2019 was just really, really good. Here are some of the highlights.
- Low unemployment rates.
- Great wage growth across all levels of business.
- Record growth in the stock market.
Have there been some speed bumps? Of course there have been. None of us wanted to wage a tariff war with our biggest importer of goods that we can make high margin on. Amazon, Wayfair and our some of our multi-channel manufacturer partners continue to invest in online and create many hurdles for the traditional furniture store.
But, all in all, we saw steady growth across all of our markets with our client base without a drastic increase in expenditure to accomplish those feats. Margins continued to climb steadily, cash on hand is more available and it seems whatever holes existed from 2008 are almost filled up.
Typically, you would expect a singular vertical focused ad agency to take a lot of credit for this success. As the CEO, I am here to tell you we will not. It doesn’t mean that our collateral, strategy and content did help make the success that much better but everything in 2019 was set up to be good. We just made it great for our partners.
However, I am here to tell you that 2020 is not going to be as easy. We all know that even years are never good news (especially every four of them), and our good years coincided with big players having great years, which means they have money to spend.
Here is a recipe you need to make sure 2020 can be successful so that you don’t fall victim to the outside factors.