Sorrell believed that the way the marketing and advertising industries work has changed and those that think things will return to the way they were in 2008 are 'deluded'.
‘The overall share of traditional areas such as television, radio, newspapers, magazines, outdoor and cinema has declined – in favour of consumer insight, PR and public affairs, branding and identity, healthcare, and specialist communications (which embraces direct, interactive and internet).'
Sorrell’s comments form part of a one-off supplement to commemorate the 10th anniversary of the IPA BDO Bellwether Report, released today. The commentaries from leading ad agency and business practitioners discuss how the marketing industry must adapt to a rapidly changing world, as well as the importance of the Bellwether survey, and what the shape of the UK and global economy will be.
In his essay, Sorrell pointed to clients' demands for a more integrated approach.
‘Clients want more for the same money and that often means integrated solutions. Different specialities must be brought to bear coherently on a campaign. More and more clients are asking us to put together bespoke teams from across WPP, drawing the best talent from the group’s many renowned company brands.’
He also added that people in the US and Western Europe should take on more responsibly: ‘Some companies still treat corporate responsibility as an optional extra, a bit of icing on the capitalist cake. It is not. Doing good is good business.’
Other contributors to the essays include:
-Chris Williamson, chief economist at Markit and author of the Bellwether Report
-Helen Alexander, CBE, president of the Confederation of British Industry
-Lorna Tilbian, executive director and head of media research, Numis Securities
-Mark Fagan, digital media director, Golley Slater