As companies from Charlotte to Raleigh (and across the country) examine their marketing budgets for 2009 and prepare to make deep cuts, many NC ad agencies are worried about how the economic downturn will affect their staff and their client relationships.
In lean times, however, smaller design and marketing studios generally do better than large advertising agencies because, unlike the traditional agency/client model, the smaller, more agile creative shops operate on a project-based model, which is better suited to the trough in the economic cycle. Think about it: it’s a huge commitment to have a contract and a monthly retainer, and clients are increasingly looking for more efficient solutions.
The Nielsen 2009 Industry Outlook is titled "Careful” and here are some of its most general observations:
In lean times, however, smaller design and marketing studios generally do better than large advertising agencies because, unlike the traditional agency/client model, the smaller, more agile creative shops operate on a project-based model, which is better suited to the trough in the economic cycle. Think about it: it’s a huge commitment to have a contract and a monthly retainer, and clients are increasingly looking for more efficient solutions.
The Nielsen 2009 Industry Outlook is titled "Careful” and here are some of its most general observations:
- Overall spending will be tighter.
- Consumers will focus on products and services that provide "a rational benefit."
- Increased spending will most likely be "found in the online, mobile and in-home entertainment sectors."
- Consumers, manufacturers and retailers will be in a "no frills" mood.
- The "green movement" will be moved more by desires to save money than by pure environmental concerns.
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