We’re only a few weeks short from the annual predictions that will pop up in the blogosphere. Which will be the key trends for 2009 in technology, advertising, … etc. One prediction that will stand out in many of these overviews relates to online advertising trends for 2009, at least that’s what I believe. It’s not so hard to foresee this happening though as much discussion around the topic is already going on right now.
Gotta love this Careerbuilder ad they used on Silicon Alley Insider btw ;) In another post on Alley Insider they foresee a 10% decline in online advertising next year and slightly more in 2010, comparing today’s situation to the dotcom crash when the market fell up to 25% (see graphs below).
This year is not over yet though and predictions for 2008 are that yet with the slowing economy, the online advertising market is expected to grow 23%. So even if you believe that advertising will take a hit in 2009 (which I think most agree it will), it’ll be interesting to see if it’s just going to slow down growth (like only 14,5% as eMarketer predicts) or whether it will indeed declines as the Alley Insider and others predict. Also interesting to see is which parts of the advertising industry will be most affected by the slowing economy. Television advertising only grew by 8% in 2008 and a lot of people think that mainly traditional advertising will get a hit (where the biggest budgets are still today) and that some of that money will be diverted to online ad spend.
I believe that is what’s going to happen anyway. Online advertising will still grow in 2009, although it will slow down versus the 2008 or 2007, and the slower economy and lowered budgets will force people to rethink their plans in which digital might finally be looked at as good alternatives. There’s something about bad times that make people more open to embraces changes, so online advertising might suffer less than traditional advertising. Last but not least it’s also worth noting that the online advertising industry is much more mature than it was in 2001-2002. Curious to see what predictions will be once they start coming in December.
Bonus – 10 Ways Digital can help you thrive in a recession (David Armano)