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March 10, 2010

Number of U.S. Millionaires, “Ultra High Net Worth Households” Soar in ‘09

Filed under: Economy — john @ 10:38 am

After a disappointing 2008, the number of U.S. households with a net worth of $1 million or more (not including primary residence) spiked 16% to 7.8 million in 2009, increasing from 6.7 million the year before. The findings were reported on March 9 in “Affluent Market Insights 2010,” a report released by Spectrem Group (www.spectrem.com), a Chicago-based consulting firm specializing in the affluent and retirement markets. The upswing comes on the heels of a 27% decline in the millionaire population in 2008.

Also trending upwards was the number of Ultra High Net Worth households, defined as those with a net worth of $5 million or more (not including primary residence), growing a remarkable 17% to 980,000 in 2009. More generally, the broader affluent population, those with a net worth of $500,000 or more, increased by a healthy 12% last year to 12.7 million.

“The nation’s millionaires – together with its Ultra High Net Worth households – are bouncing back from the recession. Following a sharp decline in 2008, both groups saw their numbers advance nicely in 2009, with the U.S. millionaire population rising to 7.8 million. While still well short of its all-time high of 9.2 million in 2007, this year’s growth in the millionaire population is nevertheless welcome news for an economy still working to recover,” said George H. Walper, Jr., President of Spectrem Group.

(The report is based on a surveys of 3,000 affluent households conducted throughout 2009, an online survey of 1,498 households with a net worth of $100,000 to $1 million fielded in July 2009, and online surveys of 1,089 households with a net worth of $1 million to $5 million and 523 households with a net worth of $5 million to $25 million conducted in November 2009.)

Source: www.spectrem.com

June 29, 2009

A Summer Intern’s Perspective

Filed under: Agency Life, Economy, Mentus Water Cooler — emily @ 1:35 pm

No matter how many lectures you attend, tests you take, or projects you complete, no college student can entirely understand what life in the “real world” will be like once you step off of a university’s campus. That is why we do summer internships. This is our opportunity to essentially test the waters and discover what we like and dislike about various career paths. We attempt to recall all of the material we have learned in school to use in the workplace. But we quickly realize this is not an accounting test where we must spit out equations. It is not a marketing exam where we must select A, B, C, or D. Instead, summer internships are all about the experience; this is something that simply cannot be replicated in the classroom.

This past spring, I completed my sophomore year at Emory University as a student in the Goizueta Undergraduate Business program. Upon reflection, I realized the classroom topics I found most intriguing were about appealing to and understanding people, whether consumers, businesses, or society in general. After combining my interests in people and business, I began researching Public Relations agencies in San Diego. I came across Mentus, contacted Joleen, and was thankfully offered the opportunity to be a summer intern.

As I began my internship, I was unsure of what to expect. Even working 9-5 was a foreign concept to me. During my first week after arriving home at 6pm I asked my dad, “so when do I have the time to workout?” He laughed and told me “welcome to the real world.” One of the aspects of Mentus that I have most enjoyed is the small, welcoming, and laid-back environment. As a brand new intern I was invited to sit in on meetings. When I was assigned a minor portion of a job, such as emailing press releases, the entire project was explained to me in detail. I learned to build media lists and search through editorial calendars, actions never discussed in class. I watched the scrutiny that visual vocabulary undergoes and saw brilliant ideas suddenly arise from a brainstorm meeting. I was delightfully reminded of my marketing material when positioning statements, target markets, and various frameworks were employed in a “real world” application. I finally witnessed B2B relationships that are constantly spoken of in business classes.

My biggest takeaway from the experience at Mentus is the value of personalized, well thought out plans for each client or potential client in the PR and marketing fields. The Mentus team discusses a client’s company as easily as they would discuss their own; it is clear they have done their research and know the specific needs of that company. The life science industry was a relatively unknown area for me, but at Mentus biotech jargon and current events are spoken of casually. If you want to conduct successful PR for a company, you must first know the ins and outs of its market. I was surprised by the time and energy that is necessary to pitch to a potential client. I quickly realized that in such a competitive environment, diligence created value.

I have been at Mentus for 6 weeks and have already reaffirmed my intuition about the importance of summer internships. Intern experience compliments classroom material. After getting a first hand look at this industry, I definitely have a better understanding of what I do and don’t like, which will inevitably help make my future choices easier. While my summer has made me more excited to go further into this field, I don’t mind being able to put off working from 9-5 for a few more years.

June 3, 2009

Everything Old is New Again

Filed under: Economy — joleen @ 3:39 pm

Maybe its just me, but it seems as though true product innovation has been temporarily replaced with a dusting off and dressing up of old or previously shelved products. This shifts a more onerous responsibility to the marketing effort. Research is key in this instance. You must determine if a market exists for the product and what unique spot you can carve out and dominant. The product must fill a unique AND desired need.

Next, the creative must work that much harder to attract attention and inspire further action. Lastly, the information must be conveyed in a means that is relevant to the audience. Trust that a fresh perspective, true creative and new media venues may be just what the doctor ordered for an ‘old’ product.

May 21, 2009

Challenging Times and the Current Economy

Filed under: Economy — audrey @ 3:44 pm

As the CFO at Mentus I’m not sure my writing skills make me the ideal blog participant but I’m a team player so here goes! Seems the current economic situation would be an appropriate topic for me to take on…

As the economy is taking its toll on all of our clients it is essential that we as an agency help them achieve results.  

The need to communicate clearly is even more important in these times. Research has shown companies that continue to spend money on communications, marketing and corporate branding come out of recessions as the industry leaders. 

I recently read an article (wish I could find it and paste it hear but I’ve read too many articles lately!) regarding how public companies that have chosen not to communicate during these times are actually hurting their stock value.  Investors think they are hiding something beyond the economic downturn.  People’s imagination usually goes to a worse case scenario that can be far beyond the company’s actual situation.

It is also interesting to note that companies that have cut back on their communications in economic downturns are more likely to double their spending when the economy turns around.

I think we are in a bottoming process of the downturn and can all look forward to less trying times.  Out of every economic downturn we see great creativity and the American entrepreneurial spirit take hold and succeed.

May 14, 2009

GoGreen

Filed under: Annual Reports, Economy, Environment — tracy @ 4:57 pm

In this economy a lot of companies are seeing red. Some are even feeling blue. We tend to see it as a good time to go green

In years past, going green with a company’s annual report often meant sacrificing quality and risking the perception the company was not doing well. Annual reports are changing. Good quality recycled paper is now available, new SEC requirements are defining what and how we communicate, the question becomes how can we put this change to work for you and your company?

It is easy to recognize that today’s annual reports are often overlooked or considered irrelevant. As such, companies are challenged to tell their story in a way that excites, informs, inspires action and breeds confidence. Although many companies rely on a 10-K wrap for this purpose, these can fall woefully short inspiring action and, in some cases, actually work to dissuade interested parties from investing in the first place.

We are helping companies to establish a new standard or approach to investor communications, one that is not limited by a static 10-K wrap format. Our GoGreen format delivers greater value to the stakeholder with the promise of a dynamic, updated dialogue with your investors. This value is amplified by GoGreen’s ease of content portability (readily shared, forwarded, and printed).

It’s been great to see our clients adopt GoGreen to varying degrees. We believe companies, whether public or not, are only a few years away from taking part in this new mobile communications generation. GoGreen can be the bridge to a new communications and investors vista.

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