Experts task practitioners on consumer-centric strategy for growth
By Abimbola Mohammed
Experts in Nigeria’s marketing communication industry have spoken on the need for brands and marketers to be more consumer-centric in their offerings by giving value to consumers.
The call was made at the just concluded Annual Brands & Marketing Conference 2022, organized by the Brand Journalists’ Association of Nigeria (BJAN). The event was held at Oriental Hotel, Victoria Island Lagos, with the theme: “Brands and the Role of Technology in a Disruptive Economy”.
Speaking on how being a consumer-centric brand aligns with making profit as a brand, some notable speakers, during the panel session, said even though the goal of every business is to make profit, businesses should also deliver value and also put in consideration the needs of their consumers.
According to Chineze Amanfo, Lead Public Relations, 9Mobile, in making profit as a business, the consumers’ need should be prioritized.
“The goal of any business is to make profit, and then you can’t make profit if you don’t have customers. Firstly as
a brand, you need to identify your goals, and while designing your product and services, identify the needs of your customers. They should be tied to your organizational goal,” she said.
“Consumer-centricity is all about putting your customers first. In as much as it is right and good as a business person to make profit, you also have to bear in mind that in making the profit, if you don’t treat your customers well, you will lose them. After identifying all these, you need to also consider how you are carrying your consumers along. There is need to find a balance between making profit and addressing their need,” Amanfo added.
On his part, Femi Falodun, Chief Executive Officer, ID Africa, noted that value, data and insight to data is the key to achieve brand goals.
“Looking at big brands that are high up there like Amazon and Google, what makes Amazon valuable and so successful is that they are customer obsessed and they offer convenience. For Google, it organizes the world’s knowledge and that is why the company is so successful because with internet connection you can get answers to practically everything and that value. So at the end of the day, it is all about value. If we deliver value to customers we can actually charge them a premium or at least a fair price. So whether they are GenZ, Millennials or Generation Alphas, people just want convenience and value or at the end of the
day,” he said.
Falodun added that a business that listens to its customers through data, gets insight of what the customers want, how they want it, where they want it, and when they want it, will always deliver value and get value in return.
“It’s not about the data but the insight you get through data that will help determine the kind of product, prices and how you deliver it to the customer. It is an evolving cycle. Businesses should keep their focus on consumers and how to satisfy them. Charge the appropriate price, deliver value and get value in return,” he said.
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