The annual Cannes Lions event is another name given to a creative festival where many top tech experts come together. For this year’s annual gathering, many traveled to France and that’s where Ryan Roslansky who is LinkedIn CEO was seen talking about something he thought was pretty serious.
Ryan mentioned that it’s a little shocking to see the number of creative skills drop by 17% in the advertising industry and that’s a remarkable difference when comparing the stats seen over the last 5 years.
If you happen to be part of the lot who keep wondering who and why it matters, well, the answer is simple. You can’t emphasize technical and data skills at the expense of those with creativity.
Remember that this industry continues to lose as many creative minds as it managed to gain, compared to various other sectors.
If you want to trust the exact numbers, you’ll find out how the advertising industry managed to lose nearly 6% of what it earned. Meanwhile, we see that the tech industry is gaining about 24% more people than it has lost over the same period.
A decline in creativity and its related skills crossed the 32% mark. Whether it’s branding or design, or even skills related to developing a creative strategy, the numbers are in stark comparison to how we’ve seen a 48% increase in various technical skills. .
Simply put, the number of creatives hired in 2015 was equivalent to that seen in the technical field. But when we compare these results in 2021, each creative person hired was equivalent to 1.25 technical experts hired.
While some technical analysts sitting in the audience may see this as a natural phenomenon related to the digitization of the modern world, we are hiring more or less technical skills at the expense of a loss of advertising skills. And in this way, ad agencies will soon lose sight of some great business models.
Ryan says one of the biggest losses could be related to B2B companies that require the highest level of creativity to make an impact in the advertising industry. Only then can they compete with huge rivals like Coca-Cola or maybe Nike.
The LinkedIn CEO added that these companies are where transformational growth lies and that’s why we need to make sure they are empowered with creativity. Remember, last year the success of tech IPOs was all about BTBs and this trend can only continue if we value creative talent for the core skill that it is.
Ultimately, Ryan added, some of the biggest names in the industry struggled to improve. And that’s already stopping the growth opportunities for today’s advertising industry.
Therefore, the take-home message from the speech was simple: there is a clear shift in the industry and standards today. Brands need creativity as much as great technical skills. Only then can we expect businesses to deliver a new generation of success and growth.
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