I don't really have specific news to share with you, just some observations about the changes in blogosphere in recent times, which I personally think is associated with the global recession.
There have been many things happening in the blogosphere in November and December, I predict there will be even more news in the coming days.
Some companies have closed down, some have tried to monetize desperately, others are trying to sell off their stakes. Various promotions are also being made in the name of festive seasons and New Year Celebrations but in fact the only purpose is to get consumers to spend more so that those companies have a healthier finance as they usher in 2009.
To convince you that I don't simply say these things, I shall mention a few events just to get the question over with. BlogRush has shut down at the end of October, Matched.co.uk had closed since 20th November, there is also rumour that many advertisers are considering switching to CPM from CPC advertising model. I also know of a company that tries to monetize in a way that is like "conjuring money from thin air" and individuals who prefer receiving money upfront now rather than holding on to their web assets in anticipation for a slow business in 2009, but I shall not disclose the names here. Sure you can argue that these events are isolated cases and are not related to each other but I am not buying that argument.
Even before the recession, it was becoming increasingly hard to make money online. While paid reviews were worth $20 or more in the past, advertisers are only willing to pay up to less than half of the amount per review due to rapidly increasing number of blogs in the internet. Experienced internet marketers also have to face new competition in the form of teenagers who are tech-savvy, have more time and are more radical. Then there are also group of working adults who have opted to work from home and jumped in the making money online bandwagon. Needless to say the web is saturated with people who are looking to make money online and a slow year is expected in 2009.
What are my advice for you to prepare for the recession?
- Sell any web assets you think that can still make you money and keep the money real tight.
- During recession, it is a good time to save money and to invest too. However, avoid investing huge amount of money, when the business is slow, try to build up a business from scratch, invest efforts and time, you shall reap great rewards once the bad air is over.
- Income sources from conventional advertising will be drying up. Look for alternatives or spearhead a new buzz campaign and methods to earn more money.
- Do not lose hope and abandon your projects and visions. They will be pretty hard to pick up again, instead try to endure the hard times ahead, hoping to see good times again.
Meanwhile, please comment below on your observations regarding the effects of recession on blogosphere and what can be done to combat those effects and improve our incomes. Thank you!
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