Storm clouds continue to gather over the global economy. With the latest quarterly UK GDP figures released on November 11 and the US and other parts of the world also bracing for a recession, this special recording of System1’s webinar dives into how brands can navigate tough times.However, tough times also bring opportunity. As the late great F1 driver Ayrton Senna once said, ‘You cannot overtake 15 cars in sunny weather… but you can when it’s raining.’In possibly the most comprehensive study of recession, Nitin Nohria found that 9% of companies come out of a recession in better shape than they went in.We're joined by Professor Mark Ritson, brand consultant and creator of the Mini MBA in Marketing, and Orlando Wood, author of IPA best-selling books Lemon and Look Out, to understand how brands should approach this challenging period.WATCH: The ad Orlando referenced: Hovis - Boy on a BikeWhat we covered in this episode:
Which brands won and lost during covid
Why the CEO expects the CMO to step up in a crisis
The 4 issues that hold businesses back in a crisis
Why marketers must do their market orientation and get their strategy in place first
The over-whelming evidence that supports investing in a recession
What happens when brands go dark and why small brands suffer most
How ESOV can be more achievable in recession and what it means for the long term
The very strong business case for investment
The role of operational efficiency and innovation to help come out strongly
How to get your pricing strategy and communication right
Whether you should be changing your communication
Inspiration from a campaign that is as good today as it was 50 years ago
How right brained creative features are connecting better in recession
Why wear out is a myth based on thousands of ads on the System1 database
What we can learn from the current Christmas Adverts
The role of character fluent devices to make your advert more memorable
Top 3 reasons to invest in creative right now
Top 3 ways to make creative emotionally engagement and effective
Mark and Orlando answer some tough questions
Why marketing professors don’t teach how marketing actually works