The signs for recession are here: Consumers and corporations alike are already tightening their budgets, economic growth has slowed, stock markets have tumbled in 2022 and inflation continues to remain high due to global conflicts, disrupted supply chains and elevated gas prices. The 4A’s invited Adweek to a lunch with CEOs across the industry landscape to talk about some of the most pressing topics in the industry, but how to navigate a recession as an agency leader dominated the first third of the 75-minute conversation.
WI CEO Aaron Walton told Adweek that clients are more open to innovative thinking to find new ways to reach consumers when budgets are tighter.
“What we did last year doesn’t matter anymore,” Walton said. “It’s about how we’re going to do it in the future.”
Walton’s focus is on how to work with clients to evolve with their consumers and the changing landscape.
He added that agencies must reinforce using data that their growth came from diverse segments, and therefore they should continue investing in those segments. “The world is changing. And these brands have to change with it or get left behind. There is going to be some competitor that sees that and says ‘I’m going to invest in that and I’m going to do it long term.’”
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