Mid-year Report Card: Creative Solutions, Teamwork, A Proactive Mindset

What trends, developments or issues would you point to thus far in 2022 as being most significant, perhaps carrying implications for the rest of this year and beyond?

The recession is going to be a major challenge for the industry moving forward. We’ve seen agencies making major layoffs due to client cutbacks and foreshadowing what is to come.

A challenge of the economic status in our industry is marketing budgets and where dollars are allocated. We saw an uptick in purpose driven marketing efforts during the pandemic, however as we continue to see the implications of the recession, the question is, will purpose based efforts continue to get the budget that they deserve? I hope brands will prioritize budgets to shine a light on issues communities face in this world. It’s our job as marketers to spotlight what’s not being discussed and I fear that our purpose may get lost as brands shrink their marketing budgets.

In addition, we could see a decline in test and learn projects like developing brands in the metaverse, but I’d remind brands that people appreciate access to unique products and experiences in the real world and that the metaverse is no different. This is why it’s integral for brands to continue to lean into the metaverse to truly engage and help shape what the space and experience looks like. I believe the metaverse and its foundational architecture will help brands finally connect with their customers.

In the pandemic, we also saw a rise in focus of senior level talent due to remote work, hybrid situations, etc. I believe the goal for the rest of 2022 and beyond is to see a concentration on fostering a younger generation of talent. There needs to be more of a focus on mentoring young people and investing in hiring and retaining them. Ultimately, this will diversify the scope of individuals in the industry, encouraging more diversity of thought.