There aren’t many silver linings in this economy, but there are a few companies that have figured out how to profit from popularity online. In the social media space, branding specialist Buddy Media has worked with such brands as FedEx, New Balance, Time Inc. and Microsoft. As the economy has tanked, Buddy Media has seen profits grow. In the
last quarter of 2008, the company posted revenue growth over 100% and
they are set to see similar returns this year.
This week, I wrote about how app and widget makers have rebooted their business model to monetize after the economy shifted. I also caught up with Buddy Media CEO Michael Lazerow to find out what works for brands in social media and who should get canned for their lack of effort in the space.