Australia’s marketers must face the challenges of economic volatility and ride the roller coaster to growth.
Josh Faulks, the CEO of the Australian Association of National Advertisers (AANA), opened the industry body’s annual RESET event with a call to action.
He said the industry faces an unprecedented convergence of challenges, but also a once-in-a-generation opportunity to lead, adapt and grow.
He likened the current operating environment to "riding one of the world's most intense roller coasters," highlighting the economic volatility, mounting regulatory threats and the transformative power of artificial intelligence (AI) as the three major forces reshaping the future of marketing.
Faulks also addressed escalating regulatory threats, pointing to government proposals for advertising bans across gambling, alcohol and even food and beverage categories.
"This is no longer a theoretical threat. It’s real. Some bans are already happening," Faulks said.
"Collectively, these proposals will strip hundreds of millions of dollars out of our industry and cripple the ability of some brands to advertise their products. This is exactly at the time when so many businesses and the economy are struggling."
He reaffirmed AANA’s commitment to fight.
"We must push back. We are working hard to create a regulatory environment that allows business - and our industry - to thrive,” he said.
Faulks urged the marketing community to lean in to demonstrate the power of marketing to drive real growth.
"In this environment, leaders have two choices," he said. "We can put our heads in the sand and wait until it all blows over – which we know it won’t. Or, we can lean in with strategic intent, invest in marketing to drive growth."
Faulks said the industry doesn’t just weather storms, “We build in them”.
“Now is the time to come together - not just to defend our industry, but to be proud of the critical role we play in growing our economy and shaping Australia's future."
AANA unveiled a new tag line at RESET: “Be a member of Marketing’s Future”.
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