In a slow market, the internet will be important
This is just my opinion, but as the market dries up for a lot of things in these tough financial times, I think that social media will increase.
Chances are, for most people, the internet is a thing they could no longer live without. Whether it’s the community they’ve built on Facebook or Twitter, or the blogs they love to read, the internet has become a really large part of people’s lives.
As we explore new ways to communicate using social media, and clients increasing look at this option, I can see a sort of paradoxical moment coming.
First of all, when there are down times in the market, marketing using turns to Direct Marketing. It’s the place whereby the client can show a return on investment of every dollar spent. Ie, we spent $X, sold $Y product. Even if $Y isn’t close to $X, at least the client knows exactly where the money went.
More so than with a TV spot, for example.
Enter social media. There’s a push for it for marketers. If you work in an agency, then you know that it’s being talked about at every step of the process. And i think that participation in social communities will increase as anxiety about the world increases. We’re social people, and we like to be in groups.
Meaning, there’s growth in a spot that’s both interesting to marketers, and relatively in-expensive to marketers. Except, there will be a serious tendency to ask for the order.
That’s what we do when things are tough in marketing. We ask for the order louder (or we shut up by stopping spending money).
Therein lies the interesting paradox. More marketers want into something that’s growing so they can try to sell things to people.
Gonna be fun to watch how that works.