The Australian Association of National Advertisers (AANA)’s annual flagship event has kicked off at Sydney’s Overseas Passenger Terminal, under this year’s theme of ‘RESET for Growth’.
In his opener, Josh Faulks, described the tenth year of the industry body event as “10 years of bringing our amazing community together. To be inspired and to be challenged by the some of the biggest thinkers with the biggest ideas.”
Setting the precedent for the day, Faulks asked the audience to reflect on what the AANA CEO described as a “turbulent” year for many businesses and attendees in the room.
“Geopolitical issues, sticky inflation, higher-for-longer interest rates and the rising cost of living is really having a bit impact on consumer confidence. The outlook is flat for the foreseeable future. At same time for many the cost of doing business continues to climb, squeezing margins and increasing pressure to cut costs,” he said.
The biggest question many brands are dealing with, Faulks said, is how to grow without being forced to pass rising costs onto their consumers, thus impacting demand and further fuelling inflation. He also highlighted existential items currently looming over the advertising industry, including a “rising tide” of regulatory threats.
“Whether it’s privacy, greenwashing, or calls for ad bans for unhealthy food or gambling, the potential impact for our industry is significant and we all need to sit up and take notice,” said Faulks.
However, within the perils and challenges of the current market, Faulks maintained that “a lot of people out there underestimate the role of marketing as a critical driver of growth and profitability.”
“It means that now more than ever we need to come to together as an industry to help each other navigate a path through these choppy waters,” he continued.
“It means we need to come together to defend our industry and celebrate – and promote – the good we do.”
This year’s event is centred around the some of the best marketing global campaigns in recent times that have been able to deliver significant and tangible results for brands, despite the challenging environment.
“We are here to learn from some of the best marketers about some of the most celebrated and awarded campaigns about how to grow your business through the power of marketing,” said Faulks.
Speakers throughout the day include futurist and social commentator, Bernard Salt AM, president of Worldwide Marketing at Warner Bros. Picture Group, Josh Goldstine, senior vice president of the LEGO Group, and global head of LEGO agency, Nicole Taylor, general manager of brands, partnerships and creative at CommBank, Dianne Everett, and deputy chair of Football Australia, Jackie Lee-Joe, (whose partnership fueled the meteoric rise of the Matilda’s), founder of Boost Juice Bars, Janine Allis, and vice president of global brands at Anheuser-Busch InBev, Richard Oppy.
Last week, Faulks explained to Mediaweek how the theme of this year’s RESET was particularly pertinent for marketers as a tough economy continues to plague the industry.
He discussed why conversations on growth for the advertising industry matter, as marketers look for ways to sustain business growth, while tackling economic challenges.
“In some industries, it’s huge. We’re talking 30% plus increase in the cost of doing business,” he said.
He explained the roster was curated to represent world-leading examples of growth, highlighting creative efforts that have delivered significant and tangible results for brands, despite the challenging environment.
“Good creativity is not just creativity for the sake of creativity.”
See also: Josh Faulks on brand growth amid 30%+ jump in costs, good creativity, and AANA RESET
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Top Image: Josh Faulks