We at The Starr Conspiracy hope you had a restful weekend this Labor Day. If you’re seeing what we’re seeing, you’ll need it this fall.
We’re talking to many brands that are going to invest heavily in marketing between now and the end of the year. That’s not just in categories doing well, like learning, well-being, and communication. It’s in every category. Even in talent acquisition — which has been pummeled this year — we’ve talked to brands that are seeing revenue up 25% to 30% in 2020.
The next four months are an unprecedented opportunity for Work Tech brands. What happens between now and the end of 2020 will reshuffle the deck in many Work Tech categories. We’ve seen this before in the Great Financial Crisis (GFC).
Cornerstone OnDemand is a great case study. In 2008, they had one-fifth the revenue of their key competitor, Saba. By 2012, the two companies were tied at $120 million in revenue. Cornerstone did it by investing in sales and marketing in 2009 — a 49% increase in real dollars. The result? They saw their YOY revenue increase 49% in 2009 and 59% in 2010. They laid the groundwork to go public and become a billion-dollar company.
Just like in the GFC, the brands investing in marketing now will skyrocket in the years ahead. How do you want your brand to be remembered? Now is the time for courage and action.
For Work Tech, it’s time to W.O.R.K.:
- Wake Up. The time for caution is over. It’s time to act.
- Own Up. You can make an impact. Are you up to the challenge?
- Ramp Up. Seize the opportunity. Legends will be made this fall. So will cautionary tales.
- Keep It Up. Sustain your momentum. You need more than a one-and-done campaign.
If you need a partner, The Starr Conspiracy can help. We’ve been here before.