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Oil, recession and digital opportunities

21st October 2008

I think we have all been worn out over the last three weeks. The banking crisis appears to have just shrouded the main issues in the economy and we are all focused on streamlining our businesses and our personal lives for the down turn ahead....

It seems to me that all along the cost of energy has been an under current that has pulled the economy down. The constant manipulation of oil prices by OPEC and the fall of the value of mining companies all over the world is probably as worrying as the banking crisis.

The next year will see a lot of young entrepreneurial business get into trouble but it will also enable those business with good products and efficient marketing and distribution to come to the surface. Those businesses with a fundamental understanding of digital marketing are the ones who will also survive best. I do not see the pace of technology change slowing as the pipeline is already loaded and these products, many software based, will be made available probably even earlier than expected.This is a great opportunity for Google, who has just announced a further increase in profits to make some big steps forward with Android and other iGoogle gadgets. Let’s hope Microsoft also moves quickly to make up ground and create a bit of competition. I predict the Google/Yahoo merger will actually take place before the New Year.

This will mean we have some much needed competition in the market. This will also be the making of social networking sites. With Linkedin now valued at $1billion becoming a major player in the senior recruitment market. News International ultimate owner of Myspace will continue to find ways to monetise that site as well.

Linkedin must be thinking of cashing soon and maybe if Microsoft fails with Yahoo they may like the look of it. Linkedin has a great model with users paying £10 a month for the privilege of being able to link up with a lot of top ranking FTSE executuves. I see Linkedin becoming the major star in 2009.

I have just finished a short guide to digital for CEOs and senior executives who are in need of a quick refresher on what the current thinking is. Called the Digital Revolution, it covers 7 steps, which neatly links soft issues to technology. First 100 copies are free, pop onto the Greenfield web site at http://www.greenfield.co.uk/ for your copy.

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