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Marketing recruitment: July 2009
Marketing News |
15/07/2009
New phrases seem to enter the English language on a daily basis now. Some fizzle out never to be heard again, while others resonate with people and become part of their lives. Around two years ago the term 'credit crunch' was coined and it quickly became clear that it would fall into the latter category. It is probably safe to say that it has also found a space in the list of words that strike fear into the hearts of marketing professionals, along with the dreaded recession. Synonymous with cuts in both marketing jobs and spend, those working in the sector could be forgiven for letting out a small sob each time they hear it mentioned, but is the outlook for the sector really that negative?
Well, late last year professionals in the field certainly thought so. In November 2008, a poll by the Chartered Institute of Marketing (CIM) found that 70 per cent of respondents expected the economy to get worse over the coming year. However, by June their spirits were much higher, with just a third predicting a further deterioration in matters over the next 12 months. Despite this, the same study still found that there were fears over job prospects in the sector, with 32 per cent of respondents worried that they might be made redundant.
Taking any action without properly thinking through the consequences is likely to have an adverse impact on a business. Although firms might see promotion as an area to cut back on if cash is short, David Thorp, director of research and information at the CIM, believes that companies should be looking to professionals to help them steer a path through the recession.
He said: "The need for organisations to employ and develop professional marketers has never been greater. Now is not the time for amateurs to be looking after your marketing."
Results must be Monitored
Equally though, it is no good for either marketers or the businesses looking to benefit from their talents to pretend that the recession is not leading to dramatic changes in the way things are done. Perhaps the biggest realisation of the downturn has been the manner in which the internet allows firms to monitor the effectiveness of their marketing spend. Furthermore, the drive to expand broadband internet access to the whole of the UK, should mean there are many new ways to reach people.
Commenting on the marketing sector John Lynes, director of the Ashdown Group, said: "The downturn between October 2008 and April 2009 was particularly sharp because of the fall in consumer confidence and job security. Media terms such as 'credit crunch' have whipped up a frenzied panic in the market, the role of the media may have actually achieved some good by accelerating necessary changes in habit. We now see inflation back in the target zone, voluntary mortgage repayments at their highest level as consumers react to the hangover created by overspending and living a life funded by borrowing.
"This panic and subsequent change has certainly had a dramatic effect on the economy, particularly volumes of vacancies across all sectors as companies started firing not hiring. The market was in freefall between January and April. However, we have seen a steady return to confidence across all sectors. With this new found stability, we are seeing a new phrase appearing 'the green shoots of recovery'. I am not sure that we can definitively say that we are moving towards a full recovery but for now we are very happy with the new found confidence and stability as companies look to hire.
"Those companies that look to take early advantage from any improvements in confidence will certainly prevail with greater market share but it takes a brave business to invest heavily whilst the future is uncertain. Marketing roles that are highly measurable in their success and achievements, particularly those with an internet skillset which will allow companies to take advantage of search engine optimisation and harness the power of social media sites may provide the answer and a positive move towards a full recovery."
Posted by Jon Aspinell.
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