Euro Shock" survey: Michael Hählen
Werbewoche survey on economic developments following the «euro shock» and its impact on the communications and advertising industries: Michael Hählen, CEO and Partner, In Flagranti Communication
Unlike in the currency crisis of 2010/2011, many companies are reacting quickly and strongly to the removal of the Swiss franc peg to the euro. Even if it is still too early to take stock: Cost reductions will first show up in the export-oriented industry and then in all budgets of customers, the media and agencies. In my opinion, anyone who feels safe in the inland port is wrong. Ultimately, every company faces international competition, directly or indirectly. And that includes media and agencies.
In marketing communications, I expect to see a shift from image-oriented measures to those focused on sales, efficiency and effectiveness, such as dialog marketing, POS measures and online media. Because times of crisis are always drivers of innovation and therefore also offer opportunities, I see an acceleration in digital transformation - from product development to marketing. It is also likely that technology-based marketing automation in brand and content management, publishing and collaboration will accelerate."
