Experts share their view of the communication, marketing and advertising sector

2024 is expected to constitute an interesting year for the field of communication, marketing and advertising, as assessed by the participants in the special supplement on Communication, published in the August 2024 issue of IN Business magazine.

As part of the special supplement, which you can read (in the original Greek) HERE, executives of important companies in the sector, having looked back on how they started and where they are today, do not hesitate to refer to their competitive advantage and how it helps their company stand out in a market gathering interesting prospects.

Challenges, of course, are not lacking in the era of rapidly evolving technologies and AI, but even these are being harnessed to the benefit of operations and therefore customers.

The heads of competent bodies and associations also spoke about the changes that have come about and others that are anticipated in the sphere of communication, giving a clear and unambiguous picture of the market.

• RONA KASSAPI - PRESIDENT OF THE CYPRUS RADIO TELEVISION AUTHORITY

How has the Authority's role been shaped on the basis of new digital state of play and how much have its priorities changed?

The new digital state of play finds the Authority facing a huge challenge, now having enhanced powers and responsibilities in the new role of National Digital Services Coordinator, which it has taken on.

The Authority, in addition to the broadcasting field, undertook the supervision and enforcement in Cyprus of the European regulation on digital services, which aims to create a safe, predictable and reliable online environment through the establishment of measures and obligations for online platforms, such as Meta, X, TikTok and Aliexpress and search engines such as Google and Bing.

The Media, always shapers of opinion, able to create or eliminate trends, perceptions and stereotypes, to criticise and control, exert even more influence in the digital age due, above all, to the ease of access, speed and immediacy that characterises them.

Our priority at the Authority remains the protection of the fundamental rights of citizens, especially minors, and the effective and beneficial supervision of audiovisual and digital services.

At the same time, the well-being of the citizens and also of those we are supervising. We are aiming for a modern Authority ready to adequately respond to its multiple roles and the rapid evolution of digital data.

• SOTEROULLA SOTERIOU - PRESIDENT OF THE CYPRUS ADVERTISING REGULATION ORGANISATION

What are the issues occupying the Advertising Regulation Organisation most at this time?

The Advertising Regulation Organisation is constantly dealing with issues related to the control of every form of advertising, operating with the aim of protecting the consumer.

More than 200 complaints about advertisements have been checked and examined by the Organisation’s Committees, which are handled responsibly, based on their relevant experience and expertise.

In this context we focus on the regulation of advertising by influencers. This March, as the Orgnisation, we consolidated our cooperation with the Consumer Protection Service through the signing of a memorandum of cooperation, aiming to inform consumers about the commercial practices of influencers on Social Media.

The first set of actions resulting from the said memorandum has already started with the publication of a guide for Influencer Marketing by the Organisation, which has been recognised as a best practice by the Consumer Protection Service and which contributes to the guidance of influencers and businesses for their legitimate mode of operation.

At the same time, informative actions are carried out, concerning businesses, regarding the legal and ethical obligations arising from advertising, while a corresponding information campaign is planned by the Organisation and the Consumer Protection Service for the consumer public in the autumn.

Finally, it is worth noting that we work decisively and with faith in our vision and commitment, as the Advertising Regulation Organisation, in order to ensure transparency and accountability in advertising.

• DESPO LEFKARITI - PRESIDENT OF THE CYPRUS COMMUNICATIONS AGENCIES ASSOCIATION

What are the biggest trends we're seeing this year in advertising and communications and what are they being attributed to?

The trends seen today are very sad, because many customers think that being online is enough. Where and when to advertise depends on the target audience of the product.

It is very important to analyse the consumer's wants as well as their habits, which Media he uses and which Media can best convince him. In Cyprus, unfortunately, trends do not change quickly and we must find ways to speed up the changes.

• LEFTERIS ATHANASIOU - PRESIDENT OF CYPRUS ADVERTISERS' ASSOCIATION

What are the challenges facing advertisers in the age of digital communication?

Today, digital communication plays a huge role in the promotion of brands. Within this digital environment, advertisers are required to face various challenges and be in a constant state of learning.

Some of the challenges are adapting to the continuous developments in technology and trends that change consumer behavior as well as approaching the right audience at the right time with the right content (personalisation).

An important issue is also the large number of digital channels on which brands are required to have a presence, resulting in an increase in costs.

At the same time, it is imperative to create authentic content that will stand out in a cluttered environment, where the consumer comes into contact with hundreds of messages every day.

Other challenges are, at the same time, the introduction of AI, the continuous monitoring and analysis of many metrics, insights and data and finally the correct allocation of the budget that will bring the greatest retrun on investment (ROI).

In addition, we are deeply concerned about the change we are seeing in consumer habits due to inflation and rising prices, which is creating new challenges for how advertisers operate.

In particular, they are asked to adjust their strategy by putting more emphasis on the value and quality that the consumer receives, on the customer experience and on the creation of strong trusting relationships.

Defining influencer marketing

• CONSTANTINOS KARAGEORGIS DIRECTOR OF CONSUMER PROTECTION SERVICE

Influencer marketing is a modern form of digital marketing, in which businesses collaborate with influencers, who, having the ability to influence public opinion, promote products and services on social networks.

The Consumer Protection Service, in collaboration with the Advertising Regulation Organisation, have set the goal of informing consumers and businesses about the commercial pursuit of posts by influencers on platforms and social networks.

So far, a relevant update has been made through the website and social networks of the Services and letters have been sent directly to the businesses that advertise through influencers.

In addition, the Advertising Regulation Association, with the Service’s support, has created a guide for influencer marketing, which was based on international standards and records two ways for due disclosure. It is worth noting that the European Commission has created a website with useful material for influencers.

What are the obligations that influencers have when posting content on the various Social Media, so that they are in compliance with the current legislative framework regarding consumer protection?

Current legislation provides that the information given to the consumer must not be untrue or omit essential information. Influencers should disclose whether the content they post on social networks is of a commercial nature.

Any promotion of a brand's products or services in a post that generates revenue or benefits for influencers must be disclosed as advertising activity and must also be clear to the consumer.

What is the future plan of action towards empowering and protecting consumers in this new challenge of influencer marketing?

The future promotional actions of the Service and the Organisation include conducting a broad information campaign aimed at consumers and making it easier for them to understand whether the posts of the influencers they follow are of a commercial nature, i.e. looking for #ad and related tags.

In addition, explanatory instructions to the influencers regarding the preparation of the content they post will be posted on the Service’s website and social networks.

After the influencers have been given time to take the appropriate actions regarding their obligations, in the autumn, within the framework of the application of the current legislative framework, we will proceed with checks on the influencers' posts.

(Source: InBusinessNews)