RESET - The role of marketing as a critical driver of growth

By AdNews | 9 May 2024
Josh Faulks.

Australian advertisers are the engine room helping the economy grow, according to Josh Faulks, the CEO of the Australian Association of National Advertisers (AANA).

He was speaking today at the tenth RESET, the industry group's annual conference in Sydney.

"Geopolitical issues, sticky inflation, higher-for-longer interest rates and the rising cost of living is really having a bit impact on consumer confidence," Faulks said. 

"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.

"The big question that so many brands are grappling with is how to grow without passing on these costs to consumers, which will have an impact on demand and further drive up inflation.

"In this challenging market, I think a lot of people out there underestimate the role of marketing as a critical driver of growth and profitability."

He told the conference attendees they should all feel proud to work in such a creative, inspiring and impactful

"What you do has the power to shape opinions and inspire entire cultural movements," he said. 

"It is now up to all of us to come together and create a bright future for our industry."

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