Business News of Monday, 22 October 2018
The Minister for Information designate Kojo Oppong Nkrumah has urged the country’s Advertising Industry to adapt to technology or risk falling behind competition.
Mr. Oppong Nkrumah has also admonished players in the advertising industry to go beyond executing client briefs and redefine their role to help clients interface with consumers in a technology-driven advertising world.
He was addressing the 12th edition of the Gong Gong Awards, the flagship event of the Advertising Association of Ghana in Accra on the theme “Technology, Brand Purpose and the Empowered Consumer”
“Technology has always been a catalyst for Industry growth, reinvention and sometimes total change. While it starts off by seeking to make life easier, its true effect is eaten by a total turn around on how things are done. This can wipe out old players especially those who don’t adapt while it opens up new spaces to the early adopters” he said.
The minister told the advertisers “the threat to pole industries as a result of the technology age should be of concern to you as you depend on the survival and spend of these old industries.”
Oppong Nkrumah challenged the advertisers not to just take the client’s brief and convert into a strategy or creative but also serve as an interface between the client whose business is being disrupted and the empowered consumer on the other hand.
In 2016 the Advertising industry grew by18% in Ghana. The growth was led by the Out Of Home and television platforms and was largely influenced by the Political Season of that year. Projections continue to show steady growth with an estimated 9-10 percent growth for 2017 and 2018 years.
However, the industry continues to face severe challenges like Revenue shortfalls from economic sub-sectors that faced challenges and are now going through correction, mergers & acquisitions and consolidation. Others include the difficult and different permitting Processes for mounting outdoor advertising structures as well as boundary disputes between district assemblies on who controls advertising standards in some parts of the country.
Minister for Information designate Kojo Oppong Nkrumah said the surest ways to tackle these challenges is by promulgating a single policy document to regulate the industry. He said work had begun on the advertiser’s bill and when passed into law, will outline best practices in the advertising space and bind all individuals and organisations to apply best standards.
“I am happy to inform you that work on the bill is ongoing. My task therefore as the incoming minister will be to liaise with the Trade Ministry that is Shepherding the bill to complete whatever outstanding work there is so that Parliament can receive and consider it and hopefully pass it into law” he said.
Gong Gong Awards
Deserving agencies, Advertising firms and Personalities were given platinum and gold awards for their creativity and strategic thinking developed locally.