Twenty Useful Numbers for 2020 - Updated Post-Coronavirus

“Prediction is very difficult, especially if it’s about the future” - Niels Bohr

At the start of the year I shared twenty useful numbers for 2020, to provide some context for brand plans and business ambitions. Well, we now know that those numbers were arguably the least useful forecasts in economic history. So, with businesses across the world ripping up their marketing plans and reshaping themselves for a new world, here are those same twenty useful numbers, updated post coronavirus, together with the original predictions from January (shown as the figures in brackets).

Global Economic Growth

Predicted growth in the global economy:  -4.9% (+3.2%)

Predicted growth in the US:  -8% (+1.8%)

Predicted growth in India:  -4.5% (+6.3%)

Predicted growth in China:  +1% (+6%)

Predicted growth in Japan:  -5.8% (0%)

Predicted growth in Russia:  -6.6% (+1.7%)

Sources:  Latest figures from IMF World Economic Outlook Update, June 2020. Original predictions from Morgan Stanley Real GDP growth forecasts.

UK Key Economic Indicators

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Predicted economic growth in the UK:  -10.2% (+1.4%)

Predicted increase in UK wages:  +0.5%. (+2.5%)

Predicted increase in UK house prices:  -7.5% (+1%)

Predicted level of UK inflation:  +1.2% (2.1%)

Predicted level of UK unemployment:  8.6%. (4.1%)

Sources: See foot of article.

Adspend

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Predicted increase in global adspend:  -9.9% (+4.3%)

Predicted increase in total UK adspend:  -13% (+4.9%)

Predicted increase in digital UK adspend:  -8% (+11%)

Predicted increase in TV UK adspend:  -15% (0%)

Predicted increase in Outdoor UK adspend:  -35% (+5%)

Predicted increase in Cinema UK adspend:  -50% (+4.5%)

Predicted increase in Radio UK adspend:  -16% (+2%)

Predicted decrease in Print UK adspend:  -24% (-6%)

Estimate of % UK adspend to be spent online in 2020:  66%

Source:  GroupM

Sources for UK Key Economic Indicators

UK Economic Growth: Latest source: IMF World Economic Outlook Update. Original prediction from Morgan Stanley Real GDP growth forecasts.

Predicted increase in UK wages: Latest source HM Treasury. Forecast for the UK Economy. Comparison of Independent Forecasts. Original prediction from Korn Ferry Salary Forecast.

Predicted increase in UK house prices: Savills

Predicted level of UK inflation: Latest source: HM Treasury. Forecast for the UK Economy. Comparison of Independent Forecasts. Original source:  Consensus Forecasts, G7 & Western Europe.

Predicted level of UK unemployment:  Source: KPMG. UK Economic Outlook. June 2020. (Original source:  Focus Economics Panel)

How do you become a Non Exec Director (when you've never been a Non Exec Director)?

The best way to get a Non Executive Directorship is to have a strong track record of previous NEDS.  But how do you get the first one?  And what if you’re not yet sure life as a NED is for you, but would like to learn more?  If you’ve ever asked those questions, this piece is for you…

A year ago I received a message on LinkedIn from Heather White.  I didn’t know Heather at the time, but it was clear from her profile that she was phenomenally well connected and knew a lot about the world of Non Executive Directorships (NEDs).  It was a world I was keen to learn more about so we fixed to meet.

Heather explained the concept behind her Boardroom Ready programme.  Simply put, it connects individuals wanting to explore the world of NEDs (but who have not to date been active in that world) with companies who would welcome external input to their board meetings (but who are not ready to take on the legal formalities and remuneration requirements of appointing an official NED).

This sounded like a great development opportunity, so I took away four briefing documents to get an idea of the types of businesses Heather was working with.  One in particular stood out.  M2A Media, a client-facing business with some similarities to the creative agency world I knew well, but with a very different and highly technical product: live streaming events using public cloud technology.  I took a look at the M2A website and read the latest blog post:  Hybrid SSAI/DAI & Localisation in OTT Live Event Streaming.  There was no doubt I would learn a lot from getting to know M2A’s business, even if only what SSAI meant…

A week later I had an interview with the Chairman and so began my year on the M2A board.  It’s been a fascinating experience and I’ve learnt a huge amount from the founders, the Chairman, the other board members and from my coaching sessions with Heather.  I’ve made connections I’d never have met from within my own industry, through the networking opportunities the programme opened up, and when I set up my consulting business one of the first roles I took on was to join the board of another company, this time in a paid capacity.

There’s nothing more rewarding than applying your experience to help an organisation operating in a different sector to the one you know best.  M2A seem happy too – they’re looking to continue the programme and take on a new member of the board for the coming year. 

Alongside the live boardroom experience, the programme offers a host of other ways to learn about life as a NED, including partnerships and workshops with the NED Association.

There are so many people within my network that I know would thrive on this programme that I thought I’d share my experience of the last 12 months.  If you’d like to know more, feel free to ask any questions (my contact details are at the bottom of this page) and if this might be for you I will happily give you an introduction to Heather.