Now the recession is officially here, it will be interesting to see how advertising agencies respond.
Over in my training micro-business I have tried to anticipate a surge in internal training at agencies.
My guess is with training budgets slashed (at the moment, i gather that all WPP agencies have their training budgets frozen for the rest of 2008 and for 2009) a lot will see if they can replace some of the expensive external training courses by "bringing it in house".
My hope is that they might seek some help in doing this and indeed may want to invest what little money they have in "training the trainers". And so I am now marketing a course, first piloted with Ogilvy this spring, with the IPA.
You can read the blurb at the IPA site here.
To use the old metaphor, I hope they will wisely think "if we're not going to be able to buy fish in 2009 maybe we should invest in some fishing rods now".
The theory is fine but it remains to be seen how this works out in practice. Watch this space.
Perhaps I should send a Fishing Rod to Sir Martin Sorrell as a promotional item.