Why 2017 may not be different from previous years —Experts

No doubt, with year 2016 successfully completed, the wish of many, especially in the nation’s integrated marketing communications industry is that 2017 will be radically different, positively, from last year.

But, while many have continued to ‘wish’ for a more rewarding year in the industry, not a few practitioners and industry watchers have argued that considering the reality on ground, the  new year might not be anything different from 2016, with some even
predicting a worse year.

For instance, such pessimism is hinged on the present fate of the nation’s currency, the naira, against its foreign counterparts.

“The nation’s IMC is a service industry. It can only thrive when the companies we are servicing are thriving, but in a case where most of these companies are even finding it very tough getting their raw materials due to the declining fortune of the naira, then we should know what to expect,” argued the Secretary-General of the Outdoor Advertising Agencies of Nigeria (OOAN), Mr Femi Ogala.

According to the OAAN Scribe, since the fortunes of the nation have not really improved, in the past few months, one should not expect anything different.

He also argued that since the business environment  is still very hostile to businesses, it would be ‘foolhardy’ to think that the year 2017 will be an improvement on the previous year.

“Up till now, the regulatory framework, especially the state outdoor advertising regulatory agencies, are still as hostile as ever. Till today, a lot of practitioners are still paying for vacant boards in Lagos and the money keeps accumulating,” he added.

Another of those factors that might hinder the growth of the industry in the new year and not make its fortunes better than that of the previous year is the vacuum that continues to exist at the council of the apex regulatory body, the Advertising Practitioners Council of Nigeria (APCON).

In his analysis of the implications of an APCON without a governing board, Goddie Ofose, a brand analyst and writer, argues that such situation would make it difficult for the marketing communications industry to give teeth to vital issues and developments, concerning the

industry, the utmost attention it deserves.

“Do you know that regulating online adverts remains an issue simply because there is no council in place to actually give a policy direction? Unfortunately, a lot of money that would have accrued to the regulatory council keeps ending in individuals’ pockets, with the

industry being the worse for it,” he stated.

Another of such factors that may not make the new year an improvement on the previous year remains the increasing popularity of the social media, and the tendency of the practitioners not to want to leave their ‘comfort zones’.

Discussing some determining factors for Year 2017, recently, the President of the African Public Relations Association (APRA), Mr Yomi Badejo-Okunsanya, has drawn the attention of industry practitioners to the danger of not being in tune with the new media.

He predicted that the New Year might be worse, especially for practitioners that refuse to innovate, hone their skills and move with the trends.

Perhaps the delay in passing the nation’s budget, a recurring decimal in this part of the world, may not allow the New Year fare better than the previous ones.

“A lot of individuals and corporate organisations wait for the release of the nation’s budget before coming up with theirs. And in this part of the globe, a substantial time is spend on waiting for the passage of the budget, unfortunately that period of waiting is usually a waste

because it does not allow the people to hold the new year by the jugular, early enough,” argued Mr Tom Ajisefini, a financial expert, while commenting on the issue.