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From Volatility to Velocity: Delivering Marketing-Led Growth in Uncertain Times

Executive Perspectives

Mark Mulhern Managing Director

For marketing leaders, 2025 has certainly confirmed the adage that “change is the only constant.” Economic instability, declining business and consumer sentiment, geopolitical shocks, and rapid advances in AI have each impacted the operating environment for businesses and brands.

Amidst all the change, expectations of marketing haven’t relaxed. They’ve intensified.

In response, many marketing organizations default to a familiar playbook: cut budgets, increase retargeting, more personalization, more tactical output. Dashboards light up. Efficiency rises. But in the background, reach shrinks, distinctiveness fades, and brand strength quietly deteriorates.

It doesn’t have to. Volatility, for all its pressure, brings clarity. It forces a return to fundamentals: aligning with enterprise goals, focusing on creative that drives outcomes, and deploying spend with purpose. In uncertain conditions, discipline is a competitive advantage.

And so is velocity. Speed alone is insufficient. You need velocity: speed with direction, the ability to move quickly and intentionally toward what matters most.

In this environment, marketing’s role as a strategic partner comes into sharper focus. When anchored to enterprise goals, it becomes a force multiplier: shaping demand, strengthening positioning, and turning uncertainty into momentum.

Over the past 25 years, I’ve seen this play out across industries and economic cycles at global brands like Microsoft, McDonald’s, Goldman Sachs, and Unilever. Now, at Consello, I work with CMOs and senior leaders who are grappling with the same question: how do we move with precision when the ground keeps shifting beneath us?

These are the three fundamentals I return to in those conversations, including some new supporting research. Together they help marketers reconnect with impact, cut through noise, and lead with confidence when conditions demand more than just performance marketing muscle.

RECONFIRM THE BUSINESS GOAL

In turbulent markets, the first casualty is often strategic alignment. Objectives set six months ago may no longer reflect today’s business imperatives. When that happens, marketing needs to realign, fast.

The test is simple: Can your KPI stand up to scrutiny in a boardroom conversation? If not, it’s the wrong KPI.
Too often, we optimize what’s visible instead of what’s valuable. That creates activity, not traction. Teams start managing to ROAS as the end goal instead of using it as one indicator among many. They chase CPMs instead of defending pricing power. They report brand lift, but sustainable growth remains elusive.

Strong marketing strategies start with organizational alignment. If Finance and Marketing aren’t operating from a shared definition of success, even the most efficient media mix can’t build long-term value. Alignment begins by

asking better questions, about what the business truly needs, and whether marketing’s definition of performance actually maps to those needs.

That’s also where marketing brings unique value: proximity to the customer. As both a driver of growth and a source of deep customer insight, marketing is often the first to detect shifts in behavior, sentiment, or demand. When that insight is elevated to the enterprise level, it doesn’t just shape campaigns, it sharpens strategy and reaffirms marketing’s role as a growth-driver not a cost-center.

MESSAGING FIRST: THE UNTAPPED MULTIPLIER

In an environment where media investment is scrutinized and results need to show up fast, marketers still under-leverage their most powerful lever: the message.

Creative drives more profit than any other variable in the marketing mix. According to Kantar, moving from a mediocre to a great piece of creative multiplies payback twelvefold. By contrast, the best media-mix adjustment delivers just a 2.5x improvement.1 If budget or time is tight, the most effective move is to tune the words, images, and story, not the settings.

Yet creative still gets deprioritized. Kantar’s research also shows that marketers systematically underestimate creative’s impact, ranking it three spots lower than its actual effect. They tend to overestimate factors like targeting and channel configuration, likely because they’re easier to control.

But no amount of precision or spend can compensate for a message that doesn’t land.

Strong brand messaging has to be noticed, understood, and remembered, and when it is, it does more than lift awareness. It drives preference, reinforces margin and builds pricing power with consumers and partners. Achieving that impact hinges on creative that’s clear, context specific, and platform native. Decide which ideas you’ll craft in house and which you’ll co create with partners or influencers (a low risk sandbox for testing new angles), then tune every asset to the format and voice your audience expects.

Effective creative is clear, relevant, and built to perform in the context where it appears. It adapts to the format, respects the platform, and speaks in a voice the audience recognizes. Increasingly brands must develop a framework for deciding what they create themselves and what they co-create with partners and category influencers. The influencer workstream can be a great place to trial the messaging evolution mentioned above.

Momentum beats perfection. Version quickly. Test frequently. Done well, creative is the multiplier that lifts everything else. And in volatile conditions, it’s one of the few levers still fully within a marketer’s control.

