Page 36 - Adnews Nov-Dec 2022

Perspectives
campaigns across the media land- scape will surely set any advertiser ahead of the curb. Watch out 2023, it’s going to be a big year!
Rachida Murray, chief digital officer, Spark Foundry
or me, 2022 was the year of
“the new normal” that we’ve been talking about it since 2020 – and yet, 2021 was far from it. At the time, we didn’t know what “the new normal” would look like or how we would adapt. Now, we’re beginning to learn.
It has been the year of getting back to the office, but not all the time, and doing meetings and events in person, but only when it adds value over the efficiency of VC.
The talent crunch is real, yet on the upside, it’s required us to be a lot more creative, lateral and
(L) Rashida Murray, chief digital officer, Spark Foundry. Lucy Formosa Morgan, managing director, Magna Global.
inclusive in our hiring as an industry. And while pitching is still pitching, the research does show, that longevity is an important factor in suc- cessful partnerships.
Thankfully, 2022 is also the year that COVID buzzwords have reached a point of diminishing return. So, we aren’t talking about ‘pivot’ or ‘num- ber of cases’ anymore, we’re done with that. We have gone back to more satisfying problems to solve. In marketing and media, we like to call these shiny objects, or new tools.
I mean, yes, the cookie is dying but have you heard of attention measurement? Have you had a single meeting this year that hasn’t talked about attention measurement? We also have the hot topic of the metaverse, and what that can mean for brands and advertising. But of course, with 2023 around the corner, one of the most pressing is the need for prioritising sustainability and beginning to decarbonise the advertising industry. With 2023 around the corner, it is absolutely some- thing that needs to be done.
Going into 2023, I feel the energy is high.
Yes, there is still a lot of uncertainty due to the macro-economic cli- mate. But as an optimist by nature, I like to think we have flexed our “dealing with ambiguity” muscle over the last three years.
Personally, I choose to believe 2023 will be better than 2022. If I cast my mind back to the beginning of 2022, everyone I spoke to was exhausted after two years of lockdowns, budget cuts, hire freezes etc.
Going into 2023, we have had a big year of adaptation, adjusting our People & Culture practises to face the talent challenges. Brands, agencies and media partners have for the most part had much more focus on “post- Covid”, rather than on “managing during Covid”. And most of the adver- tisers who went dark during the period are back. We have momentum.
Yes, the possibility of a recession is very real and at the current rate of inflation, we will absolutely feel an impact on advertising and media dollars. I expect we will continue to see brands demand efficiency and effectiveness – and choose partners who can deliver both and measure it with accuracy. That’s a trend I’d be happy to see continue as it’s our bread and butter at Spark Foundry.
We will soon see the detail of Australian legislation in data privacy. I imagine it will be less severe than GDPR – it will give us pause, and an opportunity to reassess the risk and mitigations necessary when dealing with consumer data.
Overall, despite challenges in the economy, 2023 will bring promising opportunities for advertisers and marketers, it will demand creativity, measurement and the discipline to not get distracted by shiny objects.
2Lucy Formosa Morgan, managing director, Magna Global
022 is the first year of the ‘new normal’ post 2019 and post COVID.
There were no lockdowns, people started returning to the CBDs and social lives resumed after two turbulent years so demand across most channels has been strong.
From a business perspective, talent retention and attraction remain a key focus. We all hoped the talent pressure would ease as the borders reopened but unfortunately that hasn’t necessarily been the case, so it has put extra pressure on some of the teams. Bringing back the spirit and fun of the media industry is so important.
One area Mediabrands has been driving for the last couple of years is automation and taking the grunt work off the teams so that they can get on with focusing on the more interesting parts of their roles. We’ve rolled out bots across a number of implementation areas and are constantly seeking feedback to fine tune how these work & continuing improving. As someone who’s been with the Group for less than six months, it’s been a real eye-opener to see how advanced we are in this area.
Although consumer spending remains high (at this stage anyway), we do expect ad revenue to temper as we move into 2023.
Inflation, rising cost of living, interest rate hikes and supply issues will mean consumers start to feel the pinch and that’ll have a knock-on impact