Yesterday's Financial Times reported that "Google's share price soared yesterday, rallying 25 per cent from its low point of the day, as the Internet search company's latest quarterly earnings proved resistant to the wider downturn in advertising markets".
Eric Schmidt, Google CEO, was also quoted as saying "As marketing budgets are being squeezed, targeted ads [and I'd add pay per click business models] are becoming more valuable to advertisers"
Digital advertising growth might slow from its lightning pace, but its still growing. I've also started to see some more evidence of channel shift from traditional media into digital. This could be a double-edged gift for some digital marketers and their agencies if they don't invest in metrics, analytics, and optimisation. The boutique creative approach wins awards, but its yet to prove it can win brands new customers. A unified theory of advertising embraces both leading edge creative and rigorous analytics and optimisation - that's how you get results.
It's not a victory of the engineers over the artist, but a need for them to come together. So a Google-like focus on analytics and optimisation is now more important than ever before across all areas of the digital business.