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In previous blogs (A Brighter Look at an Impending Recession), I’ve written about the recession and it’s affects on not only the US economy but also on online marketing. Well, what once was an “impending” recession is now in high gear, making things even stickier for advertisers, marketers, and businesses alike. So I thought I’d touch base on what the latest word on the street (street, as in, online marketing sources) was. An article by Kevin Lee from ClickZ discusses some basic, yet crucial, ways that online marketing may be affected by the recession:
-Changes in the number of searches
-Conversion rate changes
-Budget driven changes in the advertiser landscape
These three changes are still only an estimation of what could happen. In all cases, Kevin gives examples of why it may or may not be affected. For example, the number of searches may change for better or for worse. It’s possible that consumers could feel more price conscious, and therefore, be less willing to spend money in any media channel (offline or online). OR searches could go up because it’s possible that consumers view online shopping as “discount shopping” and therefore choose to spend more money online than they may offline.
However, as I mentioned in my last blog on the “impending” recession, there seems to be a good level of optimism in the air. And based on the ClickZ article, Kevin Lee also confirms this with a number of industry leaders and investors that he has spoken to about this. Where other media channels may be taking a hit, online marketing is still seeing growth.
I think the recession that has come to be (or so sources say) will play out a lot differently than previous recessions. Online marketing was barely able to see the dawn of the last recession in 2001, so it’s hard to predict what may happen this time around, but I feel strongly that staying on top of the issue and being one step ahead, will help squash any fears of a sinking campaign during tough times.
April 16th, 2008 at 2:18 pm
[…] the past, we’ve written about speculation of a recession and how the current state of the economy will affect online marketing. Luckily for us, […]