In this CNBC interview, Maria Bartiromo interviews Google CEO Eric Schmidt about many things, including the economy. In the interview, he touches on an interesting point about how small businesses should be allocating their marketing dollars.
Schmidt: “… if you were running a business today, you would be looking very carefully at where is your marketing spend going? And we think that you’ll choose to put your marketing spend on the thing that’s most measurable, the thing that’s most, you know–because you can always defer a branding campaign that may or may not work, but you want to get those customers and those leads right now, and that’s what we do.”
This is why some analysts have been speculating that Google will weather a recession - if we are actually in a recession is still up for debate - better than most other companies. Because they provide a way for businesses to advertise and measure their results very accurately. He is talking about Google AdWords and the various tools they provide like Google Analytics, Google Website Optimizer, and others.
Small businesses that invest in an effective web presence, including organic search engine optimization and Google AdWords campaigns, can help to buffer themselves against any downturn. In my experience, businesses can attract new customers much more effectively using these methods than spending all of their marketing dollars on print Yellow Pages Ads or advertising in Magazines and periodicals.
Here is a link to the video interview and transcript.
Watch the interview, and download my special report to find out how you can get started on this for your business!
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