Skip to main content

For Marketers, What Recession? Part 2

As an update to the What Recession? post here in May, here are the latest figures. U.S. GDP grew 1.9% in the second quarter, so once again, we are not technically in a recession. On the other hand, the overall unemployment rate spiked upward to 5.7%; not catastrophic, but clearly disturbing.

Still, these two numbers taken together may signal a positive trend. Second quarter GDP growth increased over the first quarter, which had in turn increased over the fourth quarter of 2007. And the last time the unemployment rate was this high was...March, 2004—well after the end of the last recession. In other words, the unemployment rate tends to be a lagging indicator. The fact that the jobless rate is now at a peak, while GDP growth is accelerating, may signal the end of a relatively modest recession. Of course, the policy choices of the new administration after November could swing things in either direction.

But for marketers, at least one measure—the MarketingSherpa Career Classifieds—shows no sign of a downturn. Here are the updated weekly figures over the last 90 days:

As pointed out in the May post, if we're really in a recession, the blue line in the graph above should be plunging "while the purple line shoots skyward—which is exactly what happened back in 2000. That clearly isn't happening today."

Again, it's only one indicator, and the current sunny outlook for marketers could cloud up in a hurry if the Fed gets overzealous in fighting inflation, or taxes are increased, or any of a number of other things happen. But the fact that that marketers, usually among the first crewmembers to be thrown overboard in an economic tempest, apparently aren't getting tossed to the sharks in droves is still news to be celebrated.


Contact Mike Bannan :


Seo said…
This comment has been removed by a blog administrator.

Popular posts from this blog

Digital Marketing for Law Firms, How Hard is it?

A lot of "verticals" or industries make sense for digital marketing and the whole process can be very easy and intuitive. For instance, if you are running a Search Engine Optimization company, it's very straightforward to content market:

1- Write blogs or articles about SEO
2- Try to answer questions people have about SEO
3- Optimize those blogs around what the questions are and what you are saying.

But what about an industry that is a lot more complicated and not very straight forward? What about marketing for lawyers?

ACE, one of Philadelphia's top Law Firm Marketing companies, just posted this extremely helpful blog about why SEO is important for Law Firms. It delves into exactly how to do the job for a complex industry like the law and its practitioners.

One of the key points in the entire article is: "If your customer journey does not have a use for search services, then you'll never see SEO campaign results."

We recommend reading the whole thing. …

Tip #3 to improve your digital marketing

Do Your Research You may have ideas for what is going to work best for your audience based on past experience with your ads, but taking the time to conduct thorough research and have data to support your actions is important. You may anticipate that your customers will behave a certain way, when in fact they go in a completely different direction. It’s essential to be prepared for this ahead of time and use the information you collect from research to planning your marketing strategy. Elliot Simmonds explains this concept below:

“ A lot of people use sponsored posts and other paid advertising, and it seems that many are happy to simply pay the money and watch the views and clicks roll in - even if some of those clicks are from individuals tangential to the product or service they're promoting. Most platforms allow you to specifically target your sponsored posts and ads, and my tip is to do so following a period (even if it's only a short period) of actual research. Your gut i…

Tip #2 to Improve your Digital Marketing

Spend Wisely Each platform used to market online provides you with a different value. You need to analyze which outlets you should invest more time and money into, and which ones are not as important. Some platforms that work well for one company, yield little to no results for another. You need to find the one that suits your business goals the best. Digital Marketing is all very specific to your brand, and you need to plan your budget accordingly. Determining what each platform is going to do for your specific advertising efforts should be the basis for the decisions you make with your campaigns, explains Hitesh Sahni, Marketing Consultant at Smemark:

“It’s imperative to understand the value each channel offers. Search advertising platforms, such as Google Adwords, work best when there is a clear demand for your product or service, and you want to target people who search for your product or service online. Search advertising is less effective for a startup that has created a new an…