The AdNews end of year Perspectives, looking back at 2024 and forward to next year.
Lou Barret, Managing Director - Client Partnerships, News Corp Australia
OUR industry is in danger of losing a large chunk of its heart, and its soul.
Despite advertising’s ubiquity the industry needs to ask itself some tough questions. And as we near the end of 2024 one question in particular looms large.
Are we still demonstrating, developing or even maintaining the levels of creativity - for which the Australian market is justly famous - as we did in the past?
Or - in these cost-conscious times - do we too-often opt for the easiest route available?
So when I’m asked “what do we need more of in 2025?” I always respond that I’d very much like to see more creativity.
Because when I look around I struggle to find big, beautiful brand ads which ooze creativity.
To my mind we have gone down a route where money is not being spent on brands like in the past.
Many ads are, as we all know, increasingly tactical in nature and lack the big strategic focus that once set the great from the pack, there have been conversations about this for a number of years now.
We can navel gaze and ask how it came to this? Was it the rise of the influencer (the answer in my view is likely in the affirmative). Was it the rise of the Silicon Valley Sovereigns and their monopolistic walled gardens? Again, that too is undoubtedly true.
But that’s the world we live in and we need to not only survive but thrive. Make do with what we have and work to make sure platforms like Meta follow the same laws and regulations the rest of us take for granted.
Marketers need to rediscover their courage. Too many are hooked on the drug called Meta.
Meta as an advertising platform might be easy but it lacks transparency and puts users at the whim of their secretive algorithms which can change without notice to the detriment of both your business and your clients’. And they mark their own homework unlike the rest of the industry which is subject to independent audit through ipsos iris.
On that note, expect to hear a lot more next year about engaged reach, which builds on the existing metric of audience reach but adds audience engagement - a key factor marketers can use to measure their return on investment. It’s a superior measure of consumer behaviour and how the market truly works. Stay tuned on that one.
Of course, it’s not all bad and there is plenty of reason to be hopeful.
We have some world-class Chief Marketing Officers in this country - Brent Smart at Telstra and Mim Haysom at Suncorp are two who spring to mind.
Notably both come from creative agency backgrounds.
And, of course, there’s Katie Page at Harvey Norman who understands the need to spend through cost of living crises and other tough times.
Chief marketing officers need to argue the case - for their brand and for the service model they want, not what procurement and their finance people dictate.
They need to stand up and say “no, no, I want this, I want to work with these people even though it might cost a bit more and here are the reasons why”.
Another question I inevitably get is will next year be any better?
I remain cautiously optimistic. We have a Federal Election to be held by May amid continued cost of living and housing crises. Interest rate relief looks increasingly elusive.
One reason for my optimism is the fact News Corp Australia has a great focus on the creative process. Creativity encourages flexible thinking and nurtures the ability to respond to emerging trends and the unexpected.
Our success at monetising Black Friday help and Cyber Monday explain my outlook. As is our success at video which has come as the streaming services increase pressure on FTA TV through increased advertising spend.
But the big reason underwriting my optimism is my strong belief in journalism.
As Rupert Murdoch has said, “journalism is the backbone” of our company.
Take for example the NRMA Insurance Help Our Highway Campaign launched this April, which highlighted urgent safety issues on Queensland’s Bruce Highway.
Using our cross-platform reach and deep community insights, the campaign mobilised public support and new government funding commitments soon followed to repair blackspots, address critical upgrades and release funds to establish a national road safety hub.
If ever there was an example of how trusted journalism can change things for the better, it’s this kind of campaign which underscores trusted media’s ability to create meaningful change. In this case, leveraging our unique editorial influence to amplify NRMA's brand presence while addressing a critical issue for Queenslanders.
And none of it would have happened without the secret sauce: creativity.
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