Online Ad Estimates Sinking

Here’s a word to the wise, folks: save your pennies, and if you happen to come across any penny halves, glue the silly things back together.  Internet marketing budgets and forecasts are getting cut all over the place.

Yes, unfortunately, it looks like there’s going to be a lot less money floating around in this sector.  Marketers should probably slow down their spending and see about squeezing their bosses and clients for more money before the message spreads any more.  Or, as we wrote about last week, look into cheaper forms of advertising like social media.

Anyway, Peter Kafka rounded up accounts of what damage has been predicted so far.  “August 27: Carat drops overall ad forecast, but raises online advertising outlook to 23.7% growth in 2008.  August 13: eMarketer plans to drop ‘a few percentage points’ off its March estimate of 22.7% growth.  July 7: BMO Capital Markets cuts its 2008 U.S. forecast to 1.8% from 3.6%.”

And to go back even further, “June 30: Zenith Optimedia cuts its U.S. ad forecast for the second time in three months.  May 30: Lehman drops 2008 U.S. online ad forecast from 24% growth to 23%.  March 19: eMarketer cuts its 2008 online ad forecast 6%.  September 14: Oppenheimer cuts 2008 U.S. online ad estimate 26% growth to 25%.”

Considering how the Dow has been plummeting lately, don’t count on this marketing trend reversing anytime soon.

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