With the economy in the tank, there are a lot of people who are understandably worried about their businesses and their jobs. Companies that rely on marketing for revenue are especially concerned; historically, marketing budgets are among the first to be cut when there is a downturn. In the dotcom bust early this century, the slicing of marketing budgets directly contributed to the demise of several publications, including one that I worked for at the time.
If you don’t believe me, let’s look to someone who knows something about online advertising – Google CEO Eric Schmidt. Google just announced their earnings for the third quarter of 2008, and in the press release, Schmidt said this:
“The measurability and ROI of search-based advertising remain key assets for Google.”
Measurablility and ROI-based marketing programs are what are going to be the key assets to get Google through the hard time. I say, why not follow the leader?