Tuesday, March 4, 2008

Our country is in recession, but the World Wide Web is still booming

As reported in this article written in Wired's blog site by Betsy Schiffman, it turns out that while the rest of America's economy is nearly in recession (see this article that Wired references for further information on our economy's demise), online marketing companies report absolutely no effect on the sales of online advertising space. In fact, according to Jon Kelley, president of online advertising and marketing firm Sure Hits, "The trend of online advertising growth is stronger than economic recessionary trends." Nice, this is what I like to hear. According to CEO of Sharpe Partners Kathy Sharpe, the industry has been growing at 25% for the last five or six years.

Wired spoke to numerous online marketers at last weeks Search Marketing Expo, and they were hard-pressed to find people who were in disagreement with Kelley and Sharpe. Rich Kahn, CEO of search engine and ad platform eZanga, bragged that he has even doubled his sales force as of this month due to increase in demand for online and viral advertising.

The cause of this constant increase is the fact that businesses realize, in increasing numbers, that viral and online marketing can't be beat in cost-efficiency and its effectiveness in ignition of word-of-mouth. T. David Akindele, senior sales executive at Pop Labs, embellishes by stating "The internet is one of the most effective way to reach a ready-to-buy customer, with the exception of word-of-mouth. Advertisers need to be online."

So it looks as if people are getting the hint. The internet is the medium with the most potential for development and the most amount of flexibility and creativity in marketing techniques. Can't wait to hear more about some really viral and buzz marketing campaigns coming up soon.

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