Marketing Strategy and Macroeconomics – Can They Intersect?
More and more I am convinced that they do, and always have.
As marketers, we are trained to know our business objectives, identify our target audiences, set SMART goals, execute, then test and refine. And for those of us who understand our business, our customers, our competitors and our industry, I’d say we’re doing well, thank you very much.
Imagine if you not only understood your industry landscape, but the national and even global (gasp!) economic landscape.
How much more of a competitive advantage do you think you could carve out if you had, through the miracle of macroeconomic study, something of a crystal ball into the economic future?
- Funding Markets
- Credit Markets
- Monetary Stimulus
- Fiscal Stimulus
- Currency Strength & Weakness
- Economic Psychology & Behavior
Let’s face it, a thick book on these topics is just what the doctor ordered if you have a bad case of insomnia.
But if you enjoy it, or know someone who does, this can significantly expand your view of your business and marketing not only for the near-term in your industry, but for the longer term across a wider market.
As a decades-long digital marketer, diving deep into macroeconomics was a bit like the scene where Dorothy steps out of her small sepia-toned house in the magical Technicolor Oz. I’ve been an internet marketer since Amazon went public, and have been interested in economics for about half that time. Diving deep into macroeconomics was like getting peanut butter on my chocolate — “Two great tastes that taste great together.”
Suddenly the landscape just made more sense, because there was even MORE data to inform planning, strategy, and tactics.
If you are curious about how the lens of macroeconomics can make your business stronger, please feel free to reach out.