Century 21’s CEO, Tom Kunz, announced in an online video interview (Watch the Video – link below) that in 2009 they have decided to pull their advertising budget from TV to focus more on Online marketing.
As Tom Kunz explains they have found that their Return on Investment was much better from their Online endeavours rather than TV or any other traditional media.
In 2008, Century 21 spent only 10% of their massive advertising budget online. However, recent research and testing has shown that their online expenditure was far more productive and efficient than the TV advertising.
We have seen quite a few Independent Agents embracing the internet very actively, however, this is probably the first time that a major Agency has taken any serious steps in this direction, publicly.
With Millions of Dollars being re-routed from the traditional advertising media to Online – it will be interesting times ahead.
What are your Online Strategies and how do you intend to implement them?