Everybody is talking about Wall Street and Main Street being hit with the economic downturn. But few are mentioning all the other businesses in between the Wall Street money guys and the Joe Sixpacks who are enjoying new renown, courtesy of this election.
According to a report in Marketing Vox, media companies are getting hurt. Ad revenue is declining as people aren’t buying. Who wants to advertise to a group of people who don’t have any money? Perhaps a little brand building, some special offers, but otherwise, it is like squeezing blood from a rock.
Even Google has slowed its hiring process. Worse yet, it has rescinded its free evening meal policy. Is this a belt tightening operation, or what? Yahoo and Nielsen have laid off a ton of people. Even the Financial Times will reduce it’s staff by 60.
The other day there was some mention of recently unemployed Wall Street personnel looking for advertising gigs on Madison Avenue. Strange. First Wall Street helps to ruin the economy so no one is buying anything. And then they try to move over to Madison Avenue where the agencies are trying to sell stuff that no one can afford to buy.
Okay, so it is penny pinching time. It is also the time to consider hiring someone with media experience and great media and marketing savvy. Even by employing someone as a consultant, your business may conceive of new ways to move ahead in this economic downturn. There are probably more than a few bargain hires out there, candidates out on waivers, to use a baseball phrase, who can show you how to promote your company through the judicious use of media buying. There are plenty of bargains to be had out there when it comes to advertising and the space, time and positioning to promote your products and services.
It is more than mere courage that causes a company to move forward in these economic times. Sometimes, if done correctly, it is simply the smartest thing to do.
Check them out before you hire.
