Marketing is going to drop dramatically because of the downturn in consumer demand and the diminishing resources that we as consumers have. The global advertising stats shown in the report below reflect varying levels of drops, and often these drops are conflicting. So, it still remains too be seen what exactly the global drop will be.
Here are some stats from eMarketer. Search spending in the US is expected to drop from $27.95B to between $23.81 and $25.52B. So, big drops.
Magna Global, via Wall Street Journal, is expecting 2.8% annual drop in ad spending, exacerbated by the pushed Olympics, lower political spending, and certainly slashed ad budgets by advertisers. The new US ad spending is expected to be $218B.
According to Variety, Facebook and Google are expected to see $44B worldwide overall loss in revenue. More specifically, Google expects $127.5, down $28B, which represents an 18% decrease. Facebook is expected to lose $15.7B, down 19% for the year. The new Facebook ad revenue is expected to be $67.8B.
Global advertising spending is expected to drop from $712B to $691.7B according to eMarketer and AdExchanger. According to the article this decline in ad spending is actually an optimistic forecast, and it could certainly drop more.
The way businesses can buoy against all of this downside is actually to take advantage of marketing with lower overall ad costs and dark competitors.
Recession Marketing Guide
For more ideas on marketing in the time of recession we look at our free, or full, Recession Marketing Guide. This report includes
- 9,500 word guide
- 90+ pages of slides
- 3 hour audio and video webinar
- over 90 different sources and links
This document is relevant for business owners trying to thrive in a down economy, and for marketing agencies who need to understand how they should be advising their clients to market during this rough patch.