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Archive for the ‘Economic Meltdown’ Category

Google Says Goodbye to Radio Ad Business

February 15th, 2009

Having recently given up the ghost on their print ad business Google recently announced they are abandoning their radio advertising business too.

“While we’ve devoted substantial resources to developing these products and learned a lot along the way, we haven’t had the impact we hoped for,” Google vice president of product management Susan Wojcicki wrote in a post. “So, we have decided to exit the broadcast radio business and focus our efforts in online streaming audio.”

Economic Meltdown, Industry News

47 Magazines Have Folded in 2009

February 10th, 2009

It’s unlikely you’ve heard of many of these but it’s only Feb. 9. List copied from Folio.

Advanced Manufacturing
Ascent Magazine
Asian Week
Bank Advisor Magazine
Book World
Chiropractic Products
Cigar Report Magazine
Comic Foundry
Corporate Leader
Country Home
Criticas
Dealmaker
Digital Graphics
Domino
Electrical Contracting Products
Florida Designers Review
ForbesLife Mountain Time
Furniture Style
The Good Life
Green Business
IndyCar Series
Ignite Your Faith
Metal Edge
Metal Maniacs
Network Cabling
JPG Magazine
Locus Suspectus
Longboard Magazine
New York Look
NWA WorldTraveler
Pacific Magazine
Players Club, The
Private Air
Realms of Fantasy
Redmond Developer News
Relix Magazine
Scrye
Sign Tech
Simple Scrapbooks
Smart
Teen
Timber Homes Illustrated
Trader Monthly
Traffic World
Wondertime
Workplace
Wraps

Economic Meltdown, Industry News

24,100 Agency Jobs Lost to The Recession

February 10th, 2009

According to Ad Age, 24,100 ad agency jobs have been lost to the recession so far. Total media jobs lost have climbed to over 65,100.

Agency News, Economic Meltdown, Industry News

Buying Super Bowl Ads Morally Bankrupt

January 31st, 2009

USA today is running an article arguing that Super Bowl ads bought this year come at the expense of salaried employees. At $3,000,000 per 30 second spot its not an unconvincing argument. This topic is a particularly hot one coming down from a week when 70,000 layoffs were announced.

Read the article at USA Today.

Economic Meltdown

We are Flooded with Advertising Agency Resumes

January 30th, 2009

Sage advice from Tribble Ad Agency: “We just wanted to point out that our firm has received a massive increase of advertising agency resumes being sent in for the past week. On average we received 1-2 a day last year… now we are receiving 10 to 40 per day.. roughly 1000 resumes per month … they are literally pouring in. HR is being overwhelmed with the volume of resumes. We’re growing, but not like that… nor will we ever want to grow like that. Irresponsible growth is what forced many of these massive layoffs in the first place.

Just a word of advice, if you are looking for a job, blindly e-mailing your books and resume in isn’t the way to get a job. The way to get a job in this recession isn’t to just peddle your books, the better way to get a job is to setup a search engine friendly blog, post your thoughts on advertising in todays economy, make it robust, complete with your books an examples online.

It’s not the old boys network of BDA’s anymore, and judging on the volume of resumes being sent it, it’s not going to be a BDA world anymore.

Send the agency you are applying for the link to your blog / website via Linkedin , Twitter, Facebook, get your ‘i need a job’ site on the main page of Digg screaming why someone needs to hire you…anything other than blindly sending in an e-mail.

The reason you want to do it this way is simple, it proves you know how to build a decent blog or website, it proves you know how to use social media tools, it proves you understand at least some aspects of how business is being run and advertised today.

Rank for the keywords you feel that agency wants.

The chances are the owner or person in power of hiring will be of course trolling their own search terms in Google (not their trademarked name, but the name you think they are looking for. Trying to rank for their trademarked name will results in lawsuits not employment), seeing your name up there in the results will force them to take a peek.

Trust us on this, sending an e-mail with some Pepsi ad that you created that cost Pepsi millions in print media spends to distribute isn’t cutting it, not by a long shot. (we singled out this one because this poor sap sent in a 30 meg e-mail filled with TIFF images) and a Microsoft Word document as his resume to boot.

You have to keep in mind that the word ‘advertising’ has changed, years ago we had a long conversation regarding the definition of advertising, it came down to the many of the holding companies didn’t view Advertising the same way we did. ‘SEO isn’t Advertising’ ‘Social Media isn’t Advertising’ Big bills and massive media spends were the only things that were considered ‘ads’ hence their lack of investment in our field of advertising, and hence why we are flooded with resumes from Ogilvy, BBDO, Arnold and overall almost every agency of size within a holding company. Our problem is that these ad agencies largely never trained their employees on Advertising… or at least how we define it. … our view is polar opposite on Advertising, what’s the point of throwing up marketing material on print media if no one reads it, or if they do read it.. they can’t find it the generic products name in the search engine to buy it or they are not reading good reviews on individual blogs about the products.

What do we know… we are only the ones collecting BDA resumes.

Good luck and good hunting… worth noting during the interview process it’s fair to ask the HR person if the Advertising Agency is profitable. Last thing you want is after all this hard work to be handed a pink slip again.

Economic Meltdown

Yahoo leaks and more cuts could loom

January 27th, 2009

ADOTAS — Yahoo will be releasing its Q4 results tomorrow, with analysts expecting a revenue and profit drop.
While Yahoo’s search will still be strong, display advertising,  its main business,  is expected to show the biggest dip. Despite massive layoffs, ‘giddy like school girls’ investors will want more cost cutting and a clear plan to win back market share from Google and others. It’s unlikely that they will get that tomorrow.
Speculation is rampant about new talks with Microsoft or a possible deal with AOL. Steve Ballmer has said that he would like to do a search deal with Yahoo, though CEO [...]”

(Via Adotas.)

Economic Meltdown

FedEx Passing on Superbowl Spot this Year

January 25th, 2009

FedEx is breaking tradition by not airing one of their more-often-than-not hilarious BBDO produced crazy SuperBowl commercials. The reason for their absence is explained on their blog:

“As a country, we are in unprecedented economic waters. And as a responsible employer of more than 290,000 employees and contractors worldwide, there is a time to justify such an ad spend and a time to step back. ”

With NBC getting $3 million per 30 second spot this year and the economy in the crapper their decision comes across as a good guy move, but they will definitely be missed.

Economic Meltdown

Starbucks to Fire 1,000 People

January 25th, 2009

Starbucks is expected to make a big round of layoffs, as many as 1,000 people, according to an email sent to investors. The layoffs will be concentrated at Starbucks HQ, cutting the number of workers there by a third.

Economic Meltdown

Microsoft to eliminate 5,000 jobs

January 22nd, 2009

Microsoft joins the scores of companies forced to cut jobs to reduce operating cost. The move to layoff 5,000 people is unprecedented but Microsoft is not immune to the recession plaguing every sector of the economy.

“While we are not immune to the effects of the economy, I am confident in the strength of our product portfolio and soundness of our approach,” said Steve Ballmer, chief executive officer at Microsoft. “We will continue to manage expenses and invest in long-term opportunities to deliver value to customers and shareholders, and we will emerge an even stronger industry leader than we are today.”

Economic Meltdown

Obvious: Starbucks Hurting in Failing Economy

January 20th, 2009

Ad Age not only reports the obvious, they pay for a survey to prove it.
Lightspeed Research was commissioned to ask consumers if they had cutback upmarket coffee consumption. The answer, unsurprisingly, is yes.

Economic Meltdown