New think tank sets out future focus for advertising industry

17 November 2010

A new think tank, Credos, has been launched to deliver independent and objective analysis of the key challenges facing the advertising industry.

Credos is funded by the advertising industry and overseen by a board that includes Nick Chater, Professor of Behavioural Science at Warwick Business School; Will Hutton, executive vice chair of The Work Foundation; and James Best, Chairman-elect of the Committee of Advertising Practice.

In its first research study into public attitudes, the newly formed think tank found that over half of respondents (55%) say they are neutral towards advertising and a quarter (27%) harbour some negative feelings. Credos has also undertaken research among a range of opinion formers including MPs, NGOs and academics.

These studies have identified four priority areas that Credos believes the industry must focus on to ensure it is fit for the future.

1. Advertising to children

Advertising and marketing to children provokes strong emotions. While significant protection is already in place, Credos will identify further research needed to improve understanding of advertising's impact on children and young people, and how that translates into responsible practices.

2. Uncovering advertising's value to the economy

Advertising’s broader impact on the economy is poorly understood. Credos believes the industry needs to find better ways to measure its role in driving innovation, choice, jobs and growth. This will be a key focus for the think tank.

3. Advertising's creative contribution

Advertising’s ability to foster and support creative talent and content is recognised and valued by some, but not as widely as it might be. It is a significant aspect of the industry's contribution to making the UK a highly competitive economy. A concerted industry strategy to deliver support for growth in creative industries would be a hugely influential step. Credos research will uncover where the priorities for such a strategy should lie.

4. Creating broader understanding

Credos believes the advertising industry must open up and better explain how it operates as a responsible industry. It will aim to provide new thinking on what people want to hear and see from the industry, and how the advertising community can create better understanding of how it regulates itself.

Karen Fraser, director at Credos, said: "This is a time of great change, for the advertising industry and the wider economy. Credos will be an honest and critical friend, providing the industry with an objective voice on the key challenges it faces. Over the coming months and years our analysis should help to shape the industry's response to these issues."

Credos has been set up by the Advertising Association as part of its role to promote and protect advertising, communicate its commercial and consumer benefits and seek the optimal regulatory environment for the industry.

Welcoming the launch of Credos, Tim Lefroy, chief executive of the Advertising Association, said: "Credos will tell it straight, the good and the bad. The insight they provide will enable us to mobilise our industry into action. We must take this opportunity to prove advertising’s value; to the economy, society, and British culture."

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