Global economic issues are hitting the amount of money put into advertising but the internet is continuing to grow as a medium, according to a new report.
Aegis Media has revised its global advertising expenditure forecast for 2008 by just over a percentage point. It now expects global promotional spending to grow by 4.8 per cent this year, rather than the previously anticipated 4.9 per cent.
Point one of a percent might not sound like a lot of money but when you think of it in terms of global capital put into advertising it’s actually quite a lot of money. We’re talking a major decline in advertising on a global scale.
The interesting thing about this story, though, is not how media outlets are likely to be hit by the fall in advertising revenue: it’s Aegis Media’s assertion that internet-based promotions are effecting spending.
Jerry Buhlmann, Aegis Media’s CEO, says: “With search now central to the planning and execution of any campaign, online media brings a greater level of accountability not just to itself but to TV, print and other forms of advertising.â€
That’s the bottom line: search is central. Weblogs and CMS have made it easier for businesses and publishers to get online and start telling their story. But it’s getting harder and harder to be heard in a rapidly competitive market. There’s no excuse now not to have an SEO strategy in place, no matter how big a company you’re running.
Without it, you run the risk of the conversations that are forming and taking place passing you by.
About Jon
