Marketers have moved from cost-cutting to brand-building, says Sir Martin Sorrell
Sir Martin Sorrell, the chief executive of WPP, says the marketing services company has registered its fastest quarterly growth for almost a decade.
Speaking at the World Retail Conference yesterday (26 October), Sir Martin says revenue in the three months to 30 September was boosted by changing attitudes among clients.
“2009 was about survival but 2010 is about top-line growth,” he says.
He adds that the shift is reflected by increased spending on traditional media over digital channels.
“There’s a view that online is more about price promotion, traditional more about brand-building. It may be one of the reasons why traditional has come back a bit.”
Speaking ahead of the company’s third quarter results on Friday (29 October), Sir Martin says revenue has “pretty much” returned to pre-recession 2008 levels.
Organic sales grew by 4% in the first nine months of the year, he says.
WPP’s improved performance follows gain made my rivals Omnicom and Havas.
