“It's not just about facing obstacles but about evolving alongside the market conditions, demonstrating our commitment to resilience and flexibility in a field that demands constant adjustment,” asserted Katia Yasmine, Managing Director, TRACCS Beirut. She explains how In Lebanon, the notion of being "back to business as usual" holds a particular meaning for the team at TRACCS.
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?
In 2023, Lebanon encountered numerous challenges, and as an agency, we recognize that navigating obstacles is a recurring theme. Every year brings unique circumstances that prompt us to redefine our approach to work. Our new normal can be best described as adaptability, a quality that has become essential in our operations. The nature of the market in Lebanon is dynamic, subject to shifts during challenging times, and our practices mirror this dynamism. We prioritize adaptability, ensuring that our strategies and methods are in sync with the changing state of the market.
It's not just about facing obstacles but about evolving alongside the market conditions, demonstrating our commitment to resilience and flexibility in a field that demands constant adjustment. Moreover, our agency has embraced a transformative mindset, aiming to turn challenges into opportunities. Since 2019, we have consistently tweaked and adapted our approaches to not only navigate difficulties but also capitalize on them. This proactive stance has allowed us not just to endure challenges but to uncover potential opportunities within them.
Can you say that we are back to ‘business as usual’ in Lebanon? If so, what triggered this ‘normality’ again?
In Lebanon, the notion of being "back to business as usual" holds a particular meaning for us at TRACCS. The reality is that we've never truly stopped; despite the challenges since 2019, we've continued our work. The resilience within our team has made facing bumps along the road a part of our journey rather than an obstacle. Our perseverance, combined with hope for the country and a dedication to fostering business growth, has turned the idea of 'business as usual' into a constant for us.
What is still slowing the business?
While we embrace this sense of normalcy, it's essential to acknowledge that business in Lebanon remains slow and unpredictable. The ongoing instability within the country has undoubtedly posed challenges, and navigating through these circumstances has become a learning experience for us. Despite the challenges, our adaptability and determination propel us forward, and our focus on continuous growth remains undeterred. In essence, the 'normality' we maintain is a product of our resilience and an unwavering belief in Lebanon's potential for progress.
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?
Rebuilding a prosperous and thriving advertising industry akin to Lebanon's golden age demands a strategic approach. Priority lies in securing stability across the political, economic, and social sector, creating a foundation for renewed confidence and growth within Lebanon.
While it is understandable why the youth and entrepreneurs are leaving Lebanon, the return of skilled individuals is important to provide the industry with fresh expertise. At the same time, tackling economic challenges like inflation and unemployment is crucial for the overall health and development of the industry.
Additionally, to attract regional and international investments, rebuilding trust and a stable environment in Lebanon is essential. We must build opportunities for foreign investors to seek interest in our country.
Addressing these aspects collectively forms the blueprint for Lebanon to recreate the vibrancy and success of its advertising industry from the past.
How concerned are you about the economic picture?
We acknowledge the ongoing economic challenges, and while we do have concerns, our stance at TRACCS is one of resilience and determination. Despite uncertainties in the economy, our commitment and passion for the industry, along with the dedication of our team, propel us forward.
Instead of letting challenges dictate our course, we redirect our focus toward seeking opportunities and envisaging a brighter tomorrow. Our collaboration with international and regional brands does not only give us hope but also plays an important role in shaping our strategic planning and forward-thinking vision.
Our dedication to remaining functional, strategic, and optimistic positions us to navigate the economic terrain with adaptability and perseverance throughout 2024.
What are some of the emerging threats marketers will face as they look for sources of growth in 2024?
In 2024, marketers in their search for growth are facing threats and transformative trends. The rise of technological advancements, particularly in AI, offers promising prospects but requires strategic integration within companies to fully leverage these innovations.
At the same time, the shift in internal systems poses challenges, notably a potential decrease in human capital. The ability to adapt to external changes and intelligently operate within this revolutionary world is important.
In this environment, smart strategies and agile approaches will be key for marketers to effectively navigate the evolving global marketing practices of 2024.
What are your top priorities as an agency for 2024 in terms of business objectives?
In 2024, TRACCS' top priorities in terms of business objectives revolve around strategic expansion and adaptability to meet the evolving demands of the market. We are opening doors to regional and international markets by collaborating with multinational companies, fostering strong relationships with local entities, and contributing to the growth of Lebanon's communication field.
Our strategy emphasizes a vision that extends beyond local borders, where we actively contribute and participate in the regional landscape. This approach ensures that we stay ahead of industry trends, offering our clients innovative solutions and maintaining the positioning of TRACCS at the forefront in the communication field.
