Ed went to speak to the New Orleans Ad Club today on advertisers engaging in Social Media.Â While annual ad budgets in 2008 only included 6.8% for Internet advertising, the online medium remains one of the fastest growing segments (says Marketing Charts).
Knowing the basics of Social Media Marketing and online interaction can help your business go far in an economy that is less than forgiving.Â This goes for both agencies and individuals in the advertising community.
Some simple tips for agencies wanting to survive the recession:
- Build and maintain relationships
- Recurring revenue
- Retrain, Recruit, Retool
- Get rid of dead weight NOW
- Charge for Creative
Some simple tips for individuals in the ad world wanting to survive the recession:
- Build your personal brand
- Participate in Social Networks
- Stay close to billable work
- Be humble (arrogant people suck)
What are YOUR tips on surviving the recession?Â What unique ways is your agency just.making.it.work. through online tools and new tactical approaches?
Here’s a great post on Ed’s blog specifically for soon-to-be-graduates on How to Get A Job During A Recession in PR and Advertising.Â Read it, comment, share.Â Great stuff.