Marketers love to talk about creativity, channels, data, and campaigns. Yet the biggest forces shaping marketing today are often ignored. They are not the latest adtech tool or a new social media platform. They are the macroeconomic and geopolitical shifts that change the very foundations of business. Ian Whittaker, twice named City AM’s Analyst of the Year, argues that marketers and media leaders risk missing the bigger picture. His message is clear: if you do not understand what is in the minds of the CEO and CFO, you will not understand how marketing fits into the business equation. And right now, geopolitics and inflation are two of the most important drivers.
1. Geopolitics: Beyond the Presidency
It is easy to look at the upcoming US election and frame it as four years of Trump versus four years of someone else. Ian points out that this is far too narrow a view. The political map suggests that Republican administrations could dominate for a decade or more. Why should marketers care? Because political choices ripple through global markets. Trade policies, tariffs, and customs rules shape the flow of goods and therefore shape advertising spend. For instance, the US clampdown on cheap Chinese imports has already forced sellers on platforms such as Shein and Temu to shift their focus towards Europe. That means more Chinese advertising spend being redirected from the US into Western markets. The lesson is simple. When political winds change, so do the flows of capital and advertising. Marketers who ignore this context risk being blindsided by sudden shifts in budget priorities or consumer access.
2. Inflation: The New Normal
For more than a decade, inflation barely registered. From the early 2000s until 2020, rates in many Western economies hovered close to zero. That world has gone. Today we live in an era where 2 to 3 percent inflation is the baseline. At first glance, that may seem modest. But compound it over years and it has profound consequences. Consumers have already endured two years of sharp price increases. Many feel squeezed and are more cautious with spending. Yet businesses still face rising costs and will need to pass them on. The challenge is how to continue raising prices without breaking consumer trust. Here lies Ian’s key insight: the strength of a brand is what enables companies to push through price increases successfully. During the recent inflation surge, firms across industries reported in their earnings calls that it was their brand equity that allowed them to charge more without losing customers.
3. Why Brand Strength is the Ultimate Buffer
Think of brand as an insurance policy in times of uncertainty. When inflation bites, or when political shifts create new headwinds, consumers will still pay more for a brand they trust. That is why some of the world’s largest companies, from consumer goods giants to tech firms, have doubled down on brand advertising even while cutting costs elsewhere. Brand advertising is not a “nice to have.” It is the mechanism that creates resilience when external forces apply pressure. It gives businesses the ability to maintain margins, reassure investors, and sustain growth.
4. What Marketers Should Do Next
So how can marketers translate these macro forces into practical action? Understand the wider context. Pay attention to politics, trade policies, and global economic shifts. These will shape both consumer behaviour and where budgets flow. Speak the language of finance. CEOs and CFOs think in terms of profitability, margins, and investor expectations. Marketers must connect brand investment directly to these outcomes. Prioritise brand building. In a world of persistent inflation, strong brands are the only way to pass through price increases. They are also the most reliable defence against cutbacks when financial pressure rises. Balance short term with long term. Performance marketing delivers quick wins, but brand advertising builds the resilience that businesses need to withstand inflation and geopolitical turbulence.
Final Word
Geopolitics and inflation may feel distant from day-to-day marketing campaigns, but they are the forces shaping the environment in which all campaigns live. Marketers who learn to see the bigger picture will not only future-proof their budgets, they will also earn the trust of the CFO. The real takeaway is this: brand strength is not just about consumer love. It is a financial superpower that keeps businesses profitable in turbulent times.
