Advertising is going through existential challenges, Simon Kolawole
Simon Kolawole, the renowned journalist/wordsmith and Founder/CEO, Cable Newspapers has described advertising as a profession going through existential challenges. This came to the fore during the 4th quarterly virtual Summit with the theme: Nigerian Advertising Industry Reform, to Be or Not to Be? organised by MARKETING EDGE, the magazine that is committed to promoting the brand idea.
Kolawole who was the keynote speaker at the event noted that the problems facing the industry threaten its very existence hence need to be properly addressed. He, therefore, welcomes the Advertising Industry Standard of Practice as a step in the right direction but cautioned that all stakeholders must be carried along to make the reform effective.
The Cable Newspaper boss said though he does not practice advertising, he however has friends and classmates who are in the advertising practice. He reminisced that when they were in the school and shortly after they started working, his advertising friends were the envy of those of them who were into journalism because they were always well dressed in fitting suits, riding flashy cars and would not miss the opportunity to remind those who were journalists that without them (advertising practitioners), they (the journalist) and their media houses would not survive.
“Advertising is going through existential challenges and if you do not evolve, you will die because evolution is a fact of life. The problem of the profession is due to the economic realities of the day. Usually, the budget of training and advertisement are the first to e slashed during economic challenge y orgnisations. The problem is worsened by multiplying media outlets, including the digital, chasing lesser budgets from advertisers. This leads to unwholesome practices like delay in payment of ills, intellectual theft and cutting corners.”
While he believes that: “We cannot be doing things the same way and expect a change, Kolawole cautioned that the success or not of the advertising reform is dependent on how the Advertising Practitioners council of Nigeria (APCON) is able to manage the political aspect of the reform. “All reforms are political and they come with challenges. The ability to manage and address the issues arising will go a long way in determining the success of any reform”, the newsroom boss averred.
Earlier, Mr. John Ajayi, Publisher, MARKETING EGDE and Summit convener in his welcome speech thanked the keynote speaker panelists and moderators for accepting the invitation and committing their time and intellect to leading the discourse on the advertising industry reform. He was particularly appreciative of Dr. Lekan Fadolapo for his passion and commitment to the advertising profession. “I must thank you for changing the description of APCON from ‘a toothless dog’ as it is evident that the Council is now alive to its regulatory responsibilities under his leadership.
The Summit which had two sessions featured Dr. Lekan Fadolapo, Registrar, APCON, Aare Fatai Odesile, Managing Director/CEO, Float Distilleries Limited and Femi Adelusi, President, Media independent Practitioners Association of Nigeria MIPAN) and Managing Director, Brandeye for the morning session which was coordinated by Tolulope Medebem, Vice President, Experiential Marketers Association of Nigeria (EXMAN) and Chief Executive Officer, Aster Integrated Marketing Limited.
The afternoon session had Maureen Ngwu, Business Director, Media Seal WPI as Coordinator. The panelists include: David Okeme, Executive Director, SystemSpecs, Steve Babaeko, president, Association of Advertising Agencies of Nigeria (AAAN)/Chief Executive Officer, X3M Ideas, Kehinde Salami, Group CEO, Ideas Holdings and Omo Kingsley Abunene, Managing Director, Beam Media Limited.-
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