Unfortunately, several previous predictions have materialized and while one or two have thrived, the remainder have not and a few Agencies are still hanging on by their fingernails. We have witnessed a decimation of the Industry with some reports suggesting that employment in the sector has “downsized” by over 40% over the past two years.
So does this mean there’s more to share amongst those remaining. I suspect not. Confidence appears to be returning from the depths of gloom however the digital evolution, another communications channel mind, is experiencing irrational growth fuelled by brand managers opting for cheap volume over meaningful awareness and who is to blame them as traditionalists ignore or belittle the medium. There are great opportunities, as clients returning with budgets to be planned over a period and not just spent as projects, are more than ever determined to challenge and extract maximum poundage.
Let’s hope that the Ad business can educate experienced marketeers as to the value of at least medium term relationships that result in proper thinking expressed in great creative work versus the cut and paste, poorly re-voiced, run of the mill work that has come to the fore in recent times. There is tremendous opportunity to improve the thinking and quality of work and in doing so portray the Island as a centre for creative excellence and not just to indigenous advertisers. There is a real balance between financial pragmatism and fighting for good hard working creativity. Our own business is developing as we walk that challenging tightrope with our colleagues every day. Let’s hope the industry still has the collective brain power left to make these commercial arguments.