Social Media and Recession Fears

Much has been said and written lately about the “cloud of recession” that’s on the horizon, and the effect that it will have on the economy. The overall concensus seems to that its not a question of if, it’s a question of how bad.

In the advertising and marketing world, that leads to the inevitable question of how much will be cut from marketing budgets, and what effect that will have on business.

But unlike previous recession periods, signs suggest that advertisers have other options. According to a recent Adweek article, “The looming economic downturn will inevitably lead to a decrease in ad spending, but marketers are likely to continue shifting money into social media, according to a new study.”

The articles goes on to reference a Forrester Research report that suggests marketers will expand into areas such as word of mouth, blogging and social networking in order to maintain an effective marketing presence even though budgets will likely be cut as the year progresses.

This is just one example of new media can be used to support and grow your business, even in uncertain economic times.