Blend traditional and digital media to optimize marketing budget- Jude Odia
By Oghale Mafuru
The marketing and advertising ecosystem is experiencing a dynamic shift as new technologies are disrupting every facet of the marketing mix. It is against this backdrop that the Managing Director of Starcom Media Perspectives, Mr. Jude Odia has reiterated that a perfect blend of traditional and digital media is imperative to optimize marketing budget as inflation continues to rise amid declining purchasing power.
Speaking in an interview with MARKETING EDGE, the agency boss who affirmed that agencies should be powerhouse of ideas with deep insights into how both platforms can be efficiently utilization for marketing communications stated that it is expedient for professionals to provide 360 degree solutions to deliver on clients expectations to assist clients mitigate the economic challenges.
He said: “For me, it is a blend of the digital and traditional. We started off as a traditional agency some years back. Today, it is a cross-road for us. What I mean about a cross-road is that it is a perfect blend of traditional and digital because none of them is going to die and none of them alone can survive and meet your objectives. The only thing you need to do is to master how to blend them well to meet the goals because the consumer is watching traditional media and digital. However, he is not watching it the way you want him to. He is watching it the way he wants to watch it. So, the question is the more you understand him, the more you know how to get the mix. So here is where you get the right mix all the time. The capabilities are there for established offerings and emerging offerings. We are doing this so we will not have relevance for now but we will grow relevance for even developed and untapped opportunities”.
According to him, to ensure that clients get the return on investment especially with the current economic challenges, it is vital for the agencies to maximize advertising budget by focusing on areas of growth potentials which can be discovered through deep consumer insights and data.
Commenting on how clients are rethinking their marketing spend, the agency boss asserted that advertising spend is shifting rapidly to digital platforms which are perceived to offer measurable and reliable results and data to prove value of advertising spend.
“A lot of clients before were doing 70% traditional media and 30% digital, this year, they are doing 60-40. 60, digital, 40 traditional. That doesn’t mean they won’t meet their top of mind objectives or if there is correlation to sales or marketing. It is just that they have been able to streamline who we are talking to. How well can we connect to them? If it is digital, let’s optimize it. Put the money in that one channel, optimize it first. If there is more money, you go to the second”.
While stating that brands should be more innovative and proactive to survive the harsh economic realities, Jude Odia, advised them to create special offers and packages suitable for the mass market as latest statistics has shown that over 113 million Nigerians are multidimensionally poor.
“They should now bother about conversion against awareness and engagement because those ones are very expensive. conversion may be expensive but there is direct value for money. The return on investment is much more. Brands are beginning to have premium mass marketing. The bulk of the consumer today is the mass market. 133 million of our population today is multidimensionally poor.
“The mass still constitutes the biggest segmentation which means that for you to really survive as a brand, you have to have a share of that mass. But mass doesn’t want to remain mass. They are aspirational, so how do you make them feel special and make them begin to see themselves as consumers of luxury brands even when they are using their mass market budget to get it. That is another innovation people need to tap into. That bracket will keep growing. The question then is what then is the future of luxury brands in a market like this? he asked rhetorically.
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