26th Nov 2008
You can't move at the moment for negative headlines about thousands of job losses across the UK as the full bite of the credit crunch starts to take affect. Last week was the worst with job cuts being announced by the likes of BT and Virgin Media but the reality is that as far as the online marketing sector goes, it's in rude health and the opportunities are huge.
Of course the sector is going to be hit- and hit hard but the most likely impact will be consolidation of some of the multitude of medium-sized online agencies who have large overheads but shrinking client lists not to mention a significant reduction in online markeitng budgets from brands and a retiscence to experiment too much.
If there is any positives about a recession, it's that it's also a moment of opportunity. An opportunity to define new business models and an opportunity to be 100% sensitive to the crunch and clients changing needs and react to those with effective campaigns supported by keen pricing and being able to react instantly.
Consumers will still want to consume and so brands will still need to advertise; but to a much more targetedgroup and not supported by hefty marketing budgets. Of course, digital is not the complete answer but it doestick these boxes so the challenge is on to prove how digital can come out fighting in the face of the crunch!