Eric Mower and Associates’ (EMA) John Favalo, managing partner, Group B2B, recently brought his expertise to American Business Media’s conference titled “B-to-B Meets Advertising in an Economic Downturn.” Favalo, past global chairman of the Business Marketing Association and a top strategist for many top B2B companies spoke to business media professionals about changing sales and advertising strategies in the face of today’s challenging economic climate.
“Clearly, marketers are reacting to the changing economy,” said Favalo. “But, it’s not a kneejerk reaction. It’s a continuation and strengthening of a trend toward ROI as a prime driver of strategies and tactics. This is materializing in Q4 spending cuts and reprioritization of programming favoring short-term payback over brand-building. For ABM members, the challenge is capturing an equal or even larger share-of-spend.”
Favalo and other panelists discussed how the media can remain relevant to clients facing economic uncertainty.
“The media need to prove they are an asset versus an expense that a CFO can red-line. You do this by becoming a stronger link in the value chain and leveraging your strengths: audience insight and access, content, and editorial environment in new ways,” said Favalo.
Mike Chapman, editor, Adweek moderated the panel. Other panelists included Phil Johnson, president, PJA Advertising and Marketing and Tom Stein, president and CEO, Stein Rogan and Partners.