For the most part, the economic downturn has had an effect that can be felt deeply all over the world by pretty much everybody. Many large companies have seen their profits and shares fall significantly and are in a lot of trouble, or are already bankrupt. This naturally means those huge advertising budgets they once had no longer exist. So in turn, many online publishers have alot of unsold inventory left over and have seen their profits also fall.
So how can this help the small and medium sized businesses who want to advertise online?
For one, this means you can deffinitaly get cheaper prices than you did before to advertise online. Cheaper prices can obviously help you either get more exposure for the same amount of money, or help you hit a positve ROI. Also to be more specific, you can get cheaper prices on LARGE sites you simply couldn’t afford to advertise on before. These massive publishers who used to charge $10.00 CPM have seen their largest advertisers pull out (GM, FORD, CITIBANK, etc) so they have alot of remnant inventory now. That $10.00 CPM is now over half the amount it was and you can capitilize on it.
Secondly, you need to understand that in these trying times people want more value for their buck. You need to offer people some good bargains. When people visit your site, they need to feel that is was worth their time. Whether its simply offering better prices for products or just an informative site that can help them get through the recession, it will work. Maybe a free site that just entertains them and gets their minds of their current problems could also work.
As an online company just remember to be unique. Offer something of real substance and quality and things will work out in the end.
If you’re interested in advertising on some premium websites at highly competitive rates, or need consulting on how to market your business online effectively, please contact us and we’ll be happy to help.