Euro Shock" survey: Mike Brodbeck
Werbewoche survey on economic development after the "Euro Shock" and its impact on the communications and advertising industry: Mike Brodbeck, Managing Partner, Polyconsult
The SNB's decision has the short-term effect that many companies will have to revise their budgets for 2015. Sales will be lower in export-oriented sectors. Accordingly, variable costs will have to be cut for the current year. Since communication tasks are, willy-nilly, among the variable costs, some are cutting back here. Image-promoting measures are more likely to be affected. Sales promotion activities will be maintained or even expanded. The classic channels - and here above all print - will have to accept significantly more losses. Online, direct mail and, above all, promotional activities will tend to increase - the first Eurobonus campaigns are already hailing here. In the longer term, however, there will be a correction here once companies have adjusted to the new currency situation.
