MAD//Fest Moments: Sir Martin Sorrell On Why Now Is The Time For Firms To Double Up, Not Double Down
01 Sep, 2022
In the first of a new MAD//Fest autumn video series, Sir Martin Sorrell explains why, despite the impending economic gloom, now is the time for everyone to embody the 2022 MAD//Fest theme, 'No Guts, No Glory.'
With economic uncertainty surrounding decision makers, now is the time for companies to be bold and daring, believes Sir Martin Sorrell.
Speaking at MAD//Fest London as part MAD//Fest’s ‘MAD//Fest Moments series’, Sir Martin said, “With the withdrawal of the Covid stimulus, war in Ukraine, rising interest rates, rising inflation, all resulting in a slowing down of the economy, now is the time to double up not double down.”
Explaining further, he argued that, “the data for those companies that invest during a recession, come out of it faster, and they do better, longer term… but if you don't have the guts to do that, you won't get the glory.”
In the MAD//Fest Moments interview he predicted that most firms will not be gutsy and therefore, will miss out on the glory. “I think human beings being what they are, and organisations being what they are, the likelihood is that people will pull in their horns. The economic uncertainty means that they’ll be more cautious.”
Ending on a pessimistic note, Sir Martin said that, “We've already started to see a little bit of it. Two things have started to happen, people have gone down the funnel into more activation… and that there's a little bit of delay creeping into the decision making.”
In the short interview he also gave us an insight into what he thinks the main marketing trends are at the moment and where the main opportunities lie. Watch the interview here
‘MAD//Fest Moments’ is a series in which prominent industry leaders share emerging trends, challenges and opportunities. Guests include Rachel Waller, Global VP Innovation, Burberry, Sarah Barron, CMO, Dominos, and Peter Zillig, Marketing Director, Ford (Europe). We’ll be covering these interviews across the Autumn in MAD//Insight.