Lead adman and Noah’s Ark Communications Limited CEO, Lanre Adisa has admonished advertising agencies in the country to up their game and
be re-invent their operations if they are to survive and face the growing challenges in the industry.
Adisa who stated this recently in an interview disclosed that 2019 was quite challenging for the industry judging from submissions at the National Advertising Conference held recently in Abuja.
He said that 2019 was mix of the good, the bad and the ugly. He added that with the current economic policies of the government which seemed not so friendly, and with analysts pointing to the 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 macroeconomic 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.