- EXMAN Canvasses Sectorial Group’s Support for AISOP industry initiative
The Experiential Marketers Association of Nigeria (EXMAN) has called out to stakeholders across Nigeria’s Integrated Marketing Communications industry, especially, Sectorial Groups, on the need to come together and work concertedly for the success of the industry new reform initiative, the Advertising Industry Standard of Practice (AISOP).
The scheme, midwifed under the regulatory purview of the Advertising Practitioners Council of Nigeria (APCON), is an industry wide initiative, specifically set up to provide regulatory framework for such controvertible subjects affecting business stakeholders, such as, the Engagement policy, Payment terms and conditions, numeration model, media rates among others.
Meanwhile, it is expected that with the implementation of this guideline, the Council will be placed among the most progressive advertising and marketing communications industries across the globe.
Speaking during an exclusive in chat with The Industry Newspaper, EXMAN President, Tunji Adeyinka said it was Imperative sectorial groups in the industry to work together to ensure workability of the new reforms, stressing that, by so doing the industry could easily overcome and recover the business losses of past years brought about by impacts of the Covid19 pandemic.
“You need to look at the reforms in two perspectives. AISOP is one leg. The industry code of conduct, the code of practice is another one. AISOP seeks to provide a more equitable level of relationship between the agency and client, a relationship which would in the long run provide better productivity for the industry” he said.
Adeyinka who took a critical appraisal of business performance in the the industry last year observed that the businesses faired relatively better in 2021, far beyond 2020 records records, especially in areas of consumption and production.
He expressed optimism, however, that looking at current macro economic indices and popular projections, the industry was bound to improve upon previous performances of the past year and recover the losses occasioned by Covid..
“Last year, I would say was a better year by way of business than the previous year. We looked at the entire economy, there was an improvement. Last year was 2021, there was an improvement from 2020, u can classify that as the deep point for Covid 19. 2021 was more of a year where we started to see a light recovery in the economy and also in production and consumption which also affected experiential marketing businesses”
“This current year as an association we believe that it will be much better than the previous year. We look at the macro environment, from the projections from the economist that the Nigerian economy will grow, more sectors will come out of the recessions of last year, and also, the rate of vaccinations is also increasing. We will have more public events, more gatherings which is one of the essential pillars of our industry. So coupled with that, we believe that the reforms will also begin to bring some traction and going by the understanding within the industry, its a positive outlook for 2022”
Commenting on provisions of the 2022 national budget released recently by the federal government, the association boss expressed hopes that the budget could impacted positively on the economy at large considering that a lot of businesses are organized around the government.
He noted that being an expansive budget, liquidity could be brought into the economy by reason of government spending, adding that, once consumers are able to buy more, companies could be able to produce more, and service sectors are able to do more business by supporting those companies.