Loyal Lairig Marketing readers were not surprised by the jobs report last Friday, forewarned through our five-part series on the economy from early April.
Economists were surprised, of course, expecting twice the level of job creation in May. We’ve covered that ground too, highlighting the dismal scientists’ poor forecasting capabilities, way back in the day.
Still, not a peep about the economy from Ad Age, Mashable, Fast Company, not even Seth (who devoted an entire post last week to five words – “Sometimes, only better is better” – garnering over one-thousand “likes”).
This is not The Great Recession Part 2, however. This is the “Turning Japanese” scenario we listed in part 5 of our April series. We shall coin it The Great Cessation.
Our latest “new normal” will be less democratic than before. This is now an economy of haves and have nots (and the haves total well beyond the hated 1%).
In a perverse way, marketers will luck out. Their ignorance of the current economic peril – “Hey, everything is OK” – can now be spun as “Hey, we were only talking to the haves.” See Pepsi’s new, tone deaf “Live For Now” positioning, for example. Pepsi can declare this was not meant for the have nots in the first place, since they have nothing to live for.
But there are some nasty ramifications coming for marketers, for which a tarted up tagline won’t provide enough cover.
Social Media Scrutiny
The ongoing Facebook IP-No will ensure C-suites put pressure on investment in social media marketing. GM’s pullback was only the first brick. (How ironic – and potentially “bubble confirming” – that today Salesforce.com announces a near-$700-million purchase of a company that does nothing but help companies market on Facebook).
New Life For The Events Industry
The reemergence of marketing and selling face-to-face will hit a crescendo by year end. Marketers will be sponsoring as many events as the calendar will allow.
Marketers will realize Groupon is a “have nots” strategy. Expect to see a lot more two-for-ones, free shipping, and co-marketing as companies get more creative about keeping the “haves” they already, um, have, and lure in new ones.
A Publishing Shake-out
Bad news for late followers in content farms, online music, and specialty magazines. Too much inventory and not enough demand for the “eighth coming” of Pandora, for example. The rest of 2012 will be a torrent of announcements stating “this or that publisher is laying off dozens or closing its doors for good.”