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Point eight of Econsultancy's Modern Marketing Manifesto (#MoMaMa) regards creative.
Last month, Nesta published its 'Manifesto for the Creative Economy', so let's take a look through this impressive publication and see where Nesta thinks we're at.
It can be easy to forget that at this time four years ago, the future of the global economy was in limbo. Financial markets around the world were in chaos and the specter of a global depression was being taken seriously.
Today, the internet economy is booming and retailers are expressing optimism for the holiday shopping season.
But under the surface, there is growing concern. As AdAge points out, if you take away all of the advertising activity around the Olympics and the United States election cycle, ad sales have been softer this year. And now advertisers have a new worry: the Fiscal Cliff.
If you're avid reader of blogs like this one, chances are you can't go a day without hearing of a new startup that is seeking to revolutionize an industry, that just raised a round of funding, or that was acquired by a major company.
The global economic outlook may be uncertain, but startups are thriving. Or at least so it appears.
Just a few years ago, even the best internet companies would have found it hard to go public. With the global economy faltering, the word 'IPO' wasn't on anybody's mind.
Times are different today. The global economy is still a source of many concerns, but the stock markets are currently shrugging those concerns off and giving the top tech companies an opportunity to sell their shares to the public.
The shifting digital economy is something I've written about in depth previously, with the main focus of my thoughts being the BRIC countries and other parts of Asia.
Recently, though, I'm seeing growing evidence pointing towards the fact that Australia should probably be given an equal amount of due care and attention as these other countries in the coming few years, by marketers both inside and outside the country.
In 2008, the world nearly ended as the global economy experienced its worst downturn in decades. The 'recovery' hasn't exactly been easy, but those of us in the digital economy have been lucky as technology and online industries have thrived.
Increasingly, however, economists are voicing concern that the global economy is on the precipice again. Yes, these are some of the same economists who missed the signs that the global economy was on the brink of collapse several years ago, but nonetheless, the warning signs are hard to miss.
I’ve previously written about the enormous 95% growth the Chinese e-commerce market has had in the last eighteen months, but online shopping aside, I feel that this will extend further into advertising and marketing, as well as the associated technologies.
China is a difficult market to currently crack for international businesses, but a shift appears to be happening, driven largely by e-commerce.
In association with Toluna, Econsultancy has carried out a survey of online consumer behaviour in the region to try to understand this further.
It's no coincidence that the rise of social media has coincided with the abrupt end of America's thirty year consumer binge.
Less than a year ago, it would have been hard to imagine that Google would be trudging along, eking out bottom line growth primarily by cutting expenses. And it would have been hard for some to believe that the hottest startups would seemingly be no closer to solving their monetization questions.
The reality: the internet economy is a lot like the rest of the global economy.
I was chatting with a friend who lives in the United States recently. He's a freelance web developer and we were discussing the state of the market.
An interesting topic came up: the number of companies seeking services on a spec work and unpaid internship basis.
Everybody knows that it's tough out there. There are glimmers of hope but the global recession marches onward.
One thing that hasn't been so clear: just how bad (or not-so-bad) the situation is.