How advertising agencies can survive current economic downturn- Adisa

Managing Director, Noah's Ark, Lanre Adisa
By Oluwagbenga Bankole
The Managing Director of Noah’s Ark, Mr. Lanre Adisa has said that advertising agencies who want to survive the current economic downturn should be able to justify every spent and they must be able to reassure that they are with the right partner, saying that this is the time that calls for true partnership.

Adisa noted that it is only agency that can show and mean that they can deliver that will retain the client trust, adding that clients will be more demanding.

He further said that; “you will have instances of clients cutting down on fees, and we have seen that happen. Most clients are not committing to anything anymore at the moment. It is no fault of theirs because the economy is very challenging. To remain that agency that will be of value to them, we need to do three times what we have been doing for them before otherwise you are not guaranteed breakfast or launch.”
“We cannot look at the advertising industry landscape in Nigeria in isolation without looking at the prevailing socio-economic environment as well. As a nation we are going through a very challenging time as a result of the issues with the revenue generation and all that have been badly hit by the oil industry. But, be that as it may, it doesn’t mean that our nation lacks the capacity to bounce back and find alternatives to move forward.”

“Whichever way, as an industry, we will take part of the fall out of that; a couple of our clients here and there will have to find way of readjusting to the reality. However, Nigeria still remains a very vibrant place to operate.”

“If you are in Africa or you plan to play in Africa, Nigeria still remains a place you must consider. That is the reality. So, it is still a promising and dynamic place to operate and do business. We will face some challenges, no doubt about it, but it is about how you apply yourself as an entity, be it as an advertising agency or the clients in this case as well,” he said.

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