There are many people who joined the SEO bandwagon just because they thought that the SEO industry would be stable and lucrative in the long run as compared to other industries. But the fact has been otherwise since the recession has had effect on many industries which were otherwise thought to be recession proof.
Though the SEO industry has felt some impact of the recession there are many SEO professionals who have sailed through tough times in good financial condition and are already full of optimism regarding the future.
Hence it can safely be said that the impact of the recession has been limited on the SEO industry. Unlike the other industries which saw job cuts, salary cuts and freezing in hiring and pay hikes; the SEO industry has gained a reputation of becoming an industry of financial security during the tough times. Though this does not mean that everyone in the SEO industry got out unscathed from the effects of the recession but the damages have been somewhat less in comparison to the other industries.
To survive a recession in the SEO industry you must be realistic about the expectations you have. There are many SEO professionals who are not happy with the financial situation and do blame the recession for that. If you have clients from the recession hit industries then you definitely have reason to complain. However it is best to look at the positives in such times. If the bills are getting paid on time and you have a steady inflow of customers then you should not have many worry lines appearing.
Though mass layoffs are not something that has happened in the SEO industry, hired workers across any industry are not immune to job cuts. Hence it is best to remain an independent SEO contractor during troubled financial times rather than having the job insecurity of being an employee.
Having the right skills is a must for every industry. The right set of skills and experience are must haves during troubled times. Hence if you are qualified for some other industry it is best not to enter as a novice in the SEO industry during recession looking for refuge. Without the skills and experience you will be bound to experience nothing but disappointment.
During troubled financial times it is definitely not prudent to dream of rivers of gold irrespective of how recession proof the industry happens to be; hence even for seasoned SEO professionals it is best to remain cautious.
SEO is last item that goes into cost cutting since many companies have realized the importance and absolute necessity of SEO to survive in cut-throat competition. Also it is not a huge expense that many companies incur hence SEO is here to stay. Unlike other expenses SEO has a huge ROI. The ROI for money spent on the SEO is much higher when compared to other investments. So if SEO stops so does the profits.
Hence the future for SEO even in the recession is quite bright though there might be drops in volume with clients going bankrupt; the SEO industry offers much more stability than others.