With rapid job loss, humble faces at the World Economic Forum, over 60,00 jobs lost in the US media industry, 1 in 10 newspaper personnel released, traditional media is "under siege." "Yet, history shows that companies that strengthen their brands during a recession emerge stronger." Those are the words of Michael Mendenhall, Senior Vice President and Chief Marketing Officer for Hewlett-Packard (seen in photo) in his speech to the American Association of Advertising Agencies in New Orleans, Louisiana this past March.Advertisers should take advantage of this recession and seek advertising opportunities throughout the Internet--digital media. This is a chance to grow your business, your brand, your image, and to capture the all ever-present market share. An example Mendenhall used in his speech was the 1975 recession when Ford Motor Company reduced ad spending and Chevy increased theirs, taking more market share in the auto industry. That decision took Ford five years to get over.
Digital media can also "recession-proof" your advertising budget--it costs much less in comparison. Most people know this, but even more refuse to do anything about it or even attempt to try. A digital advertising strategy can help an advertiser continue their growth and branding. But what about traditional media? Contrary to popular belief, traditional media will not disappear but adapt.
Mendenhall suggests that national advertisers transform and operate as the "Big Three" syndicated television networks of the last century: CBS, NBC and ABC. By acting as the networks have, they are in control of the digital media growth and a national advertiser would then make a website, social network, or network of websites their "affiliate" to broadcast their advertising content.
More advertisers are now seeking a "return on information." Within a few months from today there will be more information online than books being published--creating much work to sort through it all. Ad agencies must work fast to sort out which websites and networks are strongest and which can help to reach an advertiser's desired audience.


