Wednesday, 25 June 2008
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No Recession For Online Advertising, Promise
There are a lot of numbers to follow, so resist the urge to let your eyes glaze over — these are important figures to note when taking stock of your future in Internet marketing.I continually hear and read in the news that the U.S. economy is tumbling rapidly towards a recession or even more depressing is that we may already in a recession. What is a recession and why should we fear it? To quote the all-knowing Wikipedia:
“In macroeconomics, a recession is generally associated with a decline in a country’s real gross domestic product (GDP), or negative real economic growth. According to one widespread definition, a recession occurs when real growth is negative for two or more successive quarters of a year.”
Well, it would seem that based on that definition the U.S. economy is in fact in a recession; how deep it will go and how long it will last is anyone’s guess. Although there are certainly industries dramatically affected by this recession (airlines, real estate, etc.) those of us involved in the online marketing industry should consider ourselves fortunate.
To those of you who are/were part of the unfortunate few affected by downsizing spawned by recent mergers/acquisitions (Google/DoubleClick), I am sorry that your careers have been interrupted, but please continue reading as I think you will see that there is significant cause for hope and optimism if not immediately, then certainly in the not-too distant future.
Why are we fortunate?
According to eMarketer, as a percentage of overall advertising budgets, the percentage allocated to online advertising continues to grow, in fact that percentage is expected to double from 6% in 2006 to more than 12% in 2011 where of the projected $316 billion 2011 total media spend, $41 billion will be spent online. Furthermore, while growing at a rate of approximately 14% from 2007, according to TNS Media Intelligence, 2008 looks to be the year that Internet advertising spending outpaces radio in regards to advertising spending.
As a segment of online marketing in which to focus, paid search and display ads will garner the largest budgets accounting for approximately 60% of all online advertising while from 2007 to 2011, the following two marketing formats are projected to realize the greatest percentage increases: Rich Media/Video (approximately 38%) and Mobile (approximately 400%).
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