The global financial crisis and drastically lower consumer spending, as indicated by Friday’s Commerce Department report of a 2.8% drop in October retail sales, has forced marketers to slash budgets and seek better performing alternatives.
The consumer spending recession is quickly “trickling-down” to cause a traditional media depression. Research from Jack Myers Media Business Reports indicates up to double-digit declines for newspapers, magazines, broadcast radio and television in 2008. And there appears to be no good news in sight, as sales are projected to decline further in each of these media sectors in 2009.
The future of marketing is results driven advertising. Pay-For-Performance models stand to dominate in down market trends.
Tags: advertising, recession, Social Media, web 2.0