How advertisers can leverage Q3 to achieve set goals
By Olatoyosi Oladapo
A call has come from President of the Association of Digital Marketing Professionals (ADMARP), Stanislaus Martins to advertisers, to reposition themselves to effectively maximize the opportunities that will come in the Q3 of this year.
Martins, who is the Regional Meta Director, SSA for Ad Dynamo by Aleph, stated this during a recent chat with MARKETING EDGE where he admitted that Q1 and Q2 had their own share of challenges.
“Q1 was a tricky half. It started with the slowing of marketing spend due to uncertainties around the elections by several advertisers. Q2 climaxed into the instability recorded as a result of the removal of fuel subsidy and the floating of the naira by the new government.”
The seasoned Digital Marketer advised Integrated Marketing Communication (IMC) practitioners that, to effectively maximize Q3, certain questions have to be answered.
He continued, “As we commence a new quarter, there is no one-size-fits-all for advertisers. All CEOs, Marketing Directors, and brand custodians will have to evaluate the impact the new policies will have on their brands and also on consumer behaviour. These changes have not only impacted purchasing power but also sentiments and market dynamics. What are your consumers saying and how are they behaving? What insights are you gathering from the streets, from your online and offline channels,”?
Noting that these insights should shape advertisers’ marketing campaigns going into the last half of the year, Martin’s said a lot has changed from Q4 last year when most of the core marketing plans of brands were firmed up.
“Does our marketing campaign stand the test of the last few months? If not, it is time to adapt. Do you need to move your marketing budget around? Do you need to reallocate to more “friendly channels”? Was TV your number one channel? Does a potential hike in electricity tariff mean people will watch TV less? Should budgets move more to social media and other digital channels, which are more sticky and “pocket friendly”? These are just some questions brand leaders need to ask and get answers to,” he further posited.
Martins further explained that marketing budget cut could be an opportunity, adding that, “While I hear a lot of talks about marketing budget cuts as a result of the policy changes, I am personally of the opinion that this is the time to stay on course or increase your marketing budget. Why? You might ask. Well, your competitors will most likely be cutting their budgets.
“This presents you with an opportunity to actually grow your market share as a result of reduced competition. This is the time to build brand trust with your consumers and also seize new opportunities while the competition panics. Let us embrace these uncertainties as a catalyst for innovation and brand growth. There has never been a more exciting time to be in marketing communications. Let’s stay agile.”
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