I wrote an article about the struggling Real Estate Market and how it was time to turn to online marketing for the answer a few months ago. At the time, the real estate market could have been replaced with almost any industry and the sentiment held true.
Now the big question is could a recession in 2008 cause a drop in online spending? I would normally get on my soap box and proclaim to the world that if your business is in a slump, try marketing online, try search engine optimization, test the waters with PPC advertising or even a Blog. While I still want to be bullish on my industry, the fact of the matter is that a real recession could also affect marketing budgets. The reins may be pulled in and business in general may down size and down scale through the hard times.
Could online marketing help prevent a full blown recession? That is a complicated question that Alan Greenspan would probably love to debate. We can not control the cost of gasoline... but what if we could improve our (USA) products? What if companies could get more lean, efficient and profitable? Those are changes that could start strengthing the US dollar worldwide. Internet marketing is certainly a channel for companies to maximize their ad spends.
I welcome 2008. This could be another amazing year for the SEO / SEM industry. Even if there is a pull back, good marketers will still be in high demand. 2008 will be a year to partner with our clients and make sure that their online marketing campaigns maximize every dollar they spend.
Happy New Year!