In a post a few months ago I wrote about how the tech market presented many of the same characteristics of the prior tech bubble. Those of us who lived through it, or to put it more aptly, survived it, have always prayed that we'd never see another one like it. Today the economy is once again showing cracks. But this time the bubble is in housing. That condition, coupled with soaring energy prices is starting to affect other segments of the economy. The extent to which this will spill over into technology and other market segments is yet to be determined. But we are seeing some warning signs. Goldman Sachs just issued a report in which they scaled back their prior predictions for IT spending. The silver lining in the report is that although there is softness in the US, demand is still expected to be strong in other parts of the world.
When times get tough, belts get tightened and budgets get cuts. Inevitably PR is always part of that conversation. But it's been proven time and time again that PR is the best investment a marketer can make in terms of value for the dollar. Let's all hope we can avoid a repeat experience from earlier this decade. But if it comes to it, keep your investment in PR as steady as possible. It will ensure your visibility through the tough times and position you for growth when the economy turns around.
