Small business is the backbone of the economy. Small businesses are also a radiating pain point during this devastating economic downturn. According to WBUR in Boston, earlier this summer, MassINC Polling Group surveyed 1,868 small businesses (defined as having fewer than 500 employees). Their findings show that 44% of small businesses lost at least half of their revenue, and 20% lost at least a quarter of their …
There’s A New School In Ad City, It Is Free To Attend and “Unapologetically Black”
Access—you can't get there without it. In the advertising agency business, access has been afforded to the few. The industry is elite by design. The people on the inside ask those on the outside to "break-in," if they can. The entire set up is adversarial from the get-go. Yes, there's talk of a meritocracy for creatives and that's what it is—talk. In reality, aspiring creatives learn to mimic award-winning work …
The Hard Reset Begets The Big Shrinkage
In 2020 and 2021, agencies will shed 52,000 jobs, according to Jay Pattisall, an analyst with Forrester. Half the jobs will not return, he predicts. Forrester also predicts that advertising spending in the United States would decline by 25 percent this year and would not recover until 2023. Is this a solid read? No one has a crystal ball, just loads of data, and anecdotal evidence. As teams shrink in size, the …
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Jeep Beep Beeps. The New Bronco Bucks.
Ford built the Bronco from 1966 to 1996. Collectors of the mid-size SUV have pleaded with Ford to return the Bronco to its lineup. Their requests are being answered. The Bronco, which will be assembled at Ford's Michigan Assembly Plant in Wayne, will go on sale next year. The new 2021 Ford Bronco reveal event is scheduled for 8 p.m. Monday, introducing two-door and four-door Bronco models as well as a smaller …
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Brands Pause to Acknowledge the American Melee and Register Their Sadness
Exceptional brands create culture, but most brands reflect culture. Reflecting the culture since mid-March has been a creative challenge, given that millions of people are stuck at home and fearful for their health and economic well being. To make matters much worse, one week ago today, a Minneapolis cop was caught on video murdering a nonviolent man—an act which has led to peaceful protests, plus burning and …
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When There’s No Money Or Desire To Buy Things, There’s No Need To Advertise
I do not understand economics. Or, I do understand, it's just that economics stopped making sense. Did you know that demand for housing was down 18% in April; yet prices remain 7.4% higher compared to last April? How does anyone explain such figures that are clearly at odds? When you dig in and work hard to understand, the answer that is offered up is housing inventory remains low. So, demand is low, but the …
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Will Make Ads in Exchange for Food and Shelter
It's difficult to get a proper read on the number of job losses across media, marketing, and advertising in the wake of COVID-19. It's tough for a few different but related reasons. First, the great majority of people working in these industries work for small businesses. When a small business finds that it can no longer pay for people to show up and work, it's not news. It's personally devastating for all …
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Newsflash: Print Ads Now Guaranteed to Work (Not An April Fool’s Joke)
If you work in media, marketing, or advertising, it's time to innovate and there is no time to waste. That's the message from several directions today, and now we are beginning to see real-world results, as companies adapt to the new constrictions. Sarah Jerde at Adweek reports that The Wall Street Journal and Barron’s Group are now offering clients an additional incentive to advertise in their print pages. …
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