12/19/2008 04:38:52 PM 
However, I will share some thoughts on how I think the year will shape up.
When people are clueless about the future direction of their personal lives, they tend to seek safety. The pervasive search for security will dominate decisions at both a personal and corporate level, with so much at stake and so many unknowns, people won't take any risks.
The likely impact on the world of marketing is that we are likely to see much less innovation and a back-to-basics approach, where old, tried and tested formulas make a come back. The effect on consumer spending is clear, it will be harder than ever to get people to open their wallets.
In a way, 2008 has been a year where the sacred cows of capitalism have been proven wrong and massive corporations and entire industries brought to their knees. There are no fundamental givens and the businesses that survived fueled only by wafer thin margins and cheap credit, have already gone or will shortly go away.
It's unclear what will rise out of the ashes and how innovation and technology might thrive and come to the fore. However, it's clear basic fundamentals will matter more than ever; great ideas that make money from day one will be valued over all else.
It's possible that many industries will be cut to swathes and the result could be a greater concentration of monopoly power. In essential areas, like airlines and banking, it's highly likely we will see price hikes.
For the challenger brands, the road will be tough, without access to cheap money the new ventures will be leaner and meaner than ever before and have to be armed with really differentiated ideas at their heart. While we are at the end of the 2.0 revolution, it's amazing to see just how many derivative ideas there are out that don't stand a chance of gaining market traction. We will see fewer of these in 09.
It's likely the dominant issue of survival, will push sustainability onto the back burner, if these goods and services are priced at a significant premium. Companies that find ways of offering sustainable solutions at a lower cost to the alternatives will thrive. Just being sustainable because it's the good thing to do, will not make any sense.
Our obsession with social networks and phones will continue to dominate the conversation with most people remaining clueless as how to monetize marketing on either of the formats.
Social networks will continue to expand their influence outside of their own domain, interlinking with other dominant properties, so all web experiences will be socially networkable.
The rise and rise of the iPhone, especially with a $99 device at Wal-Mart, will just continue. The platform will continue to interest developers and by mid-09 we should see applications like video and television being available and used by millions.
Finally, we know we have yet to see the last of the bad news and we are bound to face more as we go into Q1 of 09. The critical thing will to try to remain positive, imaginative and inspiring despite the tough times.
While bad news dominates every single medium, if you look hard enough, you will see signs of hope and my guess is that's where the future lies.
Posted by Ed Cotton
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