Using Online Marketing to weather the storm of recession
Sep 30, 2008 Economics, Search Engines
The first blow appeared to come from economic uncertainty in the presidential race, and mixed emotions on economic growth numbers. The second blow undoubtedly arose two weeks ago with the news of investment banking collapses and takeovers, plunging the markets into a downward spiral. It seemed that the markets were optimistic about the so-called $700-billion dollar Government bailout, but it was not to be and resulted in the third blow to companies across the US. But hope springs eternal, especially in light of economic hardships, which always tend to spur innovation and opportunity for those that take calculated risk. Online marketing may be the key that catalyzes the next innovation.
The world we live in today is much different from 6-8 months ago. Consumer spending is erratic, fuel costs are skyrocketing, privacy concerns are paramount, but desire to succeed where others have failed is stronger than ever. The next big thing is unlikely to emerge from existing big business because many companies downsize or “right-size” to weather the storm. The workforce and therefore the economy tends to self-correct slowly in time, due in part to small business and new start-ups. And starting-up is easier than ever.
If it hasn’t already, economics and trade is primed to shift to the virtual world as and increasing horde of technology-savvy investors and entrepreneurs venture forth into new national and international markets. Traditional retailers, franchises, and centralized organizations will find new local competitors, able to compete again for the first time in years due to the increased costs of oil and foreign production. Consumers will finally realize that supporting local industries and businesses benefits not only the community, but also the economy as a whole. How much better are local businesses at fulfilling customer service needs, and then some?
Consumers should become more aware of the value of their dollar, increasingly aware of borrowing money they don’t have or can’t repay, therefore making more informed decisions. Coming to informed decisions and researching the true value of any product or service is where online marketing will find it’s place in the world. Upcoming generations are primed and ready to be mavens of e-commerce and e-marketing, tired of get-rich schemes, telemarketing, and outsourcing.
Our generation and those with money to spend look to online channels first and foremost: researching, evaluating, deciding, and recommending. Fulfill the needs of all these intentions and you’re well on your way to becoming successful through online marketing. The great traditional advertising push is becoming less prevalent and less effective, but the intellect and strategy necessary for an advertising pull is strengthening.
The dream is alive and well and it’s online. Getting started is easier and more affordable than ever for those with the motivation and drive to succeed. All you really need are good ideas.
Are you ready?
October 2nd, 2008 at 11:51 am
[...] This offering from PPC Advice gives their outlook on the staggering economy and its impact on the online marketing industry. It’s a positive one, and for all of our sakes, we can hope it pans out like they predict. [...]