2023 has not been a vintage year in Lebanon. What is the new normal for you, and what practices have changed in your agency to attain a new modus operandi compatible with the current state of the market? What is needed to re-build a prosperous and thriving industry that resembles for instance the one of the golden age of advertising in Lebanon? 

In Lebanon's business landscape, the prevailing uncertainty, despite occasional glimpses of stability, has created a challenging environment. Despite this, TBWA maintains faith in Lebanon's market potential and, therefore, invests in innovation and creativity tailored to the market's needs. We believe in the future prospects of Lebanon's market and are committed to navigating its complexities. However, revitalizing the advertising industry to mirror Lebanon's golden age demands collaborative efforts, investment in skilled individuals, and the adoption of modern technologies with a dedicated focus on innovation. TBWA's strategic priorities include ensuring transparency and ethical standards, recognizing these as fundamental assets crucial for reconstructing trust and securing industry growth.

Navigating the intricate relationship between the advertising industry and the country's economic state poses challenges. To adapt to the evolving landscape, TBWA has embraced agility and flexibility. While AI adoption remains limited among Lebanon's clients, some still value traditional creativity. TBWA's team adeptly combines both techniques to cater to diverse client preferences.

Various obstacles, including currency devaluation, inflation, and financial instability, arise continuously. Economic uncertainties, the spread of fake news, and global events have disrupted consumer behavior and impacted local market expenditures, influencing our marketing strategies.

Despite these challenges, TBWA\RAAD Lebanon has not only weathered the storm but emerged stronger. Our resilience stems from flexibility, innovation, and proactive responses to market shifts. We remain committed to exploring new avenues, fostering creativity, and implementing strategies that empower us to overcome obstacles and thrive in a dynamic business landscape.

What are the biggest factors that you think will affect your planning in 2024?

The political factors and threats that emerged since the end of last year, along with the unfortunate situation in Gaza, have significantly impacted the current market. This has instilled fear and created an unstable environment across the region, leading to a contraction in Lebanon's market, with numerous agencies competing for the same existing clients. Despite the challenges, TBWA has positioned itself competitively.

   Moreover, the continuous occurrence of distressing events has taken a toll on consumers' mental, emotional, and financial well-being, reducing their willingness to spend or engage in productive activities. The threat posed by our country's political situation, in addition to the absence of a presidential figure presents a significant risk. These factors contribute to market fluctuations and occasional collapses, restricting our clients' budgets and influencing the purchasing power of consumers as they grapple with the constant changes and uncertainties in their daily lives.

Looking ahead to 2024, these critical factors have compelled investors, marketers, and agencies to reallocate their resources, diversify their strategies, and explore alternative revenue streams. Recognizing the significance of the digital era and social media, as well as the trend of AI is crucial for staying relevant in Lebanon's evolving landscape. However, these shifts have significantly slowed down the market growth rate, requiring considerable effort and persistent dedication to navigate the challenges posed by each threat. Overcoming these hurdles demands time and concerted efforts after every disruptive event.

What key trend you believe will disrupt existing global marketing practices in 2024? 

An emerging trend in 2024 demands attention, requiring marketers to adapt to new sources of growth. One of the prominent challenges is the increasing influence of artificial intelligence (AI), which our agency has strategically invested in for the benefit of our clients.

 "Despite these challenges, TBWA\RAAD Lebanon has not only weathered the storm but emerged stronger. Our resilience stems from flexibility, innovation, and proactive responses to market shifts."

Can you say that we are back to ‘business as usual’ in Lebanon? If so, what triggered this ‘normality’ again? And what is still slowing the business?

Lebanon is gradually returning to business as the economic situation triggers investors to introduce new services and "made in Lebanon" products for export to the MENA region. Our role as an advertising agency involves creating effective strategies to assist clients in reaching international markets.

Despite facing challenges, such as tight budgets and cost constraints, TBWA successfully navigated the landscape, particularly in impactful social campaigns for CMC, 1750, Talaya, among others. The positive outcomes and increased client confidence have led to a shift toward higher budgets in 2024, with new clients adding to the positive momentum.

Reflecting on our work in 2023, 70% focused on impactful social campaigns, while the remaining 30% included mainstream TV and outdoor advertising for both private and public sectors. TBWA's objectives for 2024 are centered on expanding our client portfolio in the region, generating growth, and successfully navigating market dynamics while attracting more customers. We aim to leverage our innovation and disruptive ideology to foster growth for our clients without compromising on creativity.

What are your top priorities as an agency for 2024 in terms of business objectives?

In conclusion, our top priorities, amidst ever-changing parameters, include serving our clients to the maximum, adapting to their evolving needs, and staying ready for new challenges. We emphasize regular flexibility to tailor our services according to our clients' needs. TBWA is strategically prepared for the challenges of 2024, seamlessly blending traditional and modern advertising. We view obstacles as opportunities and, with a commitment to disruptive ideas and resilience, aim not only to navigate challenges but to lead the industry into a brighter future in 2024 and beyond.