Ritson on Recession: what every marketer needs to know

14/11/2022 56 min Episodio 63
Ritson on Recession: what every marketer needs to know

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Episode Synopsis


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 covidWhy the CEO expects the CMO to step up in a crisisThe 4 issues that hold businesses back in a crisisWhy marketers must do their market orientation and get their strategy in place firstThe over-whelming evidence that supports investing in a recessionWhat happens when brands go dark and why small brands suffer mostHow ESOV can be more achievable in recession and what it means for the long termThe very strong business case for investmentThe role of operational efficiency and innovation to help come out stronglyHow to get your pricing strategy and communication rightWhether you should be changing your communicationInspiration from a campaign that is as good today as it was 50 years agoHow right brained creative features are connecting better in recessionWhy wear out is a myth based on thousands of ads on the System1 databaseWhat we can learn from the current Christmas AdvertsThe role of character fluent devices to make your advert more memorableTop 3 reasons to invest in creative right nowTop 3 ways to make creative emotionally engagement and effectiveMark and Orlando answer some tough questionsWhy marketing professors don’t teach how marketing actually works

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