Ad Spending Drops
Advertising spending dropped for the first time in four years, according to Ad Age. What does this mean? Are we heading for another recession?
I don’t think so, but Alan Greenspan I am not. It does mean that companies are looking to other sources for marketing dollars. Increased Internet spending, more eMarketing, more word of mouth efforts, special events and increased public relations efforts are increasingly the diet of marketing budgets.
Note the article shows an 18 percent increase in spending for online advertising. 9.1 percent of the losses came from newspapers, 2.8 percent from TV. The reality is that print continues to lose steam.
In some markets, particularly B2G, the loss of marketshare for print readers is a lot slower, but the reality is that print publications are losing readers and getting smaller. People are increasingly getting their information online and alternative media, and this trend just reflects that.
Web 2.0 media properties are hot, folks, and the fact that you are reading this blog is just a testament to it. I think the advertising market is continuing to change dramatically. That’s why my new advertising project with a Web 2.0 project excites me so much. It’s the way of the future.