How did the economic crisis of 08/09 affect making money online?

Why are you asking about the state of the economy 8 years ago? Should you be looking to the present/future?

I'm just wondering how the mmo industry dealt with the economic crisis. And how it adapted and changed.

2009? That was the best experience I had online up to that point.

I had a quality product that had to do with making money and people wanted to make money.

Not much has changed since then from that perspective really.

This is interesting...

Facebook hit a billion users in a month in 2012

In August 2015 Facebook hit a Billion users in a day.

Facebook in 2030? 5 billion users, says Zuck

Facebook makes its money offering something free to get user count...then makes the advertisers pay to have access to them.

I had a killer year in 2009. That was when there were tons of people getting laid off, and they were flocking to the net in droves to learn how to make money online. That's actually what made me decide to get into that niche. I'm glad I did because I've made a killing so far. In fact, I'd go as far as to say that the economy crashing was the best thing that ever happened to me!

I think you should consider two things that happen during an economic crisis:
1. Many people lose their jobs and it's practically impossible to get a new one. So they try anything and everything to earn some money. Many will try out the online venture. I personally know people that came in online business during the economic crisis and are product owners and profitable now. At the same time, some of the new people only use online business as a transition before they get a new job. Of these, a part will continue with the online business in their spare time after they get a regular job.
2. Generally, there is less money to spend and people are less willing to spend what they have. From what I know the influx of new people more than compensated the scarcity during 2009.

But I have no relevant personal experience in online business during the economic crisis of 2008-2009, others may have a better insight backed by data.

I think it had more to do with the maturation of the internet more so than the economy. During the wild times between 2000-2010, we saw the proliferation of new technologies such as web 2.0, social bookmarking, rss feeds, search engine marketing, blogging, search engine optimization, article directories, etc. that allowed so many people to make easy money.

The internet matured and instead of a new web 2.0 site that seemingly debut everyday, the industry has consolidated to a few big players where people focus most of their attention on: most notably social media sites like FB, Twitter, etc. Other things have gone somewhat out of style, such as backlinking through press releases, Digg, article directories, etc.

Before the Adword account bannings in 2009, it was like taking candy from a baby.
I think I was converting around 20-1 paying about 35 cents per click selling Fat Loss For Idiots.

One other thing I remember; I lost about $1,000 over 6 months on Adwords before I figured it out and started making good money.

I think the warrior forum should add a new sub forum, call it Useless, or Waste of time

al

Well if you were selling in a high competition niche, yes it's it going to be very tough - especially during an economic crisis. In a smaller niche, expect things to be the same - but you'll still have a relavtively high conversion rate. For me, sales slowed down and i tried to tweak and do things to my site that could help with the sales. Nowadays though, the only thing that matters online during a crisis or not is great marketing.

It drove tons of people online looking for solutions.

If you had those solutions then you did well.

Patrick

I think the economic downturn influenced more people to look for ways to make money online.