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IT Marketing and the Economy

financial_resized.jpg Are you concerned about the current state of the US economy and how an economic downturn will affect your business? Have you wondered what will happen if businesses across the country scale back or cancel big-ticket IT purchases because they fear an impending recession? With the Federal Reserve Bank's recent rate cuts, the continual decline of the NYSE and NASDAQ, it's easy to see why so many people are concerned about entering a recession. At the same time, it's important to stay positive, hope for the best, but as always, plan for the worst.

While business remains strong in this first quarter of 2008, it is clear that more and more IT marketers are concerned about the effects of a recession on the overall industry. In reading through my weekly line-up of marketing Websites and blogs, I stumbled upon a few resources that address the economy and its impact on IT marketing and thought it might be useful to present them here.

In his February 6 white paper, Strategies For Interactive Marketing In A Recession, Forrester Research's Josh Bernoff addresses the impact of an economic downturn on interactive marketing initiatives. According to Bernoff, the inherent nature of interactive marketing makes it a relatively safe place to invest, even with a looming recession. Interactive marketing applications tend to be inexpensive to build and maintain, and traffic is driven via user interaction and word-of-mouth. These unique aspects of interactive marketing programs make them affordable to build, implement and maintain, and they provide a high return-on-investment. Read Bernoff's paper here and find out if including more social media and interactive marketing strategies in your 2008 marketing campaigns could actually be the more cost-effective way of doing business.

In this free podcast, The Economy and IT Initiatives, the Burton Group outlines what enterprises learned through strategic planning during the last economic down-turn in the scope of data center management, security initiatives, and identity management projects. If you are concerned about the economic impact of a recession on IT buying in the enterprise, listen to this informed account of how organizations respond to down-turns. This podcast is available on the Burton Group site through February 28.

BtoB Online is also offering free webinar titled How Marketers are Planning & Budgeting for 2008. Scheduled to air on February 28, this webinar will address the following:

• How marketers are measuring success in 2008;
• Where marketers are spending their online budgets; and
• What marketers think about current economic conditions, and how these are affecting their plans and budget.

The good news, according to the 2008 Marketing Priorities and Plans survey (BtoB Online), is that in 2008, B2B marketers plan to increase their overall marketing budgets.

-BH

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