Ka’ching! online ads defy slowing global economy
According to a report by Leo Cendrowicz on THR.com, online advertising is expected to grow by 23% this year to $43.3 billion. This is in direct contradiction to the slowing glocal economy as a result of the current financial crisis in the US, Europe and parts of Asia. Ultimately, this forecast is a good omen since companies are taking a long hard look at all their costs and finding, once again, that the best bang for marketing buck is the Internet. On the other hand, it’s expected that spending on traditional marketing channels such as television, radio and print is expected to drop significantly. Although Kenya and other emerging markets are only starting to take advantage of online advertising, these trends clearly indicate where the future lies – I am waiting with bated breath for the phone lines to start ringing, and the emails to start pouring in!