Experts predict shifts in advertising landscape
By Ibidunni Banjoko
As the global focus intensifies on climate change and sustainability, advertisers are bracing for new regulations governing environmental marketing. This anticipation stems from insights shared as part of the International Advertising Association (IAA) Leaders View 2024 forecast, recently posted on the association’s LinkedIn platform.
According to Jeffrey Greenbaum, Global Public Policy Chair at International and Chairman of Global Advertising Lawyers Alliance (GALA), With stricter standards looming, advertisers should anticipate heightened scrutiny of their sustainability claims from regulators, NGOs, competitors, and consumers. He said: “As the world continues to focus on climate change, advertisers should expect to see new rules on environmental marketing. With stricter standards coming into effect, advertisers should also be prepared for increased scrutiny of their sustainability claims by regulators, NGOs, competitors, and consumers”.
On his part, Pascal Cubb, President of IAA France, reflects on the evolving role of advertising, emphasizing the need for it to convey meaning and values while maintaining creativity. He believes that advertising holds the power to influence and drive societal evolution, underscoring the importance of passion, talent, and collaboration in shaping a better world. He stated: “Before, advertising made us dream, today it must have meaning and values while remaining creative. It’s a mutation. The advertising industry has this superpower to impact us and make us evolve. It takes passion, talent and working together to make the world a better place.”
Daniel Casal, former President of IAA Spain, highlights the dynamic nature of the advertising industry, driven by technological advancements and shifts in consumer behavior, particularly in emerging technologies like artificial intelligence and mixed reality. This growth has led to increased professionalism and complexity within the sector, paving the way for strategic mergers and acquisitions aimed at consolidating a stronger, more competitive industry. Casal emphasizes the importance of optimizing resources, leveraging synergies, and enhancing companies’ competitive positions to navigate the ever-evolving advertising landscape successfully.
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