Why Economic Crisis is good for internet marketing?

[madjack]

It can be both a blessing and a curse. For instance I have a partnership with a large media company which owns a lot of large TV, magazines, and websites. They provide me with major advertisers on a high CPM ($5-$8) and now they are having problems with their fill rates which hurts my website as the alternatives to put up on our website don't pay nearly as much ($1-$3 EPM).

But also my company owns a jobs website where it is targeted to a specific region in the United States. We have seen the searches for our keywords jump by about 650% because of all of the people looking for jobs. This is a bad thing for most but it has helped somewhat our website. I think overall it will hurt online business somewhat because some advertisers may not have as many choices which means the CPC will go down because there is not as many people to compete with.

[ankur4rocks]

I noticed networkers are now more reluctant to spend money joining programs since the financial crisis.

[funkyman]

Sales have gone down some for me but my traffic is still converting decently well. So, I haven't noticed a huge impact myself. I still expect to make more money this year than I did last year.

[streetsmart]

There are companies all over the world that, as a first measure on crisis, cut the marketing budget. I know that is absurd but I see this stupidity all over the world. My problem is that, even if you want to cut the advertising budget -which I agree-, marketing can be the savior not the expense they can cut first.
The companies should rely on new and bright marketing plans to overcome this crisis and yet they seem not to understand the meaning of marketing.

[talisman]

I'd rather say I've intensified my promotion activity via 2.0 channels. I've printed an offer related to one of my fields of activity and I've added some more meetings with potential customers . So maybe the right answer would be that I've increased my "marketing budget" following the crisis.

What I can say is that people are quite open to discuss new ideas right now and every solid professional that I've met is slightly euphoric when talking about the crisis

[tonyklaus]

So far the financial crisis has not affected in any way our marketing budget, however I think this is the right time to push forward with bolder strategies as well as innovation, and gain a competitive advantage- all of this fueled by a strong marketing presence

[phantom]

Marketing sometimes does get cut, and it's not because we're all stupid. It is a fact that marketing is a discretionary spend, more so than payroll and rent.

That said, we are fortunate.Our firm has not yet had to significantly reduce our marketing or advertising, but they are tightening up on how many people attend trade shows, and some of the print advertising may have to be delayed.

[Gibraltar]

The first casualty is the marketing budget, which then becomes a self fulfilling prophesy.

Less marketing = less new and retained customers = less revenue = more budget cuts! (an on and on)

[keane]

So far, the financial crisis has not exactly cut marketing budgets, it has simply become a great excuse to do so. As any other provider in the field of marketing can testify, budgets are always shrinking and hardly suitable to meet the client's goals. This financial scenario provides the perfect reason to haggle and cut. It simply has made our job a lot harder, preventing us from giving our clients all the help they can get to overcome the consumers' fears and consumption adversity.

Working in webmarketing, though, I can state that, as of now, there have not been dramatic changes, if not the need to focus more on higher efficiency (in PPC for sure) for the same investment.

[jackal86]

What crisis !? Where!?

Marketing budget will be increased, naturally.

[hannah holt]

Hey nice posts guys.. I never knew that the marketing budgets had been hit... But i think i will agree with phantom...marketing is bound to get affected..because of recession ,people are buying less, so it isnt that easy for all the firms....I guess people will resort to internet marketing because its quite attractive and involves lesser costs as well..

[crazycool]

I am doing online poker and casino affiliate marketing.

I find the financial crisis have deep affect in my online marketing affiliate income.

and what about your conditions? Is there have any affect in your income?

[talisman]

I think that people rather buy some product than gamble the money away. They are more careful but I don't think that all affiliate products are affected by this