Credit crunch vs. the numbers, numbers, numbers.

Credit Crunch vs, the numbers

Having just taken the physical, if not mental stress out of shopping for the business recently (the mental remained as most of the sites I used were not that easy to get around, and one had a particularly annoying way of ‘predicting’ my address – incorrectly, several times), credit crunch defying statistics for on-line growth amaze. We continue to spend with a raging thirst on-line; Internet advertising spend up an un-paralleled 38% in 2007, and marketing spend in the UK a staggering £1.7 billion during first half of 2008! (the total advertising market would have actually fallen 4.6% without factoring in on-line spend. Source: IAB).Why is the Web not suffering the obvious effects of downturn of TV, press, outdoor and radio?

Paid search continues grew by 28% year-on-year (worth £981 million in the first half of this year, market share now 58.3% of total online advertising), and a 36.6% increase in the spend with 'embedded' formats - banners, rich media, and video.
Sector-wise, Technology was highest (17.3% of market share), Finance (11.9%), Entertainment & Media (10.7%) and last – but hey, not least - our very own, Recruitment at 9.9%.

Whilst confessing to enjoying a curry over ‘Corrie Catch Up’, ‘looking at on-line services such as BBC iPlayer, and Channel 4's 4oD, 27% of 15-24 year olds say that they use the Internet for 'watching TV programmes' (17% up), 45% used it for 'watching video clips/web casts', (+18%).

Much used ‘Social Media’ (Death of the Pub imminent?), continues to have a massive impact overall on the market, especially as an ‘audience driver’, although Ad spend is still comparatively low, yet set to grow steadily as these platforms become part of every day life (like it or not), with the demographic changing - women aged between 25-34 spending more time online than men, together with more over-50s logging on (I know of a couple of Octogenarians who dabble online, bingo included!).

Don't forget to put those clocks back!

Having forgot last year - and yes, that resulted in being late for something - just a nudge to remind you that you get an hour more sleep this year!
Why do we do it though? Well, I am reliably informed that the origins of adjusting the time forward and backward was first proposed in 1907 by an English builder no less, one William Willett.
Effectively 'adding daylight' to the afternoon for the benefit of retailers, sports events, and other activities is said by some to cause problems for farmers, entertainment and other occupations tied to the sun, although reduces traffic fatality statistics.

Social network Sir?

Social browsing toolbar
Do you socially network, (as in the on-line sort and not down the pub)? We’ve just stumbled across this little add on (Me.dium (http://www.me.dium.com) Described as ‘Real Time Social Search’, essentially, it lets you browse online ‘what is hot right now’ and to influence what should be featured in said hot zone. You can also chat, share music files and videos, and see what your friends are looking at at the same time (once installed, a small toolbar appears in your browser window, the top panel of the sidebar is a map that lets you view what sites your friends are visiting, you can view your friend’s profiles and also send them a message similar to Facebook).
You can specify your visibility settings, ie: how much people can see without being approved by yourself. I read that the application is secure and that the program suspends sharing when you leave the site.
It all rings a bit ‘cool, happening and right now’; a quote from the site: ‘we tend to surface news, reviews, pictures and videos that are hot, right now, according to crowds of people just like you’.

So you want to get into advertsiing?

Consuming the weekend papers the other night, and I came across an interesting article in the Guardian about a ’aptitude testing’ for those wanting to get into creative jobs. A few Goggles later revealed that this has also been publicised several months ago, (so apologies if this is old hat to you, but I do confess it passed me until now).
The test itself is described as designed to identify 'diagonal thinkers' - those who are both logical and creative – its aim is to shed the industry's middle class image. Diagonal thinking itself is ‘the ability to switch effortlessly between linear, logical thought processes to lateral, creative ones’. Tim Lindsay - president of TBWA – is mentioned, having been completed the assessment himself.

According to the IPA, only 10% of the population can think diagonally apparently!

With the financial sector in crisis, the government sees the creative industries as key to Britain's future economic success. Currently accounting for more than 7% of GDP, the creative sector is growing at twice the rate of the wider economy and is on course to become the second largest contributor to the UK economy by 2018.

Try it – it does take while, so turn off the phone, and see if you’re suited.

http://www.guardian.co.uk/money/2008/sep/27/careers.advertising

http://www.diagonalthinking.co.uk/