.S. Firms Planned to Spend Third of Annual Marketing Budgets in Q4 06: Blackfriars Report

US companies are expected to spend over a third of their annual marketing budgets in the fourth quarter, a 50% increase over what they spent in an average quarter in 2005, according to the latest Blackfriars Communications report "Marketing 2006: A Make Or Break Fourth Quarter". 

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Trillion-dollar kids; Parents Have Ceded Control

Marketing to children is no longer about hawking toys, sweets and cereal in between the cartoons. Children are now influencing purchasing decisions for grown-up items such as cars and holidays, and firms are responding accordingly (Economist article). 

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Businesses plan to spend $2,000 per every living person in U.S. on marketing

U.S. businesses will be spending nearly $615 billion on marketing this year, according to consulting firm Blackfriars Communications. This forecast is down $385 billion from 2005. In Blackfriars' second annual sizing of the U.S. marketing market, it found that 2006 marketing spending dropped to 4.7% of revenue this year from 8.9% last year. The manufacturing industry again spent the most on marketing in 2006 with spending of $59 billion.

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Outlook for Market and IT Research - Over 10% Growth to Reach $43 billion

Market research will achieve 11-12 percent growth every year through 2009 to reach $39.7 billion while IT research will grow between 7.5% and 9%, to reach $3.2 billion by 2009, according to information industry research and advisory firm Outsell. The research industry includes companies like VNU, Forrester Research, Corporate Executive Board, Harris Interactive, WebSideStory, Telephia, and Info-Tech Research Group that provide research, syndicated market information, subscription-based measurement services, and offline and online panels.

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Marketing Metrics Weekly Roundup

A weekly summary of marketing metrics with stats, facts, and figures:

11.5% earnings drop projected across the U.S. newspaper industry
Merrill Lynch analyst Lauren Rich Fine projected an 11.5% drop in per-share earnings across the U.S. newspaper industry in the third quarter, and forecast that six companies would report double-digit declines. She also lowered her newspaper ad revenue forecast from 1.2% growth to flat in 2006, and from 1.1% growth to a 1.5% decline in 2007.  more>>>

U.S. advertising market grew $73B in 1H06; Internet has 6.4% market share
Total U.S. advertising expenditures in the first six months of 2006 increased 4.1% to $73.0 billion as compared to the prior year period, according to TNS Media Intelligence. After a healthy 5.3% gain in the first quarter, the growth in total ad spending for the second quarter fell back more than expected and finished at 2.9%.  more>>>

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E-mail list prices fall, B-to-B E-Mail Lists Priced at $277/M

Although permission-based b-to-b e-mail was ranked the highest-priced list rental category—with a straight average price of $277 per thousand names in October—it was the largest price decrease among list types compared with the same period last year, according to list manager Worldata in its Fall 2006 List Price Index. B-to-b e-mail list prices decreased an average of $4 per thousand compared with the same period last year.

Worldata List Price Index examines the average price per thousand (PPM) of the lists we have grouped in each category. Triple bars are used in each category for easy comparison of October 2004 and 2005 prices to October 2006 prices.

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Tech Marketing Budgets Projected to Increase by 7.5% in 2006 - IDC Report

IT vendor marketing budgets will increase by 7.5% for the full year 2006, the fastest rate of increase over the past five years, according to IDC CMO Advisory Service projections. IDC's Marketing Staff Throughput Index measures program execution per marketing employee and has increased by about 10% over the past year to $301,400. The average tech vendor is also getting more leverage from its marketing staff as indicated by the IDC Program-to-People Ratio, which has expanded to 65:35 for 2006.

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Advertising executives find Blogs riskier and less effective than Social Network sites

The AAF Survey of Industry Leaders on Digital Media Trends, released today by the American Advertising Federation (AAF), reveals that while there is strong belief among industry leaders in the effectiveness of digital marketing, there is lesser confidence in Fortune 500 companies' ability to capitalize on online advertising. 63% that Fortune 500 companies are "generally behind the curve when it comes to online ad strategy." There is also a wariness of advertising executives regarding their own ability to keep pace with the changing digital environment. 58% said that they personally are "struggling simply to manage existing online efforts, let alone stay ahead of the curve."

Advertising executives find blogs a riskier, less effective advertising vehicle than user-generated content sites such as MySpace, YouTube, Facebook, etc. 62% stated that "blogs are too risky to advertise with due to lack of predictability of the editorial content," while only 53% agreed with the same statement about user-generated content. Despite these concerns, an overwhelming majority said advertisers "should exploit the viral marketing opportunities" of user-generated sites and, to a lesser degree, blogs.

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U.S. Marketing Spending Exceeded $1 Trillion In 2005

Marketing spending at U.S. companies will be nearly $1.074 trillion in 2005, according to Blackfriars Communications. In their first ever sizing of the U.S. marketing market in 2005, they found that if marketing were a vertical industry, it would represent about 9% of the gross domestic product of the United States, and it would rank as the fifth largest industry, behind manufacturing, government, real estate, and professional services.

A key finding in Blackfriars' analysis proved that industry affiliation has a big effect on marketing activities and spending. Retail trade companies spend 11.5% of revenue on marketing, the largest percentage of the six vertical industries studied. In contrast, financial services firms spend only 6.8% of revenue on marketing, the smallest percentage of the industries analyzed.

 

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Marketers Require Better Tracking, Reporting

Marketers face challenges in determining what drives effective customer acquisition and retention. That's according to "Select & Connect: Strategies for Targeted Acquisition and Retention," a report released by the CMO Council. (via ClickZ)
  • 36% of firms in the survey have no formal system for tracking marketing's role in customer acquisition, retention, and value creation.
  • 25% say they have a good degree of grading, scoring, and prioritizing.
  • 21.6% maintain a database for channel and sales access. 
  • 48% monitor churn and retention rates 
  • 42.4 percent don't and 12.8 percent aren't sure what their company does to monitor such activities.

New technologies like Web site optimization (SEO), Webinars, online communities, content syndication, and blogging account for just 8.3 percent of prospecting. The 8 percent is broken down into SEO (50.9 percent), Webinars (27.6 percent), online communities (8.6 percent), content syndication (7.4 percent), and blogging (5.5 percent).

 

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