Marketing and the Economic Turnaround

The recovery we?ve been hearing about seems to be lagging in the marketing field. Take these indicators from three very different sources:

1. Direct marketing hiring is sluggish, according to Jerry Bernhart?s latest employment survey. Of the companies polled, 46% plan to add staff in this quarter, compared with 50% in last spring?s report. Still, that?s better than the 40% reported last year at this time. 21% have a hiring freeze, up from 13% in the spring. And there?s been a slight uptick?from 4% to 5%?in the number of firms planning layoffs. No improvement there.

?In terms of job creation we?re only a few points ahead of a year ago,? said Jerry Bernhart, principal of Bernhart Associates Executive Search, LLC, in a statement. ?Much like the overall U.S. economy, our employment indicators have remained within a narrow range for the past year and a half.?

He added, however, that there is ?plenty of activity out there? for lower to mid-level digital and direct marketing job seekers.

2. Small business owners are reluctant to expand?or hire, according to a survey by the National Federation of Independent Businesses and the National Association of Manufacturers, as reported in The Hill. Two thirds feel that way, and over half say they wouldn?t start a business today.?It follows that they?re?gun-shy when it comes to marketing. Many blamed the economy and government regulation.

3. CMOs are feeling the pinch. In the recent CMO survey, only 29% of?those polled?said they?re optimistic, a 34.4% decline from February. And 35.8% said they?re less optimistic. Marketing budgets have suffered accordingly.

?This is not just a macroeconomic swing based on interest rates or unexpected international events,? said Christine Moorman, director of The CMO Survey, in a summary. ?Instead, CMOs expect key customer metrics to decrease in the next 12 months, including purchase volume, of related products and services, retention, and new customers entering the market.?

What should we all do? First, don?t despair. Many of these problems are attitudinal.

Second, take advantage of the empty mailboxes and inboxes. This is the time to ramp up.

Finally, keep an eye on your ROI. It?s easier to make the case for expansion when you can document results.

Tags: Budgets, Hiring, Marketing budgets, ROI

Source: http://tellallmarketing.com/blog/?p=4573

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