Lars Voedisch, Founder and Managing Director of PRecious Communications was featured in Marketing Interactive’s ‘Opinion and Analysis’ section on December 16, 2019, in an article titled ‘We are here for 2020’: How independents are gearing up for the new year’. In this report, Marketing spoke to several independent agencies leads on how they are planning for 2020.
Here is Lars’ comment as featured in Marketing Magazine’s article ‘We are here for 2020’: How independents are gearing up for the new year.’
One of our biggest challenges will be to manage growth while increasing client servicing standards and people development standards. Nobody can foresee where the global economy is going but I strongly believe in the power and potential of Southeast Asia and that’s extremely exciting. We’re at the brink of the Southeast ASEAN decade! This means to stay focused and grow regional capabilities based on actual client demands and simply deliver excellence.
We are in the people business and have to refocus on really putting people first.
How can we empower our PRecious tribe to take risks and actively work with us on charting their professional growth path, sparking joy and curiosity and be brave enough to more often say ‘no’ to anything that we would only be able to do halfheartedly? We want to become more daring and encourage our staff and clients to become more bold, having a point of view and stand out by conviction.
Why Are We Talking About How Independents Are Gearing up for the New Year?
In August this year, the Ministry of Trade and Industry (MTI) announced that the GDP growth forecast for 2019 has been “downgraded” between 0% to 1%. This came amidst rising global trade tensions and given Singapore’s positioning in the global trade industry, it was no surprise then that the island was set to feel an impact.
But the hopefuls in us might see a little bit of sunlight behind the cloudy skies as according to MTI’s recent data, there is a slight uptick in Singapore’s economic growth for the third quarter. In a CNA article, economists echoed that Singapore’s economy has passed the worst and that growth should continue to slowly recover.
In numerous conversations that Marketing has had with agency heads, both network and independents, many said that given the cutback from businesses, agencies may begin to feel the pinch.