Generative AI (Gen AI) is reshaping industries at a breakneck pace, unlocking new efficiencies, driving innovation, and transforming how businesses operate. While startups are often seen as the fast-moving adopters of AI, it is large corporations that must play a critical role in leading the charge on Gen AI governance.
Three months back, Nike's share price nose-dived US$27.5 billion in a single day. John Donahue's grand plans to make the 60-year-old athleisure brand into a direct-to-consumer hadn't played out as he had imagined, and now, he's paid for it with his job. On October 13 he'll be replaced as CEO by former Nike stalwart Elliott Hill. Affinity CEO Luke Brown lays out the play-by-play of where it all went wrong, and what business leaders might stand to learn from Nike's mistakes.
In the words of AANA chief, Josh Faulks, this year’s AANA Reset event was designed to bring the biggest and most successful global campaigns to Australia to help inspire local marketing and media industry to better pursue growth. For those lacking big budgets and brand salience, or suffering economic fallout and tackling some of the other 4Ps of marketing (and a fifth – privacy), it can feel aspirational but less practical. But there were some useful lessons around what’s really going on with advertising and media under the surface of the big creative wins.
Working from home is all too seductive for younger employees, but Covid taught Matt Rowley leaders need to plan longer term. He says the connections made early in our careers are fantastically formative, and a diet of virtual office culture will never be enough for developing talent.
We chased shiny things, jumped at shadows and made frenzied, reactionary decisions, Lesley Edwards says. Writing this piece in Brisbane during the latest lockdown, she says the time to review and move towards more consistent, measured decision making is something industry badly needs.
A renewed, real focus on guests and flexibility, tech-fuelled insights and unique, local tourism experiences kept Ovolo Hotels ahead and built brand equity through Covid, per marketing boss Stephen Howard. The tourism industry has irrevocably changed – in favour of the customer.
Coronavirus prompted staggering declines and rapid rises in spend in 2020. How industry responds to the systemic changes – rises in SVOD, BVOD and growth in addressable media – will transform advertising for the better, says IPG Mediabrands CEO Mark Coad.
When an all consuming event like Covid hits, pre-prepared brand strategies and media plans need fine-tuning with a meat cleaver, Karl Treacher says. In the end, brands that prioritise practical customer benefits and cut their losses will succeed – deeds eat words for lunch.
The SME pandemic recovery presents an opportunity for brands to demonstrate their support for local businesses, Lisa de Vere White says. Those who are flexible, keep brand building and invest in the whole marketing funnel will thrive.
One crucial phone call in February 2020 alerted Claire Kimball to Covid’s potentially shattering effects on revenue at women's indie publisher The Squiz. She says how they reacted then has only reinforced her sensibilities about becoming an ‘engagement company’, not a media business… and the potential for podcasts.
When Covid forced Victoria into lockdown, it also severed the connections between tight-knit Thinkerbell teams in Sydney and Melbourne. CEO Margie Reid says she appreciated the power of phone calls, Zoom and emotional support on mental health – and how brands can positively affect inequality.
Crazy low margins, a growing gap between human brains and tech and a lack of innovation typified the industry pre-Covid. This is Flow CEO Jimmy Hyett argues pandemic-fuelled structural change will re-shape the sector for good. He predicts more micro agencies, closer partnerships between brands and agencies, and a leaner – and better – sector after rounds of redundancies.