Everybody’s Gonna Get Wet

While the economic numbers bandied about in the media vary
in the absolute, a common theme, whether you are reading BBC news, the NY Times
or the Charlotte Observer, is essentially that growth, while present, is
sluggish. Additionally, they all confirm that growth in the US is below a level
needed to match the growth needs of the economy.

As reported in the news today, the economic consensus seems
to be a good news/bad news scenario: The good news being that a double dip
recession is believed to be unlikely. The bad news is that the consensus among
economists is this stagnant economy is now expected to persist for years,
possibly even through the next decade.

But this is not intended to be a pessimistic post, and I would
like to point out a possible silver lining. For as Keynes once pointed out, “In
the long run, we are all dead”.  Why act
all gloomy now while we are still here.

One positive is that now may be a great time to invest,
while prices are depressed. This thinking applies to individuals, but is even
more true for companies. In recessions of the past, companies that invested
more heavily in branding and recognition than their competitors achieved great
benefit more quickly and to a higher degree when the economic tide once again
turned.

I believe this stance could be even more relevant today.
People are more invested than ever before in communicating. Sociologically,
there are a number of reasons for this. One that is important here is that
social media represents an escape for consumers, and is a relatively
inexpensive pursuit.

From a company perspective, investment in social media
presence is also a less expensive investment than other media choices and many
promotions. Many digital media options can be tested on a highly defined and tightly
limited basis. While your product may not have a favorably elastic demand, and therefore
may not fly off the shelves today, a brand building opportunity at bargain
basement prices may be present for those who can sustain themselves through
this current storm.

So test; have a little fun. It will take your mind off of
unmet sales projections 🙂

 

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