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Online ads to weather crisis?

Posted by Michael Bloch in web marketing (Saturday October 18, 2008 )

A recent survey of over 600 advertising professionals has shown many executives have already altered budgets to take into account the current financial crisis. There’s bad news of course.. but also some good news.

The bad news is that 65% of marketers are expecting negative effects on marketing overall and 75% expect the impact of the crisis will extend through 2009 and into 2010 according to the survey from MarketingProfs. Additionally, 25% expect departmental staff layoffs and 43% foresee a drop in salary.

However, while a massive 85% of all marketers stated they would be reducing their offline marketing budgets, 60% said they would be increasing their online budgets.

As bargain hunting will become more prevalent among consumers of all sorts, I believe they’ll turn increasing online to search for the best deals – after all, the Yellow Pages isn’t really good for that sort of thing and print advertising has been growing less effective over the years. There’s already been a marked increase in the use of coupons and consumers are flocking to coupon sites.

The news from the survey means if you’re running a content site, particularly sites focused on a specific topic, and you generate revenue from ads, you’ll likely benefit from more online advertising bucks floating around.

While it may boost prices for merchants through increased competition for ad space, I’m also hoping we’ll see a lot more retailers getting involved in affiliate marketing – it’s good for merchants in that they only pay out on performance. I’m still always very surprised to come across bigger names who haven’t even considered adding an affiliate program into their marketing mix.


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