There is clearly a economic burden from the sub-prime lending melt-down. Many companies have cut back their spending online. This is due to the belief that their online markets will dry up. That statement can’t be further from the truth. Internet marketing reaches more people for less dollars than any other form of marketing. The thought that people won’t spend money online anymore fetched. The internet poses the best chance of any marketing media to grow during the Eco-crisis.
Penny pinching will be the name of the game and prepare to haggle. Many companies will find that cutting prices and lowering the bottom-line will help them survive. Turning a blind eye to marketing will create no business. So, convincing advertisers to maintain there current spending but, stay involved in the market analysis and conversion, will be a challenge.
Internet marketing has 2 major ROI’s. The first is obvious, sales, the second takes some explaining. Information is the #1 ROI you can take from your online efforts. There is no better way to peer into the minds of your consumers than where and what they search to find your business. Knowing what your competitors are doing and how you and your business is postured to learn from their (your competition) mistakes. Market analysis lets you know if you have a chance to generte income online or if you should reconsider your business model.
There are going to be alot of hype floating around about what to do in the economic state we are in, but in the end we will return to our monetary utopia and continue to spend money on goods and services. We have survived much worse with much less, it is the American way to adapt and overcome. Will your business be able to overcome or will it be overcome?