How Advertising Agencies can regain relevance — Awosika

Advertising guru and Vice Chairman of Troyka, Jimi Awosika, has called on advertising agencies in the country to adopt new thinking if they want to thrive rather than merely survive in the face of the challenge posed by the post-digital to conventional advertising.
Awosika made the call in Lagos on Friday while delivering a keynote address at the opening of the 46th Annual General Meeting/Congress of the Advertising Agencies Association of Nigeria.
In the address, titled: “Going into Sunrise,” Awosika noted that the post-digital age has spawned a raft of new economic activities at a speed advertising agencies are unable to cope with.
The inability to adjust to this new reality, said Awosika, has made advertising agencies less relevant than they had been as much of their businesses has been taken by modern-minded content creators outside the mainstream advertising industry.  
He blamed the development on the restrictive mindset that is dominant in the industry.
To reverse the disadvantage currently suffered by agencies, Awosika urged new thinking that is underpinned by an adaptive mindset and continuous innovation.
He advised agencies to hire staff with skills required in the post-digital age, develop new structures and processes, develop capacity to predict consumer behaviour as a way of making brands more relevant and positively impacting clients’ margins.                                              
This year’s AAAN AGM is themed: “The War Within: Solutions for Survival.”
It aims to design appropriate responses to the loss of relevance by advertising agencies, loss of highly skilled personnel to banks and telecommunication companies as well as other issues affecting the industry.                          
As part of the activities, distinguished senior practitioners were honoured with special recognition awards.
Those honoured were Udeme Ufot and Julia Oku-Jacks, both of SO&U; Lere Awokoya of TBWA Concepts; Kola Ayanwale of Centrespread; Funmi Onabolu; Victor Johnson; and Awosika, the keynote speaker.                          
Two young practitioners were also honoured with rising stars awards.
They are Debola Adebulugbe of Insight Publicis and Bolaji Alausa of Noah’s Ark.