Expert Canvasses New Business Model in Ad Industry

01 Apr 2013

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Chief Executive Officer of Verdant Zeal, Tunji Olugbodi

By Raheem Akingbolu

The Chief Executive Officer of Verdant Zeal, a marketing communication agency, Mr. Tunji Olugbodi, has said to ensure a promising future for ad industry, admen need to change their business models.

Speaking at the first edition of The Sunday Brunch against the backdrop of various challenges plummeting the fortune of most ad agencies such as economic crunch, over-demanding clients, global affiliation rifts, Olugbodi tasked ad agencies, especially the young practitioners, to look inward and embrace a business model that will absorb challenges being faced.
The Sunday Brunch brings industry leaders various sectors of the economy to discuss and address challenges facing young professionals from a chosen field of discourse.

During the first edition tagged: The Future of Advertising is not in Advertising, Olugbodi tasked admen to get trained not only in creative but also on how to manage resources and business generally. “You need to be trained in the art of managing money and business. Building a great ad agency goes beyond being creative.

“No matter how creative you are, you need to be able to manage your business, resources, personnel and so on,” he said. He also advised young admen aiming to start up to also diversify when they make money from jobs.
Citing the case of his agency, Olugbodi stated that; “When you make money, invest in properties. When we started at Verdant Zeal, a lot of banks shut their doors. Now, they are begging us for account. When we made money from jobs, we bought properties. So, when you have got a great job that worth it, you can use it as collateral.”

He, however, challenged the industry on the growth in Nollywood and the Nigerian musical scene, which has received global rating and acceptance. Olugbodi said for them to reach this level, the industry creative egg heads should be original in their creatives, rather than copying western style of speaking among others.

Tags: Featured, Nigeria, Business, Tunji Olugbodi

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