M&M Global tuned in to Omnicom’s fourth quarter 2014 results presentation, and picked out the most interesting comments from the company’s chief executive John Wren.

John Wren on economic trends…

“Recent declines in oil and commodity prices are helping the consumer and many industries and countries. At this point, the US economy looks to be the biggest beneficiary of these changes, with the decline in oil prices likely being additive to US GDP in 2015.

“When you move from the US to the global economy, we’re seeing a divergence for the first time in central bank policies and actions. Central banks from Australia to Europe to Canada have been lowering borrowing costs to try to kick start growth in their economies. As a result, their currencies have declined versus the US dollar.

“At Omnicom, a little over 46% of our revenues are generated outside the US. The significant change in exchange rates resulted in a 3.1% reduction in our revenue in the fourth quarter, and will impact our reported results in 2015.”

On talent…

“We are attracting, retaining and developing top talent, expanding our capabilities in both new markets and new service areas, building our digital data and analytical capabilities by investing in our agencies and partnering with innovative technology companies, and delivering big ideas, based upon meaningful consumer insights, across all of the channels that we operate.

“Our ability to stay on top or ahead of the changes in our industry comes down to having talented people at all levels of the organisation. Simply put, we have the best talent in the business, which is why we win more than our fair share of the industry’s recognition, awards and business.”

On technology…

“Our industry is becoming increasingly complex, and our clients are looking to us for ways to navigate this rapidly changing landscape.

“2014, more than any year I can remember, was the year that we truly saw the convergence of technology, creativity and media change the way our agencies operate. Technology is providing the tools, and we are providing the brains, to deliver actionable consumer insights, develop better ways to target consumers, and then reaching them across many different disciplines and media, to give Omnicom clients the best possible solution.

“As part of our partnership deals with tech companies, our creative talent is working side by side with engineers from Facebook, Google, Instagram, Twitter and others, and the net result is increasing innovative solutions for our clients.”

On its Facebook partnership…

“Our relationship with Facebook has been outstanding. They’ve given us a great deal of resources associated with the projects we’re working on together, and the relationship between Omnicom, Analex and Facebook is very strong. They’re good partners.”

On client confidence…

“What we’ve seen to date is the budgets are similar to the budgets of 2014, with growth in a few categories. I think the other dynamic that’s occurring is, as channels are developed, and you can utilise them, and you measure a better ROI on them, you’ll see a shift in the dollars.

“And for others, there’s that money shifted from different channels of media, it will seem like there’s a lack of growth. So, overall, I think budgets are growing consistent with GDP growth in most markets.”