Page 40 - Adnews Nov-Dec 2022

Perspectives
and grit, along with acceptance of the old cliché: the only thing con- stant is change.
Now for 2023, because of course, there will be a complete shift when the clock strikes 12, pumpkins and all. I’m not going to pretend that I have a clearer view of the crystal ball than others, but rather, I’ll be the first to admit that this is the year that I feel the least confident in a prediction...and I’m embracing that.
There is little being offered in terms of stability when it comes to factors that affect us personally and professionally. And Australians are only going to be doing their best to navigate this, which, in my mind, means everything is up for grabs – customers, clients, business, teams, etc. Unavoidably, that means there will be winners and losers across the board, and we’re all just going to be trying our best to come out winners (personally and professionally, for ourselves and for our clients).
In terms of trying to come out on the winning side, I think it will come down to a few things we’re going to have to understand and get right. Some of the things on my mind as I plan ahead for 2023 are:
- How the economic situation will affect agency business – how will our clients prioritise advertis- ing spend and how can we help guide those decisions? How do we make up for our increased operat- ing costs against this as well?
- Howtheeconomicsituationwill affect consumers – their mindsets, behaviours, and choices. I’m not convinced that Australians will act like the rest of the world or even themselves in previous financial cri- ses. They have different priorities and the last few years have created a foundation of emotional and psycho- logical triggers that will play a role – fear, frustration, fatigue and more.
- The new face of responsible marketing and advertising – from diversity and inclusion to environ- mental impact (and greenwashing) and social issues. These stand to be more important in the deci- sion-making process for everyone, from consumers to employees.
So, to sum it up, this is a year where listening is going to be more important than ever, because there’s a lot on the table to be won or lost. Cheers to the challenge!
Rather than reduce marketing budgets as consumers become more frugal, now is the time to increase your efforts to convince them your brand is essential to their lives.
News Corp Australia, Lou Barrett