
You'd be forgiven for thinking that the sky is falling in if you only read the main headlines in the news. It's sadly true that bad stories sell papers and so, like moths to a flame, the media are all over every company that issues a profit warning or lays off some staff - regardless whether the business is based on sound fundamentals. What is of interest to us, is that digital markets are continuing to grow apace.
The BBC reports a leap in ecommerce sales of 13% for February 2009, year on year, which in the overall context of the economy is enormously impressive. The reasons for this, I think, aren't exactly rocket science to divine. Firstly, while the internet's reputation for value might be overstated these days it is still much easier to compare prices like for like than trudging up and down the high street.
And of course, when you're feeling the pinch all those little extras like parking, a coffee or a spot of dinner (never "lunch" - we're mostly from Leeds!) look less desirable. Far better - or cheaper at least - to shop from the comfort of your sofa whilst enjoying a beer from the local off license and watching Ant 'n' Dec.
It's also the case that the market has moved on in many ways to the benefit of both etailers and online shoppers alike. Traditionally, many web businesses didn't look much beyond getting a website designed and perhaps throwing some money at pay per click or SEO. Today, digital agencies are much savvier operations. With access to analytical data, tight integration with online advertising channels, sophisticated email marketing and skills to put you in front of millions of users of social media sites, the skillset of a digital agency provides a great way to find a route to online markets.
As the economy continues its painful realignment, we think that companies are going to be taking a long, hard look at the services their web agency are offering. If it begins and ends with website design, with no support for ongoing marketing, then we think that represents poor value for an investment in online channels. Full service digital agencies will continue to speed ahead and make full use of the opportunity this presents.
So if you're looking to get online, or take your online business to the next level - look for a reputable digital agency.
http://www.3bweb.com/news/credit-crunch-social-marketing.html
Also a slightly older article on Digital Marketing in the Recession, that made it into NewMediaAgo magazine:
http://www.3bweb.com/news/digital-marketing-and-the-recession.html
Keep up the good work,
Jack Bremer
3B Digital