A good early indicator of which way the economy is trending may be found in marketing budgets. And many early indicators point to a growth trajectory, according to Dan O’donnell, president of Odonnell Co. His Chapel Street marketing firm is growing at what he calls “a good speed” right now and he reports a solid 2011.
Pictured: Barneys' 'Gaga Workshop' microsite, created with a major assist from New Haven's Digital Surgeons.
“Marketing tends to be an early economy indicator — the first budget companies cut in a downturn, and one of the first things that companies start spending on when the economy starts to recover,” he says. “Our growth is likely an early indication that the economy is starting to recover.” Odonnell has found growth in a very specific niche. The company works with leading corporate and public-benefit clients throughout the Northeast promoting their clients’ products and services. For the past few years, Odonnell Co. has been charged with promoting transportation alternatives in Washington, D.C., the metropolitan area that boasts the dubious distinction of having the nation’s worst traffic congestion.