In the Headlights: July 1, 2020 Issue - Trust Insights Marketing Analytics Consulting

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In the Content Marketing Institute’s Slack yesterday, moderator Jeremy Bednarski asked, “What are your marketing predictions for the second half of 2020?”

Right now, forecasting and predicting anything further out than a few weeks is a fool’s errand for the most part. Here’s just a sample of what’s currently in play that could severely disrupt any marketing/business forecast:

The pandemic, still in its early stages
Those afflicted by long-term health consequences from the pandemic, about 20% of survivors
A massive wave of evictions and rent collections which were suspended but not forgiven (USA specific)
A massive wave of loans and other debts coming due in July/August (USA specific)
Suspension or termination of economic hardship relief programs (mostly USA specific)
Upcoming flu season concurrent with the pandemic
Global GDP impact of -5.2% to as much as -8%
A forecasted active hurricane season
A US presidential election
Massive unemployment around the world

That’s not a small list of very, very difficult things to forecast, and the complexities of their interactions makes the future even more murky.

That said, our stakeholders will be asking us for plans, forecasts, budgets, etc. and likely won’t accept an answer of throwing our hands in the air and shouting “YOLO!” What are we to do?

The path forward for all of us is to start by looking at the data we do have, and then building forecasts based on scenarios. Instead of putting together a single plan, we assemble plans based on reasonable potential outcomes. Given the list above, what are some realistic scenarios you might plan for?

A continued severe economic contraction with economic activities down by 50% or more, depending on sector
A shallow, prolonged economic downturn after a rebound once shutdowns mitigate, with economic activities down 20-40%
A bounce-back to economic activities nearing 80-90% of pre-pandemic levels

Given the current situation and existing forecasts, it’s unlikely there would be a complete recovery or growth of world or individual economies in 2020, so while you could adopt that as a best-case scenario, it’s looking increasingly unrealistic.

The antidote to panic is solid planning. Based on the scenarios above, what plans would you build for a 50% reduction or more in revenue? A 25-40% reduction? A 10-20% reduction? What budgets would you put together, what hiring plans, what marketing strategies? If you’re B2C, how will you plan for similar decreases in consumers’ wallets? If you’re B2B, how will you plan for decreases in what clients want to spend?

With plans for all the above, you’ll be well-equipped for the second half of 2020 to deal with whatever the world wants to throw your way.

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How do you build a better dashboard? What should be on your dashboards – and what shouldn’t? In this talk from the MarketingProfs B2B Forum, watch and listen as we discuss what makes for a great reporting dashboard.

Watch the talk now!

In this week’s Rear View mirror, we look at Facebook for brand pages in June. How did the start of summer do for brands?

After a return to growth in May, we see brand engagement rates stabilize in June. May saw a median of 0.10% engagement, while June plateaued at 0.11% engagement. This is inclusive of all forms of likes, comments, and shares.

These engagement rates remain substantially higher than at the end of 2019, when rates averaged 0.02%. We’ll be keeping a close eye on what happens to brand engagement in July when several large brands have pledged to stop advertising on Facebook in the #StopHateForProfit campaign.

Key takeaway: if you’ve been posting on Facebook and seeing decent results, expect no substantial change in the days to come. Keep a careful eye on any ads if you’re running them, and watch to see if brand organic content spikes to make up for a lack of ads by some major brands.

Methodology: Trust Insights used Facebook’s Crowdtangle software to extract brand social media posts from 3,771 brand pages. Brand pages were initially selected by Crowdtangle and augmented by Trust Insights. The date of the study period is May 1 – June 30, 2020. The date of extraction is July 1, 2020. Trust Insights is the sole sponsor of the study an d neither gave nor received compensation for data used, beyond applicable service fees to software vendors, and declares no competing interests.

AI Academy for Marketers is an online education platform designed to help marketers understand, pilot, and scale artificial intelligence. The AI Academy features deep-dive Certification Courses (3 – 5 hours each), along with dozens of Short Courses (30 – 60 minutes each) taught by leading AI and marketing experts.

