
So, I’ve been thinking all this while I was away from blogging. Not like, thinking all the time, but thinking about what is affecting the industry the most at the moment, what is the most important thing on every media professionals mind right now. And yes, the obvious answer is the economic downturn.
And I have been thinking about this because it affects me directly. I have been hunting for jobs from quite sometime. Jobs, positions, internships. The works. But not getting one. Anywhere. How is that possible?
There are a lot of people getting laid off. Lot of unemployment out there. These unemployed people are all potential consumers. Now that they have all this free time, what are they doing? (Apart from hunting for new jobs) Now this is just my brain power at work, no proper research, no journal backing. But according to my guesstimation, most of the expert professionals who are, if at all, getting laid off, will be picked up someplace else. Maybe at a better position, maybe not. But so, they will have jobs. Lets rule out the extremely skilled work force here, and upper income brackets. This leaves us with a huge Mid-level income earning bracket of people, who are applying for jobs at home, and then getting out and getting involved in some other activity.
What are these activities? They obviously are not being hit that bad? They obviosuly are making their way through. They obviosuly should have scope for growth at this time, and scope to make more money, and hence hire skilled grad students like me.
So, here’s a break down of those areas that I think should not be hit that hard.
1. Newspapers. I know everyone is screaming blue murder about their extinction, but come on, when you are unemployed what is the first thing you do? Buy a newspaper. I know that purchasing a newspaper does not actually mean profits for a newspaper (I was a journalist in some birth), but it does mean more eyeballs on the paper, more frequency, more reach. So if companies put invest in print ads, awareness will be high. The minute these consumers get any kind of a job (I hear people are lining up to conduct the 2010 population polls), this awareness will have a lot of strength in their actions.
2. Gyms. Now that I have so much time on my hand, I should probably tone up my body/lose weight/get some muscle mass/get in shape. The list is endless. Statistics show that most of the people who lose a lot of weight, get toned, etc, are stay-at home people, people on a sabbatical, people between jobs, which translates to people currently unemployed!! So these gyms, should advertise more, to gain more awareness, to remind people that they now have time to look after their body, to at least feel good about their image. Also, being a Good Samaritan and offering a couple of free personal training sessions, to help people with tighter budgets, will get more patrons. Guaranteed.
3. Tourism. Know how many Americans don’t even know what the capital of this country is? Don’t know where on the globe NorthAmerica falls? Have not ventured out of their birth town ever? With more free time, people should be encouraged to know more about their culture. Get out of town, visit NYC if you live on its outskirts; Chicago, if you live anywhere in south Illinois; St. Louis, for people from Missouri; Seattle for people in North California
and Washington. My geography is a little rusty too, but I am sure there are lots of places for people to visit, to know more about, to learn about USA, to take their children to. If the governing agencies of the states start advertising how visiting monuments, historical national parks, natural sites and a wonderful way of educating children about the culture and history of USA, I am sure it will be a hit.
4. Gardening Supplies. Not sure if there are companies that specialize in gardening supplies, but hey, this is a biggie! Gardens are like people’s open houses. People love to dress them up, since it is out in the open, show it off to every random passer-by too. Also, due to budgets and cost-cuttings on shopping trips, people will turn more to home-grown produce. Which means more gardening supplies. It will sound like a small expense to overtake a larger, more recurring expense, but it works out in the favor for someone at least
5. Online Media. The obvious one. The only sector that has not crashed completely. The only industry which has actually offered my best friend a +100 K job (He took it, thank you very much). So, people are going to turn to the internet. They pay the monthly Comcast bill anyway right? Might as well watch TV online, shop online, surf websites only, HUNT FOR JOBS ONLINE!, watch youtube, blog, read blogs, read about other people getting laid off, start their own website (I am on this bandwagon right now). Online media should be booming. Internet traffic, if anyone does monitor it, should be escalating. What does this offer us? More scope for advertising. More eyeballs for the product you advertise. More places to advertise in, more blogs to sponsor, more interactive tools to offer, more banners, more annoying dancing ladies claiming an amazing insurance plan and yadda yadda.
6. Pets. I have statistics that actually prove how the pet industry defies economic downturn. Weird. I guess I can’t understand it since I dont own a pet, but apparently, pets are like people’s children. So people would rather cut back on spending on themselves than on their pets. So people continue to buy pet toys, pet products, pet beds, pet food, pet everything. This would explain the big budget Pedigree ad this superbowl.
7. Army. No one hears about army men and women being laid off now do they? But well, its an opportunity-less field, or so I think.
For now, these are all I can think of. Anyone have any more?
P.S – Now that I have compiled this, I should probably start applying furiously to ALL these industries, selling them a sales rep, marketing exec, ad person, to enhance their profits or something like that.