NEW YORK: Some 66% of US marketers have "shifted towards more short-term strategies" as a result of the economic downturn, while just 5% are increasingly looking to the long term, according to a recent study by the Association of National Advertisers.
The ANA surveyed 129 marketers in April 2009, and compared these figures with similar research among 297 of its members in February 2007 in order to assess their strategies both during and after the downturn, a full analysis of which, by WARC Online's US Editor, Geoffrey Precourt, can be accessed here.
It found that 89% of respondents regarded their product as an integral brand-building tool, with a further 80% of participants ascribing such a role to a company's employees and website.
Price was selected by 79% of those surveyed as essential to developing a brand, followed by marketing communications on 78%, advertising on 73%, and "community service" on just 33%.
With regard to measuring "brand health", the number of marketers focusing on consumer satisfaction rose from 37% in February 2007 to 48% in April 2009, while those emphasising "brand preference" fell from 49% to 31% in the same period.
In terms of brand equity, just 64% of ANA members taking part in the poll saw television as an effective brand-building medium, down from over 80% in 2007, while online saw an increase to 61%, having barely registered two years ago.
Looking to "unimplemented media channels" – which could indicate where advertisers' future strategy may lie – 36% of contributors said their social media strategies had not been fully realised as yet, falling to 19% for word-of-mouth and buzz marketing, and 14% for mobile communications.
Subscribers to WARC Online can access a full analysis of the ANA's survey by clicking here.
Data sourced from WARC Online