Yes we can. But I guess we'll have to see.
It can’t go without saying, the enthusiasm around the new American president is astonishing. I almost feel sorry for poor old G.W. because as John Stewart said “he’s so oblivious he probably thought Barack was talking about Clinton”. Although the impact of Obama’s new policies is yet to be seen, several indicators show a reemergence of economic signposts of success. Let’s take a look at what really happened yesterday.
With great admiration comes great responsibility.
It is estimated that although the crowd attending the Obama inauguration might have been thinner than it’s full potential due to frigid weather conditions, media coverage and viewership was through the roof. With steep drops in advertising spend going into the winter holidays, January needed to start off strong, and so it did.
Forget the media hype about cellular towers and data capabilities being crippled throughout Washington DC for a minute, and think large-scale. The majority of the population within the continental United States were watching from work on Tuesday January 20th, with millions more looking on around the world. Many of us – especially Canadians – tuned into news outlets in groves that covered the events live through streaming video.
News has it figured out.
Monetization of the live event was phenomenal, and advertiser mix seemed to differ greatly between television and online channels, no matter what provider you chose for streaming video. In Canada, we’re somewhat limited by the channels we could watch because of geographical limitations enforced by the Canadian Radio and Telecommunications Commission (CRTC), but my feeling is that the world tuned in en masse to see an impressive display of strategic influence and motivation.
Wag the dog.
Sometimes all that’s needed is a little motivation for big change. I, for one, hope that Obama can live up to the hype, but even if he doesn’t turn out to be the savior the world is looking for, the economy already looks to be healing itself.
Change has already begun.
Economic figures show widespread unemployment, cost-cutting, and corporate restructuring. But did anyone truly believe the bloated industries that are experiencing the worst cuts wouldn’t have to course correct at some point? Why business analysts never look to innovation as a lifeline is beyond me. It could be argued the same companies and businesses that are trimming operations or going out of business are the same that haven’t changed with the times.
Barack stated as much in his speech. There is a fundamental gap between how business should be run, and how it was allowed to deteriorate in recent years. Actions speak louder than words. Personally, I don’t think bailouts are the answer. A government bailout is pretty much amounts to rewarding failure in the hopes that a kind deed spurs growth and innovation in the future. Fat chance. How about performance-based tax credits for domestic companies (not just established industry lobbies) that bring jobs back to North America?
I digress.
Change has already occurred without Barack, and signs of an improving economy are evident. Companies that feel the tide are starting now, when times seem bleek. Truly innovative companies are modernizing operations to jump on digital technologies that are becoming cheaper and more widespread. This goes well beyond pay-per-click marketing, but it will certainly have it’s own place in the change.
