Speaking at The Growth Faculty’s Global Leadership Series in Sydney, Sir Martin Sorrell discussed nine key factors impacting the marcomms industry.

1. Shift to Digital
Balance of power shifting from traditional media to digital media with the hyper-targeting and measurability it brings

2. Over capacity
Excess competition, staff and supply in every industry means there is a greater need for brands to differentiate themselves through marketing

3. The Web
Technology companies have become more attractive to skilled employees in this over-capacity environment

4. The squeeze of Retail
High competition means low pricing power with consumers, which puts more pressure on suppliers and hence reduced marketing budgets

5. Global-Local will replace Regional
It’s unrealistic for a global organisation to run its marketing activity centrally, there is a need for local marketers to do what’s right in each market

6. Internal communications
Defining the organisational mission internally will mean that employees are on-side and communicating externally in the right language

7. Diminished focus on marketing
Clients putting more importance on finance and procurement than marketing, which is a mistake

8. Increased role of Government
Government’s influence increasing as both a client and regulator over the next decade

9. Corporate Social Responsibility
A move away from lip-service to putting it front and centre of client communications (“doing good is good business”)

http://www.adnews.com.au/news/adnews-tv-sir-martin-sorrell-talks-digital-emerging-markets-and-change