Comments on: How will a recession affect social media?

By: Online Marketing

Online Marketing — Thu, 17 Nov 2011 05:29:57 +0000

Social Media always proves to be handy whether its recession or a boom time…

By: James Duthie: Search Blogger of the Day | SEO Scoop

James Duthie: Search Blogger of the Day | SEO Scoop — Wed, 17 Dec 2008 13:54:09 +0000

[...] James Duthie, the Search Blogger of the Day. Today I’d like to highlight a post titled How will a recession affect social media?. I’ve written a few of these recession-based posts lately myself, and while it may seem like [...]

By: James Duthie

James Duthie — Thu, 23 Oct 2008 02:57:53 +0000

Thanks for dropping by again Laurent. It’s too bad you couldn’t pick up that easy $125. I suspect as marketing budgets really begin to tighten over the next 6 months, more and more savvy marketers will wise up to the potential of social media as a source of unbiased customer opinions & insight.

By: laurent

laurent — Fri, 17 Oct 2008 00:27:26 +0000

I agree wholeheartedly with the opportunity: ‘Cutting back on market research budgets by using social media to gather free (and unbiased) customer insights & intelligence’ –
Lately, I was contacted to participate to a survey by the provider of a product I use regularly. They were offering 125$ in exchange of my responses. I said yes and a day after received a ‘sorry, we’ve gotten enough responses, thanks for….’; I was unhappy. First and foremost, they made me feel valuable by contacting me for my opinions. Also, I was hoping to earn a bit of money. I ended up frustrated and pissed at them. Also I imagine they spent x*125$…which can be a fairly big number if x is big.
I monitor ~800s blogs in my field and doing it, I fully realize the potential there’s for doing ‘free’ market research by using social media. This company could have found x00s blogs in their market (accounting) and save x125$.

By: James Duthie

James Duthie — Thu, 16 Oct 2008 10:20:34 +0000

@ Gene – Yup. I think we’re definitely on the same page.

@ Louisa – Thanks for dropping by and your considered input – it’s always welcome. I agree that the cost of social media (aka nothing) will appeal to many. The real questions are:

1. Will there be sufficient internal resources with time to invest in SM (at the expense of proven marketing channels)?
2. Will organisations persist with social media once they realise results come in the medium/long term (not the short term)

Let’s hope so.

@ Lucio – Similar feedback as to what I gave to Louisa. It will take a brave marketing manager to persist with social media. But the innovators often end up ahead…

By: lucio

lucio — Thu, 16 Oct 2008 06:17:25 +0000

customers are already jumpy, adn i’d say thats not the best time to ignore your marketplace.

Don’t give them any reason to mistrust our doubt a brand – what better time to re affirm brands/values?

my 2 cents
Lucio

By: Louisa

Louisa — Thu, 16 Oct 2008 02:31:46 +0000

I agree with what you are saying here, usage of social media sites is likely to increase whilst budget and advertiser focus on them is like to be reduced during tough times.

One of the beauty of social media sites for advertisers through is that whilst they might not be able to afford big budget advertising and promotions at this time, social media is one online tactic that still allows them to monitor and engage at a more personal level for FREE!

In Australia I think marketers have a long way to go in leveraging social media, a toe in the water would be a great start and I hope they don’t use the economy as an excuse as to why they don’t take this step…

Louisa
http://www.onlinemarketingstuff.com.au

By: Four Social Media Questions You Must Answer During an Economic Downturn

Four Social Media Questions You Must Answer During an Economic Downturn — Wed, 15 Oct 2008 13:20:31 +0000

[...] Update: this post by James Duthie has thorough analysis, a must read. [...]

By: Gene

Gene — Wed, 15 Oct 2008 11:25:43 +0000

Answers to questions 1 & 2

1. yes> looking for more free traffic.

2. no> Advertisers have cut spending in proven media channels.