SMX Advanced: Search Marketing & Surviving A Recession
This session was mostly a quick Q&A:
Q: Are we in a recession?
A: Dollar is weaker against several major currencies so that would affect the environment while search may be the least expensive form of mass marketing. Stagflation might be skirted but we could still see inflation…but it’s all relative to the industry you’re in. Search is in a mini-boom. Recession is 2 consecutive quarters of negative GDP growth - which we haven’t had but it’s been said that we’re in the worst possible non-recession. Recession is definitely industry specific.
Q: What worries you?
A: People are tightening up their marketing and proving what works and what doesn’t. Clients want provability. The nice thing about search is that it can be proven. Analytics and reporting helps marketing people get better budgets and improve their ROI. The main worry is “how can I prove it to the CFO”? Look for opportunities with search and web marketing. Client businesses can be struggling - one trade that seems to be affected by the recession-like economy is real estate.
Q: In this environment, where do you put your 1st marketing dollar?
A: If you have certain fundamental metrics that show the best ROI, put the money there. We can’t be just search experts, we need to be business experts and talk about how to acquire more customers. First dollar should be spent on understanding the customer.
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