Saatchi & Saatchi remains optimistic its advertising business in the Philippines and across Asia Pacific will continue to grow despite the sluggish economic performance of most economies in the region.

Faced with extreme uncertainty, advertisers in most sectors planned for the worst and cut their advertising and marketing budgets in anticipation of steep drops in their revenue. Some major advertisers are rationalizing and consolidating their advertising and marketing efforts, using fewer agencies and reducing media values and exposure.

While Ian Rowden, Chairman and CEO for Asia Pacific of Saatchi and Saatchi, expects a slight dip in overall advertising spending in the region this year, this trend will only be in the short-term.

“This reduction in ad spending is something we have already factored-in,” he explained, “In fact, many of the developing markets in the region are still posting positive growth in ad spending.”

In fact, increased cost-consciousness helped the advertising and marketing sector realize that it is not enough to bombard consumers with catchy images and advertisements, Rowden pointed out.

“At Saatchi & Saatchi, we believe consumers don’t want to be just informed or entertained. They insist on innovation, vitality, transformation and change that make them feel more secure and happy. They want to be inspired. Their decisions are touched by emotion.”

“We have also reframed the way we do business,” he added. “Our mantra covers three core themes: consolidation, simplification and speed. The current economic and commercial challenges require levels of stamina and imagination not faced before in business. Business survival will be driven by sustainability, authenticity, trust, love and new ideas.”

For the Philippine market, Ace Saatchi & Saatchi expects to post a moderate growth in agency revenues,in line with the resiliency and positive prospects for the economy and business in general.

“Our clients have simply become more prudent and careful with how they spend,” explained Matt Seddon, Ace Saatchi & Saatchi Vice Chairman and CEO. “Everyone wants advertising and marketing plans to make them more effective and relevant, They want to do more with less.”