Marketers now earmark on average 15 percent of their media budgets for nontraditional outlets, according to a new survey by the American Advertising Federation. And 73 percent of those responding said they now allocate up to 20 percent on emerging or innovative media.
Just over 10 percent of those surveyed said they still earmark all of their budgets for traditional media, while 12 percent said they direct up to 40 percent of their ad dollars to nontraditional venues.
The survey polled approximately 1,000 ad industry leaders, the AAF said. This marks the first time the industry group has done such a study.
A majority of those polled (80 percent) said that the pace of change in media in 2006 was faster than in the previous year. And almost 60 percent said they anticipate the pace of change to accelerate even more in 2007.
The most surprising innovation in 2006 was the rush to advertise in the Second Life virtual community, with 77 percent of those polled saying they didn't see that trend coming. The second biggest surprise was the rise of YouTube, according to more than 60 percent of the respondents. Third on the list of surprise innovations was the popularization of "mash-ups," or Web contents that originated with more than one source.
The most expected innovations were the availability of TV programs on the Internet, the mass adoption of text messaging and the rise of social networking.
When asked to rate their own performance at managing and adapting to change, one-third of those polled gave themselves high marks while about 20 percent said there was a lot of room for improvement.
A slight majority (52 percent) said they were "more likely to anticipate, prepare for and get out in front of changes in the media landscape in 2007."
Among specific media, newspapers (51 percent) and network TV (35 percent) were seen as the outlets with "the most opportunity for reinvention."
Steve McClellan, Adweek. February 7, 2007
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