Agencies that will survive in 2020 must be inventive and think differently, says Adisa
The Managing Director/CEO, Noah’s Ark Communications Limited, Lanre Adisa, has taken a critical assessment of business performances in Nigeria’s Marketing Communications industry, especially in period of the outgoing year 2019 and submitted that agencies that would survive in the 2020 business year must be inventive and think differently in the face of emerging challenges.
Speaking in an exclusive interview with MARKETING EDGE recently, the agency boss observed that the 2019 business year was indeed quite challenging for the advertising industry judging from submissions emanating from the National Advertising Conference which ended recently in Abuja, the Federal Capital Territory.
According to him, the outgoing year presented a mixed bag of the good, the bad and the ugly. He explained that with the current economic policies of government being not so friendly, and economists pointing to negative economic indices, the 2020 business year might definitely pose very serious challenges and agencies must think differently and be very inventive if they must survive.
“The industry reflects the economy; it reflects the macro economic situation of the country, and looking at the submissions from the last National Advertising conference in Abuja, it’s been a very challenging year for our industry. That’s the much I would say.
“We’ve also seen more of legacy agencies in comatose or dead as it were and that is not a good thing at all. Yes, we can say a couple of new agencies are also springing up here and there, but we don’t want to kill some and then give birth to a new set of agencies. So in that respect, it’s been a mixed bag of sorts for the industry,” he said.
Adisa pointed out that when the economy and government policies have some negative impact on clients, agencies also suffer with them, adding that the indices for next year didn’t seem to be so pleasant.
“No doubt, it’s going to be a very challenging year with what economists are saying here and there. One can only hope that in the midst of all that every agency would find its own way of surviving the challenges. That’s the much I feel, and it calls for everybody to be smarter and to look for ways of plugging the base of your business and ensure that you can secure the confidence of clients.
“Yes, there is this thing about broadening your base and I alluded to that earlier. The first thing is to know that you are in the business of managing talents for business growth, and the business growth will come in both ways; growing the business of your client and growing your own business as well. So, it’s up to you to say this is the best way to use that talent that I have,” he stressed.
Commenting on the recently concluded 2019 edition of the Lagos Advertising and Ideas Festival, LAIF Awards, Adisa whose agency emerged tops in the award, winning highest number of 21 medals in all, explained that the agency’s feat in the award was consistent with its avowed vision which is to be in the league of the most successful brand builders out of Africa and to represent Nigeria in the scheme of things as far as advertising is concerned.
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