Are advertising awards vain for gain or gain for vain?
We have 191 recognised advertising related award shows in the world and counting. These award shows are conducted independent of the respective national award programmes run in many countries. If national awards are added, there could well be over 300+ award shows in a year which is on an average one award show every work day, almost. They all claim to be wanting to meet a noble objective, to raise the bar in advertising standards of a business where global revenues keep diminishing annually: An industry where value is added to brands through ad companies who in part add value to their client’s companies and who in part contribute to significant goodwill through brand communication programmes. The entire process generates a great value and when quantified could run into billions of dollars.
If the same formulation of valuation is applied to Brand Communication companies the value of such companies could return incremental or declining value. How come an industry that creates significant value for clients is unable to generate the same for itself? I strongly believe the agency business model needs to be revisited besides also repurposing ourselves as communication partners, but that is a conversation for another day. It’s high time that the industry wakes-up and asks, who is rooking who? The ad industry must quantify the annual cost agencies incur by entering, travelling to, and participating in such award programmes which at the end has little positive impact on the company’s bottom line. If the argument is that it improves staff morale then use that money to reward them better in an industry where you may not lose a limb but you almost certainly compromise your lifestyle to keep food on the table. We are impacted by client revenues on one side and are being played by award show organisers on the other side and we say, that is fine. Are advertising award shows healthy? Are they needed? My answer, absolutely but in moderation. We need that stimulation, excitement and validation to showcase work on a global platform but the sheer proliferation of ad shows that puts pressure on the entire creative industry as a benchmark of world acceptance is plain cock! At one time if you won at Adfest it was awesome, Spikes came along and it was great but today you must win at Cannes to be of some value which is also losing lustre to shows like the New York Festival or D&AD which are seen a tinge more niche and exclusive. We are a subjective industry and the way awards are dished out, the campaign that doesn’t get even nominated at Cannes can win big at the New York festival just a fortnight later. How?
Just before you begin to conclude that this rant is from a frustrated ad professional, I am fortunate to be working for the country’s largest advertising company, with the biggest heart which incidentally is placed 36th in the world, and is within the top 10 in APAC in EFFIES global rankings. The company has won agency of the year in multiple creative and effective award formats and is currently the Effie Agency of the year for the past three consecutive years. A first in the country. I revel in the immense delight of this recognition with my team and company’s performance but awards are simply nothing to go by until the ‘we’ as an industry who create significant value for others begin to create significant value for ourselves. We live in an impatient era where businesses talk of 10Xing their profitability in 24 months, the great ad industry will be happy with a 2X in 60 months. But can it do it in dollars, what it can do through awards? I will leave that for you to work out whilst pondering if advertising awards are vain for gain or simply gain for vain.
(The thoughts expressed by the writer are entirely his own and doesn’t represent those of the company he works for).
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