The recession is helping online marketing?
The marketing world has changed drastically in the past ten years. Today I was thinking about how this has impacted my life. I’m almost 30 and back in the 90’s, I routinely read the morning paper and used the yellow pages for business references what seemed like years ago. Pretty normal things to do. Most people got the news from the morning paper and when you needed a local plumber, you went to the yellow pages. Fast forward to 2009 and life is different. About a month ago the local phone book was sent to my house, I picked it up and put it right in the recycle bin. I also realized that I can’t remember the last time I subscribed to a newspaper. I Google everything from my news to services that I need, like a plumber or even house shopping. Even using the word “Google” as a verb. That’s new.
I had a discussion with one of the Lucid partners about 2 months ago and we both came to the same conclusion…the recession is forcing businesses to take a hard look at their marketing dollars. Many are realizing that they are not getting the return on investment from Radio, Print and TV. Internet marketing is often much more efficient, and is the preferred method of finding a business by most consumers and businesses.
Having worked in print advertising in the past, I can tell you from personal experience that the newspaper industry has been a slowly dying industry for the past decade as they have searched for ways to prove their worth in a time when most people aren’t really interested in the products they provide. They have tried making up for their print ad rates by selling online ads but it seems as if they are suffering in this arena as well. The more businesses decide to online market them selves, control their own message and not get over charged and under delivered for a newspaper print ad the more this trend will continue.
Here is a quick link to an article with the current Q1 Online News Ad Revenues: http://www.clickz.com/3633951
Are you still wasting money in the Yellow Pages, Print, TV or Billboard advertising? You may want to take a serious look at how much return you are getting with these avenues and how much wasted money is spent on overhead like printing the paper or producing your TV commercial. Online marketing is an effective way to stay ahead of your competitors and make sure your business is running as smoothly as possible.
Let me know your thoughts!