Have you caught COMMERCIAL Covid?
if you get Covid your chances of recovery are 98%.
But what if your business catches it?
The chances of it surviving is not so good.
The plague will be with us for a while. Coronavirus has brutalised the film industry with a massive drop in advertising spending.
According to the World Economic Forum, ad spends are down 9% on average across Europe, with Germany and France falling by 7% and 12% respectively.
Here is Sydney, Australia’s advertising market contracted by $1.1 billion as the pandemic crunched global spending in the west by $9.9 billion, reversing two years of growth across the US, UK, Australia, New Zealand and Canada.
It’s a rule of thumb that ad spend follows any rise or fall in GDP.
Over the last decade, as global GDP has risen 3-6% each year, the ad market has grown with it to around $646 billion USD in 2019.
Pre-coronavirus, the ad market was forecast to grow to $865 billion USD by 2024.
It has forced a rethink. On how we promote.
On how we pitch. On how we prosper.
We’ve all seen the radical changes that have happened over the last year. Shrunk spends, concertinaed timelines, higher complexity, and more production protocols.
The impacts have been big and small, gross and subtle.
There are two parts to directing – doing the work and getting the work.
Covid has changed how we do the work in the way I’ve just described.
But how has it affected how we get the work?
Radically ! It’s made it all the more complicated as it hits filmakers in their Achille’s heel…. marketing.
Creatives like directors and producers spend all day thinking deeply about developing campaigns to help position clients and brands.
They’re incredibly passionate and purposeful about impactful positioning and branding because it’s their profession. Ironically they spend little time thinking about the positioning of their own individual professional brand… how to sell themselves… or how to pitch.
Creatives – better than anyone else – understand that when done well positioning is the ultimate weapon to accelerate a brand. Yet when it’s about their career, professional development or their unique field of expertise, they don’t invest enough time in developing, promoting and nurturing their own brands.
Like the overweight doctor who smokes, or the hairdresser with bed head, creatives often struggle to promote themselves as well as they can their clients.
It’s the irony of expertise.
If you’d like to know what you can do to future proof yourself as a creative, drop me a line.
We’ll talk about how top create a system for impact and income.
Stay dangerous!
