Today in Adage, they published an article entitled: Ten Signs the Worst of 2009 is Behind Us... and 10 Reasons to Remain Worried about 2010.
So which is it?
Truth is, none of us know for sure.
I encourage you to read the article in its entirety, but a couple of macro themes stuck out to me.
1) Consumer confidence remains low. Until people are certain their jobs are not going to go away and they become certain they are not going to need to support additional family members or friends - people are going to do without and pull back on discretionary spending.
2) The available housing inventory is decreasing as a result of the 'first time home buyer' tax credit and crazy low interest rates - but whether or not we can continue to outpace the number of foreclosures and defaults coming into the market has yet to be seen.
3) Ad spending is down for what could be the third consecutive decline, unprecedented since the Depression. People are certainly consuming less, but they are also becoming more focused in their spending. At our marketing firm in Indianapolis, Element Three, we have encouraged our clients to spend less building general awareness (these would be ad dollars) and shift that spend towards client retention, penetration and creating brand awareness in target markets. This is a time when companies should become more focused in the products they offer and the customers they service.
What are steps your company is taking to become more focused in their marketing efforts in this economic period?
So which is it?
Truth is, none of us know for sure.
I encourage you to read the article in its entirety, but a couple of macro themes stuck out to me.
1) Consumer confidence remains low. Until people are certain their jobs are not going to go away and they become certain they are not going to need to support additional family members or friends - people are going to do without and pull back on discretionary spending.
2) The available housing inventory is decreasing as a result of the 'first time home buyer' tax credit and crazy low interest rates - but whether or not we can continue to outpace the number of foreclosures and defaults coming into the market has yet to be seen.
3) Ad spending is down for what could be the third consecutive decline, unprecedented since the Depression. People are certainly consuming less, but they are also becoming more focused in their spending. At our marketing firm in Indianapolis, Element Three, we have encouraged our clients to spend less building general awareness (these would be ad dollars) and shift that spend towards client retention, penetration and creating brand awareness in target markets. This is a time when companies should become more focused in the products they offer and the customers they service.
What are steps your company is taking to become more focused in their marketing efforts in this economic period?
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