eMarketer reported this week that online video sites are racking up incredible numbers of viewers. Google sites led the group with more than 100 million unique online viewers in December, 2008. The report also showed that online video ad spending is increasing and is expected to continue to do so.
The problem though is that marketers are having a hard time linking revenues to these increased traffic levels. This problem is augmented by worsening economic conditions that will put marketing executives under increased pressure to justify their budgets. This is just one example where the recession has the potential to stagnate technological and creative advances in marketing initiatives. Instead of trying new and creative tactics, like online videos, marketers may be forced to focus on older tactics that they know are effective and can be linked with certainty to increased revenues. Maybe this is the fiscally responsibly thing to do as budgets tighten, but I believe that now is the time that we need creativity more than ever.
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