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The list of industries, companies and individuals that have been crushed by the recent recession has been well documented over the past year. Has anyone come out ahead other than Goldman Sachs? On Thursday, Harris Interactive released a study on how advertisers’ attitudes and spending patterns are shifting between the different online and offline media channels.
Clearly, one positive from this economic downturn will be advertisers’ reliance and belief in online advertising. Advertisers have come to broadly embrace the channel as a core part of the media mix as demonstrated by 92% of advertisers utilizing some form of Internet advertising. As someone who works closely with advertisers, the shift has been more in attitudes and commitment to making the various online marketing channels work. They are not just spending, they are keenly focused on the strategies behind getting the greatest return on their online marketing budgets. Which in turn has focused them on the metrics and recognizing that online is probably their most cost effective channel whether they are driving leads or sales. This in time has led less to expansion of overall makreting budgets, but more to shifting of dollars from offline to online channels.