Join Katie Robbert, CEO of Trust Insights, and Christopher Penn, Chief Data Scientist of Trust Insights, for three separate courses in the academy:

5 use cases of AI for content marketing
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Detecting and Mitigating BIAS in Marketing AI

The Academy is designed for manager-level and above marketers, and largely caters to non-technical audiences, meaning you do not need a background in analytics, data science or programming to understand and apply what you learn. One registration gives you unlimited access to all the courses, an invitation to a members-only Slack Instance, and access to new courses every quarter.

Join now and save $100 off registration when you go to TrustInsights.ai/aiacademy and use registration code PENN100 today.

Shiny Objects is a roundup of the best content you and others have written and shared in the last week.

Data Science and AI

SEO, Google, and Paid Media

Content Marketing

Get Back To Work

We’ve changed things up in Get Back To Work, and we’re looking at the top 310 metro areas in the United States by population. This will give you a much better sense of what the overall market looks like, and will cover companies hiring in multiple locations. Want the entire, raw list? Join our Slack group!

What do you do with this information?

By looking at this data, you’ll see what the most popular titles are; use any of the major job/career sites to ensure your resume/CV/LinkedIn profile matches keywords and phrases for those titles. For companies, search job sites for those companies specifically to see all the open positions and apply for them.

You can also hit up LinkedIn and see who you know at companies listed, and see if your connections have any inside tips on hiring.

Top Marketing Positions by Count, Manager and Above

Marketing Manager : 517 open positions
Digital Marketing Manager : 280 open positions
Account Manager : 274 open positions
Project Manager : 205 open positions
Social Media Manager : 179 open positions
Marketing Director : 176 open positions
Director of Marketing : 164 open positions
Product Manager : 157 open positions
Product Marketing Manager : 151 open positions
Program Manager : 103 open positions

Top Marketing Hiring Companies by Count, Manager and Above

Amazon.com Services LLC : 143 open positions
Amazon Web Services, Inc. : 104 open positions
Pearson : 67 open positions
Marketing 180 : 61 open positions
Oracle : 58 open positions
Northrop Grumman : 44 open positions
UnitedHealth Group : 40 open positions
Confidential : 38 open positions
AstraZeneca : 36 open positions
CITI : 35 open positions

Top Locations of Hiring Companies by Count, Manager and Above

New York, NY : 761 open positions
San Francisco, CA : 436 open positions
Chicago, IL : 382 open positions
Seattle, WA : 379 open positions
Austin, TX : 339 open positions
Atlanta, GA : 302 open positions
Los Angeles, CA : 286 open positions
Boston, MA : 280 open positions
San Diego, CA : 209 open positions
Denver, CO : 193 open positions

Methodology: Trust Insights uses the Indeed.com API to extract open positions from a geographic area focused on marketing analytics, marketing, social media, data science, machine learning, advertising, and public relations, with a filter to screen out the most junior positions.

Featured Partners

Our Featured Partners are companies we work with and promote because we love their stuff. If you’ve ever wondered how we do what we do behind the scenes, chances are we use the tools and skills of one of our partners to do it.

Join the Club

Are you a member of our free Slack group, Analytics for Marketers? Join 800+ like-minded marketers who care about data and measuring their success. Membership is free – join today.

Upcoming Events

Where can you find us in person?

Women in Analytics, August 2020, virtual
ContentTech Summit, August 2020, virtual
INBOUND 2020, September 2020, virtual
MarTech East, October 2020, Boston, MA
HELLO Conference, October 2020, New Jersey
MadConNYC, December 2020, New York City

Going to a conference we should know about? Reach out!

Want some private training at your company? Ask us!

In Your Ears

Would you rather listen to our content? Follow the Trust Insights show, In-Ear Insights in the podcast listening software of your choice:

Stay In Touch

Where do you spend your time online? Chances are, we’re there too, and would enjoy sharing with you. Here’s where we are – see you there?

Required FTC Disclosures

Events with links have purchased sponsorships in this newsletter and as a result, Trust Insights receives financial compensation for promoting them.

Trust Insights maintains business partnerships with companies including, but not limited to, IBM, Talkwalker, Zignal Labs, Agorapulse, and others. All Featured Partners are affiliate links for which we receive financial compensation. While links shared from partners are not explicit endorsements, nor do they directly financially benefit Trust Insights, a commercial relationship exists for which we may receive indirect financial benefit.

Conclusion

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