Mediaweek held its inaugural Power Lunch in October, celebrating the successes of the media industry and the people who make it.
Melissa Fein, CEO of Initiative Australia, took the 6th spot on the Agency 50 list. Mediaweek caught up with Fein as she looked back at the agency’s “best year in history” and shared her thoughts on important issues in the industry.
Mediaweek: Congratulations on making the #6 spot on our Mediaweek Agency 50 list. What was your reaction to your placement?
Melissa Fein: Honoured to be recognised alongside worthy peers across this all industry, all gender list.
MW: How does your position on the list reflect the achievements made by Initiative Australia?
MF: Initiative Australia has had its best year in history, smashing all records across new business, client satisfaction and industry recognition.
As the leader of the business, I have an intense focus on creating a culture of high performing, highly motivated individuals – this ethos would not be possible without my incredible senior leadership team – they inspire me in every way possible and collectively we have created an inclusive safe culture where our people come to work and produce the best work of their careers!
MW: What are three industry issues on your mind, and in your opinion, how can they be solved or achieved?
MF: – Economic headwinds are driving brands back to “short termism” – over investing in performance media and under investing in brand which could have brutal effects on some local and global brands in coming years. Marketers need to use the tools at their disposal (Market Mix models etc) and work closely with their strategy / planning teams to ensure they are balancing their brand / performance mix.
Proudly, this is something we’re seeing less from within our client portfolio, as we have worked alongside them to defend budgets, and back creativity (especially in media) as a competitive advantage in such climates. So far, it’s delivering for them.
– A year of talent recalibration – we are already seeing job cuts through holding groups, publisher and tech companies. Businesses that have over compensated talent and under delivered on people programs that matter will suffer as a result of this. We need to ensure each individual has their own career / development plan so they don’t suffer with ambiguity on their personal outlooks. Businesses can plan better when there are formal strategies in place to ensure pay increases are planned and budgeted for and promotions come with the right levels of training and empowerment to ensure individuals are set up for success.
– Investment into responsible media – we have moved beyond brand safety and I believe 2023 will see an even greater focus on sustainable and inclusive media. Agencies have a responsibility to their clients to be planning this way and hopefully we see an increase of clients committing 3% of their investment into First Nations media. In the upcoming year of the Referendum it’s never been more important!
MW: What is your outlook for Initiative Australia in 2023?
MF: We certainly won’t be resting on our laurels, we went away as a leadership group and worked together on our 3 big bets for 2023 and completed a roadshow across the country so every single Initiative employee would be across our focus areas and then understand what their role is to play in our success.
Bringing all our people on the journey is critical to our success. We are unifying critical business units together, investing in senior talent and focusing on our employee experience to ensure we are set up for an even bigger 2023.
MW: What are your hopes for the industry in 2023?
MF: For mainstream broadcast media to step up and educate Australians on the upcoming referendum and the impact that their vote either way will have on the future of this country, And for brands to follow suit.
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Top image: Melissa Fein