As I noted in this post a couple of months ago, this economy is really going to suck some wind from the sales. (Yes, I know a bad pun when I write it!) Today, I felt the first effects of it: MajorCorporateClientX just missed its quarterly earnings "by a mile" and suddenly that no-bid proposal that was a sure thing is simply gone. Another project for that client has shifted from Q2 to Q3. Buckle up.
As budgets shrink, I expect we'll see a drop in attendance at B2B events in the coming year. We'll see internal events scale down. We'll see less ostentatious consumer events. One the other end of the spectrum, I think we'll see continued growth in social media marketing -- sponsored facebook applications, blogging, influencer networks, and the YouTubing of the corporate world. There's no cheaper way to gather a crowd and engage them in conversation, and the fact that it is a conversation, with consumers self-selecting to interact with your brand, makes it not just cheap but also valuable.
We're launching a facebook application for one of our clients this week. I'll be posting more about it after launch.