Advertising needs its own Resilience Road in recession
With the rare combination of ‘stagflation’ looming on the horizon, any marketer or agency worth their salt should be preparing their version of Resilience Road for the recessionary pressures that will challenge us over the next 12-24 months, writes Daniel Machen, head of strategy at Lionize.
Like Suncorp’s brilliant disaster proof house, that deservedly won the Innovation Grand Prix Lion in Cannes, advertising needs to build on that idea to ready our own Resilience Road amidst the perfect storm of geo-political and socio-economic shockers that will undoubtedly pile pressure on marketing budgets.
The key is striking a fair balance between the boom of only investing in future brand growth, or the bust of shifting solely into performance marketing. (The fiscal equivalent of ‘save what you can’ – with short term gain, not mitigating long-term pain.)
Well stated — we need to stop freaking out about reacting to market changes we should have anticipated long ago and strategise ahead.
Thanks for sharing.