MANAGING IN THE MEDIA MULTIVERSE

The fragmentation of customers’ attention across a multiverse of apps, sites and services over the last ten years has been the defining challenge (and opportunity) of the marketing community. Reach that once came wholesale through a few blockbuster channels now has to be stitched together.

Economist Grace Kite’s “lots of littles” framework flips fragmentation into an advantage. Spreading budget across four or five channels – each serving short, context-specific impressions – can lift ROI by 35-65 % and more than double brand impact, giving marketers a clear roadmap to compound growth even as single-channel reach shrinks.2

Budget cuts are inevitable. But how you respond to those cuts is a strategic choice. What you choose to protect, what you choose to pause, and how you reallocate resources under pressure is where marketing leadership shows up. Three principles matter most in those moments:

infographics on protecting brand, focusing on reach and doing fewer things

Reach, relevance, and resonance also provide a useful lens for diagnosing campaign performance. Many underperforming campaigns aren’t suffering from media problems, they’re strategically incomplete. Some never reach the right audience. Others reach the right audience at the wrong moment or in the wrong format. And some deliver forgettable creative that generates exposure, but no real salience.

Start with reach. Growth doesn’t come from those already in the funnel, it comes from those who haven’t yet looked your way. Over-targeting and over-reliance on lower-funnel segments can make a brand invisible to net-new prospects.

Then relevance. Personalization isn’t the goal – fit is. Format, tone, channel, and timing all determine whether a message makes sense in the context where it appears.

Finally, resonance. Distinctive, memorable creative is what transforms exposure into impact. It’s where business value is captured. Without it, even well-placed media becomes wallpaper.

This is especially true in early-stage firms or fast-moving categories, where performance spend dominates by necessity. But even then, brand investment plays a defensive role: it stabilizes Customer Acquisition Costs (CAC), lifts conversion efficiency, protects margin and mitigates the need for discounting.

In leaner times, it’s also essential to maximize owned assets. The homepage, CRM efforts, newsletter lists, and even internal channels become more valuable when paid reach contracts. Integrated well, they maintain brand pressure even when the budget tightens.

Thoroughly review your media mix and execution quarterly. Make it reflect your growth ambition, not just last year’s budget.

TURNING VOLATILITY INTO VELOCITY

The pressure to show results won’t ease just because conditions are uncertain. If anything, volatility raises the bar, tightening timelines, stretching budgets, and heightening scrutiny. The strongest marketing leaders respond by reasserting the value of marketing, not by chasing every metric, but by anchoring their efforts in strategy.

That starts with reconnecting to the fundamentals. Are the business goals still the right ones? Is the message distinctive, relevant, and built to perform across touchpoints? Does the media mix support both short-term performance and long-term brand momentum?

Together, these elements create something more powerful than activity: they create velocity.

Remember, velocity is speed with direction. It’s what allows organizations to move quickly and intentionally toward growth even when conditions are unstable. Marketing plays a central role in that motion. It aligns teams (at its best, it even inspires them) around enterprise priorities. It shapes demand through powerful messaging. And it deploys spend with discipline, balancing efficiency and impact.

The brands that thrive in volatile markets are those that move with clarity, grounded in purpose, guided by signal, and willing to act decisively. At your next offsite (which will likely be an onsite), ask the hard questions: which enterprise goal does each marketing dollar serve? When did we last treat creative as a strategic lever? Are we investing to sustain momentum or simply to avoid risk?

Volatility will persist. But with the right posture, it becomes a proving ground. A space for precision, creativity, and leadership. Marketing doesn’t just adapt to the environment. It has the power to shape what comes next.

The views and opinions expressed herein are solely those of the individual authors and do not necessarily represent those of The Consello Group. Consello is not responsible for and has not verified for accuracy any of the information contained herein. Any discussion of general market activity, industry or sector trends, or other broad-based economic, market, political or regulatory conditions should not be construed as research or advice and should not be relied upon. In addition, nothing in these materials constitutes a guarantee, projection or prediction of future events or results.


Mark Mulhern

Managing Director

Prior to joining Consello, Mark was the Head of Brand Marketing at Goldman Sachs where he was focused on developing programs to support key GS platforms like 10,000 Small Businesses and One Million Black Women. Working in the Executive Office, his team oversaw the global digital footprint and orchestrated key corporate reporting releases such as the quarterly financial results, the annual report and the annual sustainability report.

Mark has also held executive roles in the advertising industry leading both traditional and digital specialist agencies and working on behalf of brands as varied as AT&T, Autism Works, McDonald’s, Microsoft and Unilever.

Mark holds an MSc in Advertising from the Dublin Institute of Technology and a B.A. in Economics and Politics from Trinity College, Dublin.


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