Absolute must? Double the value, halve the budget.
In this episode of Kanaal Z's miniseries 'Never Waste a Good Crisis' we’re talking to Klaus Lommatzsch about engaged entrepreneurship. He is one of two co-founders of Duval Union, a group of 80+ experts spread over 12 companies active in marketing, communication, design and data. The Duval Union group is committed to expertise and entrepreneurship. Watch the video below (Dutch only) if you want to know more about the mission and approach of the Duval Union ecosystem.
Complex world
In today's world, marketing and marketing communication have become so complex. For a marketer it's a real challenge which expertise he or she needs at every moment of every day. The Duval Union Group helps companies and brands in the search for the right expert at the right time throughout the entire process. They are entrepreneurs themselves, which means they know and mean business. Other entrepreneurs are often the best source of business advice.
According to Klaus, companies that continue to communicate will be the winners of this crisis. The big paradox is that on the one hand we can notice that media are being consumed very strongly and at the same time a lot of advertisers withdraw their budgets, which results in media space getting cheaper. So at this particular moment you can get a bigger share of voice with the same or even less budget. To throw yourself onto the digital market you will definitely need data and technology.
We can witness a gigantic digital acceleration, which is actually a positive development as people are looking for their entertainment online. Companies need to respond to this demand by interpreting and using their technology and data correctly. “You have to improve your topline to get value out of that split euro.”- says Klaus. Then it all boils down to budget, because in the end it's all about the money...
Sensitive advice
First of all, keep communicating with your customers, cherish your customer relationships. Secondly: make sure you sharpen your digital strategy and digital execution. Finally, make sure you have the right technology and the right data. In the long run, Klaus would advise many companies to think about the know-why. A lot of companies in Belgium have an incredible know-how but haven’t thought enough about their relevance in the lives of their customers. Your why can be a real superpower, one you can act on!
Don't miss out: find the entire 'Never Waste a Good Crisis' series here:
- MMBSY – Crisis plus creativity equals opportunity
- Business analytics: Data as a base for decision-making?
- Duval Union Innovative Marketing – A fully digital version of your company in 72 hours
