The largest changes in marketing spend over the past five years have been reallocating advertising budget from traditional media to new media outlets and shifting focus from transaction-based marketing to building product/service reputation.
In 2010, during an interview with Jim Farley (Ford’s VP of Global Marketing) in Marketing Week, he explained how these changes had already began taking shape after the success of the Ford “Fiesta Movement” campaign: “Three years ago, digital would mean being on a buying site where you compare competitor prices and used values. Today, digital presence is more about favorable opinion… We’ve changed our digital spend from transactional marketing to building the reputation of the products. We’re taking resources away from TV, or even variable marketing incentives, to fund earned media.”
In predicting the integration of PR functions into overall marketing campaigns, he said: “The biggest trend over the next five years is in public relations; it will move from a concierge, introductory business to the most important promotional aspect of a company’s business. PR’s function holds the keys to authentic media, content that people really trust.”