WPP’s Sir Martin Sorrell outlines 10-point keynote at IAA World Congress

12 May,2014

By a correspondent

 

With some of the powerful and influential names like Jim Elms, Global CEO, Initiative; Andrew Ward, Vice President Marketing, Etihad Airways; Ben Hughes, Deputy Chief Executive, Financial Times; Doug Pearce, CEO,OMG China; MykimChikli, CEO Zenith Optimedia China; Tim Andree,Executive Chairman, Dentsu Aegis Network etc gathered at the 43rd IAA World Congress in Beijing China, WPP’s Sir Martin Sorrell took the opportunity to present to the gathering his key-note address, which was more a ‘ten-point list’ on issues concerning the ad industry.

 

The points included: 

– Shift to East, South and East – meaning a potential shift in power in the world. The USA is still the center, but undeniably power is beginning to move. With a focus still on “BRICS and the next eleven”. WPPsees a G2 world in the future.

 

– Overcapacity and shortage of human capital – in key industries such as automotive there is massive capacity, but changing lifestyles, and aging populations.
– Rise and rise of the web – 12 years ago WPP’s web business was close to zero and now it is 30 per cent.

 

– Growth of retail power – and the changing relationship now between retailers and consumers as populations move to urban areas, with busy two earning families using the e-commerce more and more.

 

– Importance of internal communications – data – people talk about “data” and we are now applying more technology to data and its role in our organization’s communications.

 

– Global and local structures – WPP sees the rise of Africa -which represents significant opportunities with a dramatic shift in power taking place.

 

– Relative power of finance and procurement – the balance of marketing functions and finance is now very much out of balance, and this needs to be addressed- in all parts of the world. Not just the western economies.

 

– Growth of government – WPP has government clients in almost every country.They are more significant players than ever. In some parts of the world, such as China, there is also an element of “Government run capitalism”.

 

– The acceptance of social responsibility – the issue and attention towards sustain ability is considerable now. And for companies to “do good” is still”good” for business.

 

– Industry consolidation – this was a big news day with the announcement that the Publicis Groupe and Omnicom Group merger is not proceeding.

 

Post a Comment 

Comments are closed.