It’s obvious to all that the Internet has fundamentally changed the business of marketing, transforming consumers from passive recipients of messages through TV, radio and print to active participants in a dialogue about the products and services they prefer through online research, user-generated reviews, blogs and other web-based media. Jim Jay of our TechPoint initiative summed it up nicely by saying, “Today, a viral video can spark more views and ‘buzz’ than a well-placed TV ad. A well-conceived e-mail campaign can trigger a stronger response than a blizzard of direct mail…”
Marketers have adapted. From 2003 to 2008, the traditional media sector—including media agencies, publishing, and broadcast and entertainment—lost 32% of its market value (nearly $137 billion), while new media (online content and services) gained 102%, or $58 billion. A recent Chief Marketing Officer survey by the American Marketing Association says that CMOs plan to triple the budgets allocated to social media over the next five years.
All of the change that’s roiling the media/marketing landscape creates great opportunities for innovators and cutting-edge companies. Fortunately, Central Indiana is home to a growing cluster of marketing and media firms and institutions that put our region in a great position to capitalize on these trends – businesses like ExactTarget, Compendium Blogware, Aprimo (which launched from Software Artistry), Vontoo, 5 Buckets, Lights Out Intelligence, Market Path, Cantaloupe, Delivera, Formspring and many more. There are more than 70 companies operating in this space in the state of Indiana.
This growing e-marketing sector is also served by leading research institutions. Our own Ball State University is a national leader in digital media research and development through its Center for Media Design.
It’s time for Indiana to capitalize on the potential of this high-tech ‘micro-cluster.’
Today, TechPoint, with the support from the IEDC, announced Indiana’s Measured Marketing Initiative, a national media relations campaign to position Indiana as the leader of this fast-growing, emerging technology business category encompassing social and digital media and marketing – TechPoint has dubbed it “measured marketing.” The goal for this initiative is to raise awareness, generate customers for existing businesses and attract companies to create jobs and investments in Indiana.
Measured marketing companies provide a platform or service for digital marketing via email, social media, search, video, mobile and other rapidly evolving technologies, and they provide clients with return-on-investment tracking.