Will Mark Read Refocus WPP to Make the Most of its Core Assets?

WPP is a complex business made up of overlapping and even conflicting companies built at a time when client requirements from their marketing service partners was in a very different placeamp160 Back then size was everything hence GroupM amp160The prevailing belief was based on the famous assertion that amp8220no one got fired for hiring IBMamp8221amp160 Most boards knew nothing of communication channels for appearing on not consuming research boring but worthy marketing pink fluffy and unaccountable advertising pink fluffy unaccountable and expensive online incomprehensible or social media something to do with the grandkidsCourtesy of Sorrell the whole industry became more important more serious and worth being part of the conversation if not understoodamp160 Just think back to a time when the face of advertising was either someone faceless and American or Charles Saatchi amp160It may have been better or worse back then take your pick but it was certainly different and it was WPP and in particular Martin Sorrell who drove the changeNow we are where we are with WPP facing client defections their media operations losing competitively to in particular but not exclusively Omnicom and with several important longterm figures retiring or leavingFurthermore the complicated threedimensional chess game of handling client businesses across multiple opcos covering diversified disciplines whilst managing individual PampampLs amp8220horizontalityamp8221 as Sir Martin had it hasnamp8217t really workedHowever underpinning everything is the fact that WPP still has multiple sizeable assets amp160Sure some may not be as central as all that to any kind of common aim and some have already been divested with no doubt more to come but the group is still mightily impressiveEveryone knows that the industry is changing and continues to change Everyone knows that marketers need help navigating the change and thus putting themselves in a position to take advantage of all the opportunities out there both today and emerging in the futureIt stands to reason that what is needed is to refocus WPP on how to make the most of its core assets to serve their clients better over this time of change Which is a huge strategic questionAs I said up top I donamp8217t know Mark Read but the one thing I do know about him is his reputation as a brilliant strategist amp160Heamp8217s an insider who understands a complicated business which will save a lot of time at just the moment when the business doesnamp8217t have much time to wasteHe seems a great choice who ticks all the boxes amp160I bet heamp8217ll be relieved to receive an endorsement from still someone else heamp8217s never heard ofPhoto credit Werner du PlessisUnsplashClick the social buttons above or below to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writersamp160amp160amp160

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Will Mark Read Refocus WPP to Make the Most of its Core Assets?

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Brian Jacobs

FEMA and the Ad Council Encourage AANHPI Communities to Enhance Disaster Preparedness in New PSAs - Ad Council InSites

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Will Mark Read Refocus WPP to Make the Most of its Core Assets?

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