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7 lucrative opportunities SA's creative industry can leverage out of Brics
30 Aug 2023
The recent Brics discussions held in Johannesburg echoed sentiments of unity, collaboration, and mutual growth. For the local advertising and marketing community of South Africa, these deliberations should hold immense potential, setting the stage for lucrative opportunities.
Image supplied. Musa Kalenga, group CEO, The Brave Group, says the recent BRICS meeting sets the stage for lucrative opportunities for the creative industry...
Central to the Brics charter is fostering economic cooperation. As these countries build stronger ties, trade barriers are set to diminish.
As businesses expand across Brics nations, they will require sophisticated marketing insights to navigate unfamiliar terrains. Agencies equipped with local knowledge and global perspectives stand to benefit immensely.
Benefits
- Cultural immersion
An equally significant pillar of Brics is cultural exchange. This means marketers now have a unique chance to immerse themselves in the diverse cultures of the Brics nations. Such immersion provides rich insights into local tastes and preferences. Brands that adapt to these nuanced cultural nuances will have a competitive edge, ensuring their resonance across borders.
- Collaboration
The spirit of Brics is rooted in collaboration. Reflecting this ethos, the advertising and marketing sectors should explore campaigns that cater to audiences across these countries. By leveraging the unique strengths of each nation and crafting unified messaging, campaigns can optimise resources and achieve a much broader impact.
- Redefining consumerism
With their burgeoning middle classes and young demographics, Brics nations are also redefining consumerism. As their economies flourish, these nations will draw the attention of global brands eager to tap into their vast consumer bases. South African marketing experts who understand the pulse of these new markets will be in high demand, guiding global brands through uncharted territories.
- Technological cooperation
In an era dominated by digitisation, Brics’ commitment to technological cooperation spells exciting prospects for South Africa’s digital marketing landscape. The integration of state-of-the-art technologies and innovative strategies from fellow BRICS nations can propel South Africa's marketing endeavours to new heights.
- Overcoming complex regulatory environments
One of the perpetual challenges for international campaigns is navigating the complex regulatory environments of different countries. As Brics countries work towards policy alignment, the task of ensuring compliance across countries can become more straightforward, making South Africa an even more attractive hub for international advertising ventures.
- Aligning with global causes
The combined voice of BRICS nations can also influence global dialogues. Brands today are conscious of aligning with larger global causes. For marketers, understanding and leveraging these global narratives can lead to campaigns that resonate on a deeper level with audiences.
- Global best practices
Education and skill development are integral to Brics collaboration. South African advertising professionals now have a chance to learn from global best practices and bring their expertise to the table. Such exchanges can elevate the standards of the advertising industry, making South Africa a beacon of excellence in the domain.
The question, of course, is will the local industry rise to the challenge?
