Growth and value were the topline themes at LEAD, the annual industry event organised by the Advertising Association with its partners ISBA and the IPA that explores the big issues in advertising.
Industry growth will be very much driven by building trust in advertising, the potential of AI and the power of creativity, all ingredients that were explored in some depth by several speakers and panels.
The ad industry needs a morale boost in the current challenging economic climate and Sir Chris Bryant, Minister for Creative Industries, Arts and Tourism showed the sector a lot of love. He emphasised how advertising is deeply integrated into the whole eco-system of the creative industries and pointed to how the UK is the second largest exporter of advertising in the world. He also made plain the government wants to take a sensible approach to the much-trailed regulations on advertising of ‘unhealthy foods’ with genuine industry consultation.
And Dan Wilks, Director of Credos, reinforced the feelgood factor by highlighting the value of advertising to the UK economy and to businesses with snippets from the forthcoming Advertising Pays 2025 report. Measured by Gross Value Added (GVA) the advertising and marketing industry contributes an amazing £44.1bn.
Other highlights included:
- ISBA President and Boot’s CMO Pete Markey reeling off a list of CMO priorities and opportunities in five minutes. The digest version being lean into retail media, back the efforts to develop better cross media measurement and strive for responsible marketing, including the steps to making it accessible.
- IPA President and CEO of GroupM EMEA Josh Krichefski passionately championing creativity. As he said: “Creativity is the cornerstone of success in advertising.” He pointed out this means applying creativity to problem-solving and innovation and that AI will not dislodge its role. “Creativity is the bridge between the present and the future and helps us stay ahead of the curve.”
- Quickfire advice from an AI-focused panel of marketers: “Get started and keep your scope tight – find a strategic partner”; “treat AI like learning to drive – understand the theory first” and “lead by example – take a course.”
- Learning a new acronym from ITV Managing Director of Commercial ITV Kelly Williams. Apparently FELT businesses are the new targets for his team – that’s ‘Fat End of the Long Tail’. There’s always something new to learn at LEAD.