Edition #2 - Embracing chaos after startup redundancy

I’m starting the year (2024) in the most cliche fashion, by looking for a new job or freelance consulting gig. Not by choice… I was made redundant.

While I won’t go into the details simply out of respect for the team, I'll give you a clue. 

A VC-backed startup’s ongoing business operations are at the mercy of two things:

1. If the startup continues to get funded by said VC (or VCs) or investors.

2. If the startup’s cash reserves are enough to last the winters of getting delayed funding (unfortunately for me, my job only lasted 10 months due to both)

To be fair, 2023 was challenging in general:

• Startup (especially tech-based ones, excluding AI startups) funding was drier than usual (Source: Techcrunch)

• The gig economy and project-based gigs lessened (Source: Website Planet)

• Demand for freelancers, especially marketers, was drastically down. At least in comparison to 2022 (when I was heavily into freelancing)

• I saw a lot of my freelance network go back into FT jobs for being concerned about income loss.

But don’t worry, this is not a pity party, I’m optimistic about 2024. I’m even starting to get 2nd-to-late-stage interviews for FT and freelance gigs. Plus, with inflation rates slightly more controlled (at least in the UK), many companies are posting more roles compared to Q2 of 2023, and companies are more bullish with the support of AI.

All in all, I’m still a big advocate that one must have multiple gigs and projects to build a strong foundation for wealth and income (if you get my drift). Job security doesn’t exist and everything is a risk either way. 

Just look at the recent layoff at Pitch… with ⅔ of its employees getting slashed off the payroll just like that, I can sympathise (Source: Sifted). It’s just the nature of economics. What is up must come down, and vice versa. So keep calm and carry on.

More Marketing Jobs, Opportunities and Productivity, thanks to AI and Capitalism

There’s a consensus that AI will deliver a massive expansion in the economy. AI will massively help support the creation of new products and services for businesses that yield to it. It has personally increased my rate of learning, productivity, and output. Businesses will echo this in their output of things to sell, in which we marketers have to help them market. Thank you Capitalism! (Source: CNBC). 

Hopefully more marketing jobs right? 

On another note, if you’re a marketer not utilising tools like chatGPT, I urge you to. My personal use case for it is endless, including marketing planning and strategies, ideations of all sorts, learning with analogies, and researching for consulting purposes, to name but a few. 

Even academics and professionals are using it to boost productivity, from creative writing to coding and management consulting (Source: Business Insider). If you can increase your output as a marketer, the possibilities are endless. In theory, you should never get stuck on an idea in 2024. 

Just to keep it neutral and practical, I still recommend upskilling as a marketer as much as possible. AI will reveal the true winners of tomorrow whether you like it or not. Apart from Futurist Marketers, I’d take a peek at platforms such as CXL, Growth Tribe and Reforge for further education in marketing and the digital landscape. I’ve interacted with their resources and I highly recommend them.

Want to learn to research as a marketer to better understand your business vertical? Let me show you how to in 8 practical ways. Watch my latest video on the topic below.

Compare CPI and IPM (Q4 Report)

Singular just released its 2023 quarterly report (Q4) on all things app marketing and user acquisition. Topline stats:

• There are over 8.58 billion mobile phone subscriptions

• 300 million used smartphones will be sold in 2023 (used phones aren’t all that bad)

• People spent $135 billion in annual in-app purchases (people do like to spend eh?)

• Music and app games have higher ATT opt-in rates across different categories

• Brands and advertisers spent $446 billion in annual spending (thank God I specialised in Performance Marketing)

• Android: Games Global CPI: ($0.61) | Non-gaming Global CPI: ($0.50)

• iOS: Games Global CPI: ($2.23) | Non-gaming Global CPI: ($0.70)

Download the report HERE