ADVAN innovation day: experts discuss future of marketing trends, metrics
The Advertisers Association of Nigeria (ADVAN) has held its maiden edition of its ADVAN Partners Innovation Day, a landmark event that brought together key stakeholders in the marketing and advertising industry, including brands, marketing agencies, and brand support organizations.
Held on Thursday, November 28, 2024, the event aimed to explore the role of innovation in driving marketing effectiveness and fostering collaboration across the ecosystem.
One of the day’s highlights was a panel session themed “Unleashing the power of innovation for marketing effectiveness.” Esteemed industry leaders, including Maureen Ifada, Marketing Director of FrieslandCampina; Stanislaus Martins, President of the Association of Digital Marketing Professionals in Nigeria (ADMARP); Maurice Igugu, Chief Marketing Officer of Sterling Bank; and Elo Umeh, Founder and CEO of Terragon Group, led the conversation.
During the session, panelists delved into the transformative role of innovation in shaping the future of marketing.
Maureen Ifada emphasized the growing influence of artificial intelligence (AI) in marketing but cautioned against losing the human storytelling element that forms the bedrock of authentic consumer connections.
“AI should enhance marketing, not replace the core of storytelling,” she noted. She also highlighted trends such as influencer marketing and the rising dominance of short-form video content platforms like TikTok and Instagram Reels, demonstrating the platform’s cross-generational appeal.
Stanislaus Martins, focused on the importance of marketing metrics, stressing the need to measure the effectiveness of innovation through clear objectives. He pointed to metrics like customer lifetime value (CLV) and engagement rates, which provide tangible insights into campaign success. He said, “It’s about aligning campaign goals with measurable outcomes and leveraging the vast potential of digital platforms to track real-time performance,” Martins explained.
Elo Umeh, shared his experience in marketing technology, emphasizing the incremental value of innovation in scaling existing solutions. He highlighted how Terragon’s pioneering research reports on mobile advertising created awareness and established thought leadership within the industry.
“Innovation doesn’t always mean groundbreaking change; sometimes, it’s about making small but significant improvements to existing frameworks,” he remarked.
Umeh also called for a culture of experimentation, citing global examples like Google’s 20% rule, where employees dedicate time to pursuing passion projects, often leading to groundbreaking innovations.
Maurice Igugu stressed the need for marketers to embrace data-driven strategies. “We are generating more data than ever before, and marketers must harness this to build actionable strategies. AI can help simplify vast datasets, but the real value lies in translating that data into impactful marketing outcomes,” he said.
The ADVAN Partners Innovation Day provided an essential platform for collaboration among stakeholders. ADVAN expressed its commitment to fostering an environment where brands, agencies, and support organizations can share insights, discuss challenges, and chart a path forward for the industry.
The Advertisers Association of Nigeria (ADVAN) represents the collective interests of organizations that engage in brand communication in Nigeria. ADVAN is committed to advancing best practices, fostering innovation, and creating value within the marketing ecosystem.
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