Though Internet will garner larger chunk of the advertising budgets in the coming years, the scenario remains challenging. The fact remains that some high-flying Internet business ventures such as MySpace, which is owned by News Corp., have been affected to a great extent by the global recession.
With overall advertising spend in decline, and showing no signs of early revival, the leading social networking service has recently announced a 30 percent staff cut. Many other top Web 2.0 businesses, like the Google owned, YouTube, are also trying to work out how to 'monetize' the huge traffic that they generate.
Digital marketing campaigns tend be far more labor-intensive to develop (if not to visualize) than ads placed in traditional media, experts suggest. What this means is obviously higher fees.
Innovative advertisers or at least those who can still manage to spend - have also seen some benefits in the confluence of the current cyclical economic downturn. They have tackled it with a subtle structural shift toward free advertising avenues on the Internet.
New technology will only bolster the advertising abilities of traditional media such as TV, backers say. However, none of these things are expected to exist in isolation in the future. Advertising executives have indeed been referring to ‘integration’ of their campaigns for last few years, albeit with mixed results. Now the challenging economic conditions are forcing them to do so.
The Publicis Worldwide’s chief operating officer, Richard Pinder, said in an in interview. "We are going back to the original meaning of the term advertising. It’s spreading brand awareness and making people interested to know more about it."
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