Friday Sep 20, 2024
Friday Sep 20, 2024
Wednesday, 19 March 2014 00:59 - - {{hitsCtrl.values.hits}}
UK-based Boulding who first visited Sri Lanka in 2007 with the country fighting a war, said he was impressed by the improvements post-war and the buzz in and around the city with so many new hotel brands such as Shangri La, ITC, Hyatt, coming up and others expanding or modernising. “This is a good sign,” added Boulding who also toured Kandy and would explore down south during his stay.
The networkone founder is in town on an invitation by Triad, which is the first and so far the only Sri Lankan independent agency member of the prestigious international grouping which offers global advertising and communications solutions via the 750-strong membership in 106 countries. The combined gross billing of the members of networkone is estimated at $ 50-60 billion. Triad joined the network in 2007 after its Joint Managing Director and Brand Strategist Dilith Jayaweera met Boulding at Cannes Awards, the world’s most coveted global communication awards show.
Varuni Amunugama Fernando, the agency’s other Joint Managing Director recalled that they embraced the networkone with the belief that the membership will new open new opportunities of global reach without compromising the company’s local ownership.
She said steadfastly patriotic and committed to offer world class solutions to local brands, Triad felt this synergy with networkone will be a perfect way to fly the Sri Lanka flag high in global markets.
Triad, which recently turned 21, had sought networkone’s insights and tapped its members when executing a campaign on behalf of the Central Bank of Sri Lanka.
Boulding as well as Varuni acknowledged that membership with networkone, which costs around $ 3,000 per annum, ensures smaller and independent advertising agencies, (as opposed to those who operate as a global network), a platform to find reliable and trusted partners in foreign markets on a very transparent way. The network also passes on relevant inquiries/referrals of interested clients to its members.
“I won’t say it is a network of inter-dependence but one that is empowering independent agencies to work with the best or like-minded counterparts in member countries,” Bouldings pointed out. He said that the network enables independent agencies cost efficient partnerships, reach and expertise. This is primarily because independent agencies are run by self-made entrepreneurs with a passion to be different via local creativity, insights and talent.
Boulding said he was inspired by independent agencies such as Triad and paid a tribute to Lankan firebrand agency’s “Sri Lanka Can” spirit. He also emphasised that it was not necessarily in the client’s interest to be big i.e. multinational networks/agencies.
Varuni said as a fully fledged member of networkone, Triad has access to required global learnings and professional know how. Furthermore as and when the need arises, independent agency support in respective markets can be obtained via the network.
“As and when the requirement demands, for an independent agency, the networkone reach becomes a lifeline. The sheer accessibility to a global chain is a necessary benefit, when serving clients who have international needs and consumers or stakeholders. The network enhances the local agency’s stature and reach, creating an opportunity for a local agency to pitch against a multinational counterpart. As Sri Lanka’s first ever member in networkone, Triad will encourage entrepreneurial local ad agencies to get onboard and benefit from the cross section of mutually rewarding benefits,” Varuni added.
Both Varuni and Boulding were of the view that with post-war Sri Lanka’s global profile vastly improving for business, trade and investment wooing many global and regional brands as well as Lankan companies exploring opportunities overseas, spirited and talented small or medium size independent local ad agencies can stand to benefit by joining networkone.
“Marketing communications industry works in a “momentum business” be it on the up or down. Brands and companies need to communicate not only information or value but also built reputations in the way consumers will understand,” said Boulding whose initial global career in advertising included 14 years at DMB&B, now part of Publicis.
The global ad community comprises of network agencies, which are large agency houses with offshore offices in select countries. These agencies work on a management fee from the offshore agency and share knowledge and professional resources. From their annual revenue, a sizeable percentage is repatriated as a fee to these network agencies. Varuni said in the case of a network of independent agencies however, there is no management fee that is sent out of the country to an owning network. “While the agency remains completely independent, a membership fee connects each independent agency to one another in the global network. Working relations are very flexible and individual country insights can be obtained by working with independent indigenous communication companies,” according to both Varuni and Boulding.
