Sour Economy+Thrifty Consumers=Internet Advertising

Writing by Brick Marketing on Saturday, 14 of June , 2008 at 10:41 am

As we discussed before, businesses are turning away from advertising and marketing using traditional media such as newspapers, television, and radio. Business owners are seeing their competition getting the edge by reaching a larger market share with online campaign using the same budget or less, and it just can’t be ignored any longer. It’s move on, or move out.

The current economic downturn is forcing consumers to research the best possible price for the best service, and the more consumers research businesses and services online, the more they are weeding out companies without an internet presence.

Robert Jaques at vnunet added his voice to the discussion on the internet’s increasingly large piece of the marketing and advertising pie.

Experts predict that internet advertising in the US will continue to “grow fast” in the face of an economic downturn that will force a reduction in overall ad spending.
IDC forecasts that current economic conditions will accelerate the transfer of marketing budgets from traditional to new media.
Internet advertising will grow about eight times as fast as advertising at large between 2008 and 2012, according to the analyst firm, while revenue will double to $51.1bn.
This growth means that the internet will go from the number five to the number two medium in just five years, making it bigger than newspapers, cable TV and broadcast TV and second only to direct marketing.

Robert also apparantly agrees with us that the online Video marketing boom will be one of the biggest factors in the general increase of online marketing.

Category: Local Online Advertising

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