Saudi Arabia has undergone a significant shift in recent years, fueled by Vision 2030, a comprehensive plan to transform and diversify the economy. This shift has created new opportunities across all sectors, including marketing, and has paved the way for local marketing agencies to thrive and expand globally.
In 2021, the total advertising expenditure in the Middle East and North Africa (MENA) region was $5.07 billion, a 62% increase from 2020. This growth was driven by online advertising, which grew by 84%, and offline advertising, which grew by 47%. Saudi Arabia leads the MENA media market, accounting for about 30% of the total market share.
The Bold Group, Co-founded by Abeer Alessa, is a prime example of a successful Saudi marketing agency. Alessa’s journey to entrepreneurship began with her education, which she pursued in Bahrain and France. Armed with a diploma in Arts & Design from the Royal University in Bahrain and a Master’s degree in International Marketing and Business Development from France, Alessa returned to Saudi Arabia to establish Bold Agency in 2012.
Despite facing numerous challenges, Alessa successfully established Bold Agency as one of the first local marketing agencies headed by a female. Over the years, the agency has grown steadily, expanding from a boutique to a group in 2022 on its 10th anniversary. Today, The Bold Group consists of three independent units specializing in brand building, communication, and digital experiences.
Bold Brands, the brand creation unit, leverages local experience and international partnerships to build brands that are authentic, relevant, and differentiated. Bold Communications, the brand expression unit, uses the power of people, stories, and cultures to help brands move forward, delivering truthful and relevant modern content that works across all platforms and channels. Bold Experiences, the brand innovation unit, employs creativity and technology to build multi-sensory experiences that inject meaning, relevance, and emotion into the physical or virtual world.
The success of the Bold Group and other Saudi marketing agencies is a testament to the potential of the Saudi youth and their ability to compete on the global stage. By leveraging the opportunities created by Vision 2030, these agencies are driving the growth of the marketing industry in the region and beyond.
As the Bold Group expands its specialized units, offerings, and offices beyond Saudi Arabia, it is setting a benchmark for other marketing agencies in the region. The future of the Saudi youth is bright, and the country’s focus on inclusion and diversity is creating a supportive environment for young entrepreneurs to thrive and make their mark on the world stage.
In conclusion, the success of the Saudi marketing agencies is not only an achievement for the industry but also a testament to the country’s commitment to inclusivity and diversification. With Vision 2030 as a catalyst for change, Saudi Arabia is creating new opportunities for its youth to showcase their capabilities and compete on a global level. The success of agencies like the Bold Group is just the beginning of what the future holds for the Saudi youth.