The recent recession created a plethora of negative economic indicators and outcomes for businesses and workers across all industries. For several years, the ability to find productive work in most industries was hampered due to a tightening of demand for products and services, and an explosion in supply of ready workers. Those who were harmed the most by these developments were recent college graduates, who were saddled with obligations and no short-term solution for career development and work. As the economy has continued to improve, so have these conditions. Tepo Consultancy reviewed recently how improved trends in direct college-to-work figures are good indicators for clients and marketing agencies alike.
Recent economic data on the rate of youth career development following college graduation seems optimistic, according to Tepo Consultancy’s Director Tiarnan Okane. He outlined to clients why this is important, stating that “the slowing down of continued furthering of study indicates that a healthy balance of supply and demand is now being restored to the market. Since the youngest and least experienced in the workforce were hardest-hit by the recent economic downturn, a reversal of this trend in this particular demographic indicates solid economic improvement is occurring”.
Businesses and brands focused on economic expansion understand how essential marketing strategies can be during times of economic boom and bust. During the good years, sound marketing strategies can be used to easily reach new audiences and markets. During the bad years, qualified marketing approaches can help to prevent a loss in customers or clients. Tepo Consultancy and other leading marketing firms understand that the reduction in unemployment following graduation means that the economy is returning to a more positive state. This will allow businesses and brands to expand marketing budgets and go on the offence rather than defence with respect to advertising strategies.
As the economic situation continues to improve, more marketing agencies and firms should expect improved conditions that relate to expanding marketing budgets and increased interest in marketing services. At the same time, marketing agencies in dire need of fresh talent should act quickly in order to avoid a tightening supply of qualified college graduates, for likely future conditions will require increased investment in people on the part of firms. Tepo Consultancy will continue to work tirelessly on investigating various market conditions and data-points, and use them to better improve how marketing strategies perform in a wide variety of ways.