Internet Marketing: How to Cope with the Recession of 2009

by Arthur Cooper

Some say we are in a recession.  Others say we haven’t had any negative growth yet through the 2nd quarter of 2008 and you need 2 consecutive quarters of negative GDP for a textbook recession.  The financial and credit markets are predictors of the future and they are telling us that, any way you want to measure it, 2009 will be a year of recession, possibly a big one.

Does this mean to go and hideout in a bunker until the weather clears?  If you do, this will be a mistake which you will regret for a very long time.  Tough times call for action, not passivity.  It calls for greater precision and targeting for the most efficient and ROI-driven strategies to maintain and improve your sales and profits.  Yes, I said improve … even in a recession.

The following from Emarketer was just released showing the estimates of online advertising spending growth:

The doom and gloom crowd don’t believe these numbers and therefore won’t share them with you as we are here.  However, according to a June McKinsey & Co. survey of 340 senior marketing executives worldwide, 91% are using online advertising, and over one-half indicate that their companies plan to maintain or exceed current levels where possible. Even more telling, 55% of marketers said they’re cutting expenditures on traditional media, precisely in order to increase funding for online efforts.

Why is this?  Why do marketing experts believe that shifting precious marketing dollars online and taking away from the traditional media is the way to go?  It all comes down to results.

Here are the key reasons for the phenomenon:

1.    The buyer is finding your website as a result of their personal initiative; all at a time and place of their choosing.  Traditional media reach less than .05% of their target market at enormous cost; this is the quintessential example of inefficiency and waste and cannot be tolerated by all those on a tight marketing budget.
2.    The web is, more than anything else, an instrument of measurement.  Therefore it is vastly more measurable and accountable than traditional methods.
3.    The web is clearly more targeted and provides us much granularity as the buyer or the seller desires.  The information is all there and always available.
4.    The web is just simply gaining viewer time.  Traditional media commercials are ignored or “fast-forwarded” using new technology.  When online, viewers are in buyer mode when searching for a product or service; they have the confidence that the web / Google et al will lead them to the right information and the right purchase.
5.    Traditional media provide you only the information they want you to know in the time or space they are allowed.  The web provides no barrier; buyers can check out products, prices, terms and conditions.  They can use the social media and other supportive tools to gain the confidence and peace of mind they need before making a buying decision.

So here is what you need to do to overcome the challenge of recession:

1.    Improve your Internet Marketing Strategy.  This includes many factors:

a.    Hire an Internet Marketing Company
b.    Generate a game plan to generate targeted traffic through SEO (Search Engine Optimization), Sponsored Search or PPC (Pay per Click).
c.    Make a major commitment to content with the company you select.  Content is life-blood of quality SEO results.
d.    Improve your website to optimize conversions as well.  The right SEO Company will actually include this service as an integral part of Search Engine Marketing and Website Design.

2.    Start e-publishing a monthly newsletter for your existing clientele.  Keep your name in front of your customers and new prospects that sign up through the sign-up on your website.
3.    Consider Affiliate Marketing – depending on your business, you can take advantage of thousands of online sales agents that only earn a commission after the sale is made or the lead is generated … a true meritocracy.

Do all of these things and more and you will be found by precisely those people who are seeking your products and services.