A SIGNIFICANT TRANSFORMATION
The advertising industry, like all industries today, is witnessing a significant transformation and is being called to revisit how it does things.
The environment is tough, there’s no doubt about that and the changes we’re facing are happening on all fronts at once:
The overall economical situation of the country is unstable to say the least, and as always, brand building budgets are cut first. As a way to further reduce costs, advertisers are often recruiting in-house talents to handle their design or digital needs, and redirecting their efforts towards social media and short-term activities.
And a lot of people are online, most of the time. This is probably the major change agent in what we’re witnessing. It means completely different media consumption habits and behavior, an ever-changing set of expectations to adapt to among consumers, the emergence of new communication channels (such as Influencers), and a drastic change in mindset among young creative talents and how they connect to Advertising.
All of this makes it a real challenge for ad agencies to grow, especially when they’re unwilling to compromise on the quality and standards of their work. On the other side, this is the age of accountability, which means that the agencies that are going to survive are the ones who produce good work and generate real results, and that’s great news.
The challenges we are facing are nothing new to the world: whenever an economical crisis arises, communication budgets are cut. And there will always be, in Lebanon like everywhere else, businesses and brands that can see and take the opportunity of those turbulent times to stand out, connect with their audience, and build bonds that are meant to last.
THE BEAUTY AND MAGIC OF THE INDUSTRY
What the advertising industry needs most of all is to remember the beauty and magic of what it can do, then the rest will follow.
Adverting has always been on the leading edge of creativity, home of new ideas and new technologies. It brings art into business and combines many different disciplines, looking for new ways to connect with people and to connect people to each other.
When we forget all of this and think of ad agencies as mechanical service providers, we forget what gets ideas flowing and businesses growing: passion, curiosity, and excitement.
Let’s create ads that we haven’t seen before. Let us find ways to truly speak with the unpredictable youth of today, and add value to their lives. Let us design experiences that expand our creative understanding. Let us remember the power of celebrating really good work, and bring back the anticipation of winning a local award.
Let us do that, and the rest will follow. The work will speak for itself, clients and brands will remember the impact good advertising can have on their bottom lines, advertising budgets will be seen again as investments rather than costs, and we’ll be able to get back and keep our best talents in the country.
Let’s not forget what gets ideas flowing and businesses growing: passion, curiosity, and excitement
George Slim Chief Executive Officer Pimo