Redefine brand value as economic enabler, solution provider – IAA
By Felicia Nwosu
The need for brands to go beyond business as usual and be seen as solution providers and economic enablers to support consumers in navigating through the Covid-19 pandemic era formed the basis of discussion at the IAA’S Interactive Regional Conference. Focusing on the theme: “Why Brands Matter in Africa”, the virtually held interactive discussion kicked off with speakers highlighting on how impactful and responsive brands can be in restoring the hope of consumers and customers. This, they argued, can be achieved when brands put their purpose into action in the context of the pandemic.
Patrick Akinwuntan, the Managing Director of Ecobank Nigeria, in his speech, stressed the importance customers to his bank, which is why the bank moved from being a financial institution to a platform for enabling financial solution and economic development through a response framework.
According to him, the Ecobank was able to leverage African platform to give financial access for local customers to thrive in their businesses during the peak of the pandemic. In cushioning the effect through this initiative, the bank, he said, became a shoulder to ride and lean on in helping its customers achieve their purpose beyond their financial needs.
The Pan-African bank boss put forward that it is the role of brands to act as enablers and solution providers by thriving to ensure that they meet the touch-points of their customers, especially during crisis. He pointed out that it is only achievable by engaging in various sustainable projects that eased their pains.
Mr. Akinwuntan added that, as a consumer-centric bank, Ecobank also invested in technology to enable it offer seamless and ceaseless services across the 36 countries where its presence has been registered on the African continent, to reduce the challenge of physical contact.
“We were able to become an enabler, having partnered with NEPAD, by leveraging technology to improve their businesses through easy access to lighter version of different business packages of transactions in Nigeria.”
The banker also explained how his bank stepped forward with support to health workers and internally displaced persons (IDPs), in bringing inclusion with all forms of support to meet their daily needs proactively. This, he noted, was made possible through the Annual Ecobank Day, an initiative which focuses on health and other areas that affect families who are, at the same time, the bank’s customers.
Another panelist, Bernice Samuels, Group Head of Marketing, MTN Group, said that MTN’s DNA revolves around people, planet and place. The marketing expert explained that it includes building hopes for the future and how brands view the world through its impact. She stated that MTN was able to achieve the feat at the outbreak of COVID-19 by caring and showing compassion to customers through various initiatives such as introducing cheaper phones and reduction of price in data consumption. Mrs. Samuels maintained that all brands have the same potential as solution providers, no matter the size.
“With the arrival of COVID-19, we began to ask: what do we do to take some of the pains away from the customer? So we introduced a number of initiatives to provide some level of stability to assist them through free sms for them to reach their families and find out how they were doing, and about 278 million people were touched. Also, through partnership with African Union and the government, the MTN Foundation was able to support with vaccination. ”
She also mentioned that the transformation driven by the pandemic led MTN to accomplish a 3-year old plan project within a year as a means of sustainability project.
For Folake Ani-Mumuney, Global Head, Marketing Corporate Comms, First Bank Limited, the change that came with the pandemic also came with the ability to meet the purpose of customers by brands that were able to respond accurately to their needs woven around its brand purpose. She noted that decisive leadership is key in stepping up and tapping into the role of brands, outside the purview of its statutory roles.
The FirstBank marketing egghead narrated the impact of joint efforts by banks and regulators to ensure that immediate responses were delivered, which she attributed to decisive leadership roles. With this, according to her, the bank was able to consider the best way to support and make positive impact on customers’ businesses, both immediately and in the future, while having its brand purpose in mind with the aim to help consumers act with resilience during the pandemic.
According to her, the FirstBank brand understands the importance of education, and therefore introduced online learning in partnership with Edutex space, by taking learning to various platforms through the launch of the “Leave no one behind” initiative. She advised that, for brands to continue to matter in Africa, they must act as enablers in the survival of their customers, while emphasizing the need for collaboration among brands and the government.
“We must collaborate to get interventions by looking for partnerships that go beyond brand. We must also do things differently by looking at the lens differently to redefine brand purpose and to make an impact that matters to customers,” she noted.
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