This first appeared in the AdNews Annual 2020. Subscribe here to make sure you get your copy.
AdNews asked industry leaders their perspective on the year that was and the prospects for the road ahead:
Angela Tangas, CEO of dentsu ANZ
Wow, what a year. Even the best crisis management plan couldn’t have prepared us for what 2020 has brought. Bushfires, floods, a global social movement, and a pandemic like no other. These events have changed our business environment, reinventing the way we connect and collaborate — forever.
This year has tested leadership like never before and set a new baseline for how we partner with clients. We have become stronger, more resilient, and we’ve collectively leant into community challenges – mental health, financial pressures, and adapting to new ways of working and schooling, just to name a few.
Yes, it’s been a tough year, but it’s also created new opportunities. At dentsu, it has been an opportunity to transform, simplify, and create an environment where we all lead.
We have pivoted the network from a holding company to a connected teaming company, supporting our commitment to making it easy. We have needed to demonstrate to our clients that what was seemingly impossible, is possible — and we have. Radical collaboration has taken on a whole new meaning.
After almost a year into taking on the CEO role, what’s stood out is that decisiveness, proactiveness, humility, and transparency have been the leadership qualities critical in this volatile environment.
Great communication is the constant thread to motivate, inspire and foster stronger teamwork and partnerships, virtually.
I am proud of team dentsu. Every day we’ve continued to make it real for our clients, our partners and our business.
It’s unquestionably been a year of never befores and arguably the most defining year of my career, but I also believe I’m a better person, leader and peer for it.
Accelerating disruption
In 2020, just about everything has changed. From the sudden decline in media spending, to the rise in demand for analytics and tech, we have collectively participated in the largest social experiment on the planet. Some industries have thrived, while others sadly have had to call it a day.
Commerce has taken on a whole new meaning and brand-to-consumer connection supported by human-centric solutions. And while digital transformation was high on many brand agendas before, it’s now a matter of landing a viable plan to make it happen. To support this, we’ve launched initiatives such as dentsu Commerce, enabling brands to reach their customers no matter where they are based.
However, while social distancing measures will remain a limitation, consumers will demand a more responsive and frictionless experience.
For brands, having the agility to ride the wave of acceleration and prepare for 2021 will be the difference in their ability to grow and retain customers, while maximising the effectiveness of their cost base. The value of brand connection will continue to be a critical enabler.
Sustainability and growth
The role and importance of marketing is changing.
Customer lifetime value is critical, with loyalty, insight and personalisation all key elements to maximising ROI, which is increasingly being linked to margin-based business outcomes.
Brands need a real-time view of the total customer journey, meaning smarter investments in technology, fuelled by clean, rich data to draw relevant insights to power the right decision making today and tomorrow.
Our 2020 Global CMO Study shows that customer growth is a priority, with accountability for reducing costs. This will require greater consumer understanding and greater decisiveness to achieve both long- and short-term outcomes. It’s an increasingly complex landscape and only places greater emphasis on the right type of partnership to help simplify; one that understands a client’s whole business and can join the dots from strategy, to experience, to delivery and optimisation — on any platform.
New thinking is a non-negotiable and will help unlock a new type of partnership that goes beyond marketing to delivering holistic brand value. This also means different commercial models will be key to driving sustainable growth and increased social good — the ultimate quad play: a win for consumers, for clients, for partners and a win for community.
As partners, it’s our role to ensure brands don’t rely on “traditional” recovery strategies. It’s our responsibility to help brands progress, thrive, and leap from what’s now to what’s next.
With the right capabilities now in place and expertise to mobilise quickly, I can proudly say “think dentsu”.
Champions of meaningful progress
While every day is different, this year has demonstrated that opportunity is never what it seems.
As we enter the home stretch of 2020 and brands start to think about a new year, it is important that leaders don’t just revert to the known.
Together we can be champions of meaningful progress by continuing to embrace change with an open mind. After all, resilience, trust and climbing high is the key to future-proofing success.
Bring on 2021.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.