It’s common knowledge that consumer and business confidence drives the economy up and down. Early on in the downward spiral, I noticed small stories on the last page of the paper talking about indicators heading south … and those stories eventually moved up, got bigger, and ultimately owned the front page for over a year.
A little over a week ago, a group of Two Rivers Marketing associates attended a marketing conference in Las Vegas sponsored by the Association of Equipment Manufacturers (AEM). Companies in attendance ranged from multi-billion-dollar global manufactures to smaller family-owned businesses. Leading up to the conference, I was very curious as to the general sentiment and attitude about the short-term future. From our agency and clients’ points of view, things have started to rebound, but I was looking forward to others’ perspectives.
The optimism at the AEM conference validated that the tide is turning and business is starting to feel good again.
We should feel good. According to a Federal Reserve release dated May 14, industrial production rose 0.8 percent last month after a 0.2 percent increase in March. The gain exceeded market expectations by 0.6 percent and highlighted the factory sector’s lead role in the economy’s recovery from the recession. Capacity utilization, a closely watched measure of how the economy is using its productive potential, rose to 73.7 percent — which is the highest it’s been since November 2008.
The Labor Department’s monthly snapshot of the job market this month showed that employers added 290,000 jobs in April — the largest gain in four years. The United States has now added jobs for four consecutive months.
Home sales skyrocketed in April, impacting the supply-and-demand ratio of the market, which should drive new building.
Even though marketing budgets were down over the past year and a half, Two Rivers Marketing rode the storm with our clients; everyone tried to drive sales and make the most of the resources we had. Our agency is proud that despite tough times, we didn’t lose a single full-service client during that stretch. I think most of us have emerged as better marketers after having gone through the challenge of the recession. I’m excited for AEM members, other manufacturers, and their marketing agencies. Things are stabilizing and we can start competing again. Let’s get at it!
Over the decades the traditional news release hasn’t really changed that much. Thought leaders in the profession have modified the news release to be more relevant and useful, but in the age of multimedia, does the traditional release have much life left?
