Joe the plumber will be old news in a few weeks but the troubled economy will still be a real issue. This week it was announced that that retail sales dropped 1.2% in September, the biggest drop in 3 years. The same day I read an article in Advertising Age titled, Even Search Not Immune to Financial Malaise which only added to my doom and gloom.
What does this bode for SEO/SEM? Will already anemic online marketing budgets be slashed…again? Will I have a job in three months? Will I be able to heat my recently purchased now undervalued house this winter? I’ve already cut out Starbucks, I’m brown bagging instead of going out to lunch, and I’m using more coupons in a month than I ever have in my entire life. (FYI - retailmenot.com is awesome!) I’m doing my best to spend responsibly and shop smartly.
Then I read a study that analyzed how the current economy influences consumer spending, how and when they spend and why. Another article revealed that shoppers will be online hunting for deals and discounts this holiday season. Shoppers are not going away they are just shopping differently…responsibly and smartly. I would not be Joe the SEO! There was hope! Applying a thrifty shopper mentality to a savvy marketing strategy is the economic relief plan online marketing needs right now.
As agencies and marketers we can help our clients spend responsibly and shop smartly. We can show them how stretch their budget to maximum efficiency, cherry pick marketing tactics that get them the biggest bang for their buck, and grow the successes they currently have. For example we can help clients save money by cutting back on ROS display ads in favor of targeted PPC ads. We can help clients spend responsibly by optimizing current PPC instead of increasing spend. Demonstrate value to clients by suggesting efficient ways to use resources they already have…up selling to their current customers instead of spending more to reach new customers.
I don’t think I have to worry about wearing an overcoat in my house to stay warm this winter. I can still get a good deal at Chick-fil-A, and I’m not planning on moving anytime soon so for now I think I’m safe from financial ruin.
Referenced articles/data
Even Search Not Immune to Financial Malaise, http://adage.com/digital/article?article_id=131663
