It looks like there may be some good news for those growing their digital chops. eMarketer recently published a study of 175 CMOs and marketing executives that says, in short, ad spending is poised to fall over the next year, but Internet marketing spending is predicted to have double-digit growth. The study does not specify where the digital spending will be allocated (online advertising, partnerships, social media, etc.), but this is yet another case for why you should expand your digital skills and learn to create fully integrated communications strategies to improve your chances of being employable in the future. Jobs opportunities will shift.
Here are a few more graphs to think about.
Jeff Wilson
I’m a student about to graduate with a degree in advertising. I have had good internships and been active in advertising associations, with this economic downturn it is discouraging to see the industry slow down especially with all of the new media outlets. Do you think that this consumer freeze will correct itself in the upcoming months?
Allie Osmar
Jeff – it’s hard to predict exactly what will happen, but there’s a great podcast episode on Inside PR discussing the effect the economic downturn is having or may have on PR and marketers. As many are saying, the well-diversified agencies will be better able to adjust.
Good luck, and let me know if there’s anything I can do to help.