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Why a Recession Encourages Innovation


We have seen much written in recent weeks about the doldrums of the recession.

And while, strictly speaking, the country is clearly in a recession...we are not.

By we, I'm referring to two things:

1. The online advertising industry.

While other industries have been hard hit (we're looking at you, auto industry) the online advertising industry has continued to grow (though, admittedly, slower than previously expected). However, in the face of what some are calling an 'economic crisis' to see our industry grow tells us something. Specifically, it tells us that the online advertising industry has a lot to offer in any time, but particularly in a recession.

Why you (hopefully) are asking? One word: measurement. Online advertising offers an easy answer to if your advertising is working or not via measurement tools. At G5, we, of course, take it further and can measure across virtually all of your advertising sources. But that's another story.

And then, there was 2.

2. G5.

We're doing quite well as a company. In fact, we're continuing to grow. And quickly. Not only in numbers of employees (though that is most certainly true) but also in regards to client base, which is also growing quite nicely.

In essence, it's good times for G5.

But on to why, exactly a recession encourages innovation...well, simply put, because there is no other choice.

Cory Treffiletti, a columnist at MediaPost, put together a great piece on this just yesterday. Amongst his thoughts on the subject:

"Challenges are also opportunities; in order to succeed, you have to have the right attitude. A down economy means that people are looking for new, innovative ways to achieve the success they had when things were easier and simpler. It's easy to build a brand when you have lots of money to spend, but how do you build a brand when the money dries up? It's easy to spread a message when you can afford to pay a small army to evangelize on your behalf or when you can buy ad placements and achieve a 75% share of voice, but fewer dollars translates to more creativity and more innovative ideas; that's the opportunity we have again today."

Couldn't have said it better ourselves. Now, lets get to work.