Mergers & Acquisitions is the future model of advertising industry – Bunmi Oke
By Oghale Mafuru
Bunmi Oke, CEO of Ladybird Ltd and past president of the Association of Advertising Agencies of Nigeria (AAAN) has added her voice to the call for collaboration among agencies in the advertising industry. The Ladybird boss described Mergers & Acquisitions (M&A) as the most effective way to maximise the strength of agencies for optimum results.
Speaking in an interview with MARKETING EDGE on TV, Oke stated that mergers and acquisitions may have been misconstrued, noting that agencies had always collaborated but mostly with foreign agencies.
According to her, “Agencies have always been collaborating, just that it was not as formal as it is being done now and most of the time, it used to be with international partners”.
The advertising expert averred that M&A is the future model of the industry, adding that collaboration is for the good of the entire industry as well as the marketing communications ecosystem because clients want the best and it is through convergence that client’s satisfaction can be achieved.
She said: “Every agency has strengths and weaknesses and normally the more you come together like a family, the more you find out there is more strength in collaboration. You collaborate together just like people do on pitches. We are saying that beyond pitches as a sustainable business, you can collaborate and I say building a star alliance just like the airlines do could be a way to make sure you bring the strengths of everybody together so that at the end of the day, you have a wholesome solution for the client.”
While acknowledging that many of the agencies offer similar services, Oke said agencies can differentiate their brand personality, capabilities and analyse the different essence, knowledge and exposure they bring to the business.
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