Inflation Cools but Rates Go Up – What This Means for Marketing

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Careers, Business

4.6 • 1.4K Ratings

🗓️ 24 August 2023

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2543, we explore the intricacies of the economy, specifically the phenomenon of cooling inflation paired with rising interest rates. Join us as we dissect the potential implications of this economic situation on marketing. We unpack how changing interest rates affect consumer behavior, spending habits, and overall market dynamics. Gain valuable insights into the strategies marketers and businesses might need to consider to navigate these shifts successfully. Whether you're a seasoned marketer or a business owner, this episode offers crucial insights into the connections between macroeconomic trends and marketing strategies. Tune in to stay informed about the evolving economic landscape and its impact on marketing decisions. TIME-STAMPED SHOW NOTES: [00:00] Today’s topic: inflation cools but rates go up – what this means for marketing. [00:13] The current state of inflation and interest rates. [01:10] Overview of the impact of interest rates on marketing. [01:40] Our predictions of the ongoing interest rate trend. [02:30] Reasons to be optimistic about the future of marketing. [03:35] Strategies to expand your marketing reach in today's economy [04:38] That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Don’t forget to help us grow by subscribing and liking on YouTube! Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	All right, so inflation has cooled a little bit, but rates have gone up.
0:04.6	And we're going to talk about what that means for marketing, but Neil, you're better with remembering
0:07.9	numbers.
0:08.9	Do you remember what the recent numbers are?
0:10.3	This is recording as of July 30th by the way.
0:13.0	It was around 4% the last time I checked CNBC.
0:17.0	4.1%, right?
0:19.0	A foreign change, I think.
0:21.0	I don't know what the exact number was.
0:22.0	And then rates are the
0:23.4	since 2021 the rates at 5.25% now correct it's usually a range so it's like I don't
0:31.4	know what the exact rate is but it would be like 5.25 to 5.
0:35.2	Or the Fed funds rate I mean.
0:37.2	Yeah the feds fundraise is typically a range.
0:40.0	So it would be I don't know what the rate is but if it was 5.25 it would be, I don't know what the rate is, but if it was 5.25, it would be somewhere around like 5.25 to 5.5.
0:48.1	Okay. So for those of you that don't really follow this stuff, I mean we want to bring this up because all
0:53.6	interest rates affect the entire economy which affect marketing at the end of the day
0:57.6	and we kind of gave our predictions maybe I don't know tenish episodes ago or. I still think it's a 50-50 chance of recession,
1:04.4	but we're not here to predict the economy.
1:05.8	We're more so here to talk about what this means for marketing.
1:08.6	My take on this is that I think at least for the next quarter or two at minimum people are still going to be a little,
1:18.0	call it a little gun shy when it comes to marketing advertising in general.
	...

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