The verdict is still out on whether or not we are in a recession, but according to Google’s Chief Economist, Hal Varian, “A recession will prompt consumers to use search even more frequently to find deals”. He went on to say that “advertisers are willing to take all the clicks we can give them” at current prices. Not very surprising given the fact that Google’s bottom line did very well in the last quarter despite numerous less than favorable expectations for the company.
What this means for online advertisers – it’s still a bit early to tell. But, it’s obviously a good time to market your business online. One of two things will happen:
- You will pick up market share from your competitors leaving the market.
- Your business will keep its place in the market beside your competition and you won’t find yourself lagging behind once this ‘recession’ is over.
Businesses large and small are likely to feel the effects of this likely recession. As your marketing plan adjusts to the changing economic climate, be sure to keep your team updated at Leverage Marketing.