Based on numbers being collected in the past couple of weeks, the advertising industry is really looking good. The industry has the most employed people it's had since 2006, and businesses are buying steady amounts of advertising services. The rise of digital advertising is a good touch, with brands indicating that they will increase their digital spend dramatically in 2016. The race to consolidate slowed down too after a couple of major mergers, which will be good for the few remaining agencies to try and stave off a buyout and win some business.
With agencies looking into the new year, is there any one thing these leading professionals should consider changing? Is there something that will change their business for the better?
Hard to say.
There are many things AdLand can take a closer look into during the beginning of 2016. Curating a better online experience to put ad-blocking companies out of business could be one idea. Convincing Congress that taking advertising out of the cost of doing business category is a dumb idea but could be another thing to consider. Even more, the ANA and 4A's could draft a world-recognized outline of how brands and agencies should work together, including the ban of spec work. Wouldn't that be nice?
Still, AdLand has obstacles around that have been harder to tackle. Women and minorities are still lacking in leadership and creativity roles. Ageism in AdLand is getting to be a bigger problem as Baby Boomers and Gen X'ers are getting older, and more Millennials and Gen Z'ers are entering the workplace.
Needless to day, AdLand will certainly be a busy place in 2016. And we wouldn't want it any other way.
Dwayne W. Waite Jr. is partner and principal at JDW: The Charlotte Agency, a marketing and advertising shop in Charlotte, NC. He enjoys consumer behavior, economics, and football.
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