AI is just one of a number of innovative technologies that are available. Every time something new appears there is a potential threat. But as an outsourced graphic design consultancy, rarely do our customers want to wax lyrical about software programmes and modern technologies. Instead they expect us to have done the due diligence and use the best software for their project without them having to be involved.

I can safely say that the current and future threats to our business are more likely to be financial. The current cost of living crisis is a prime example of the financial constraints that clients are imposing upon their suppliers with marketing budgets and associated plans being cut. Of course I disagree with this approach. Marketing is an investment. If you turn the tap off, over time you won’t get the results. My advice has always been to change your marketing rather than abandoning it completely. For example, concentrate on the marketing activities that are the lowest cost for the greatest potential return and prioritise them. In situations like these, I am however, always reminded of cereal producer Kellogg.

In the late nineteen-twenties, two companies - Kellogg and Post - dominated the market for packaged cereal. With Post being the market leader. But then along came The Great Depression. Given that no one knew what would happen to consumer demand, bold decisions were made. Post cut costs and scaled back on advertising. But Kellogg did the opposite, doubling its advertising budget and moving aggressively into radio advertising, in order to push its cereal. And when the time came when people could afford cereal again… Kellogg was the only brand in town. The lesson here is that whilst some businesses prefer to hunker down and wait it out, the more successful ones will continue to market hoping that people will remember them in the future.