AAAN President advises on navigating 2023 economic headwinds

By Zion Rufus

In the wake of a looming recession and evident post pandemic pressures, President of the Association of Advertising Agencies in Nigeria, Steve Babaeko has entreated leaders and players in Nigeria’s advertising industry to work together to navigate the economic landscape and find new ways to connect with consumers.

While urging practitioners to explore the unfamiliar terrains of 2023 with optimism and determination, Babaeko in his new year message, pointed out that although the new year will present its own set of economic headwinds, as an industry that thrives on creativity and innovation, these challenges also have the potential to offer opportunities for growth and development.

With 2023 projected to be a year of recession for many global economies, collaboration now sits as the only way for agencies to optimize opportunities and navigate the economic headwinds. In the same vein, collaborating with existing players in the marketing ecosystem to enhance value offering and revenue generation channels has also been identified as the ad agency model of the future.

Babaeko advised: “We can leverage the power of technology and data to create more targeted and effective campaigns, and continue to push the boundaries of what is possible in the advertising industry.”

In his final submission, the President shared: “On a personal note, I want to remind you that, as an Association, we are here to support and guide you through any challenges you may face. If you have any questions or concerns, please don’t hesitate to reach out to us. The Director and the Secretariat are at your service.”


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