This morning's news of Bear Stearns' firesale to JPMorgan Chase
brought on renewed fears of an economic recession. Regardless of whether we've hit a full-blown recession or not, marketing budgets tighten when the economy sputters. And what dollars are spent, need to be more on target than ever before. However, a recent Forrester Research report
announced that social media efforts will survive tightened budgets more than traditional media spending. For the savvy social media marketer, the recession is an opportunity to showcase the real value of social media instead of traditional ad spending. Social media provides a direct relationship between the brand and consumer by leveraging more affordable and measurable online tools that move the consumer from a position of being blasted by generic one-way advertising, to "motivating consideration," a process that is perfectly suited for social media applications like blogs and social networks. David Armano of Critical Mass
, posted this presentation about the 10 Ways Digital Can Help You Thrive in a Recession:
And when the economy finally emerges from this downturn, hopefully social media will have undergone the maturation it needs by eliminating the hype and fads in favor of strengthening the tools and strategies that show results.