I see exponential increase in BTL in 2023 – Akindele
By Felicia Nwosu
Oyedeji Akindele, Head of Strategy, Abelinis Limited, has averred that Nigeria’s experiential marketing will experience an exponential increase following the quick recovery recorded from the pandemic as a result of practitioners’ resilience and rethinking of business models and operations.
Akindele, in an exclusive interview with MARKETING EDGE, Nigeria’s leading and foremost brand centric magazine, said 2022 was turbulent year for the once vibrant and entertaining sector but that professionals were quick enough to adopt several measures to contain the adverse effect through innovative concepts and re-designed work processes. He added that the outgone year saw some growth and positive performance ware recorded. He however that 2023 business outlook presents far-reaching marketing growth opportunities especially as it is an electioneering year.
“The market size of the experiential in the last two years dropped a bit but currently with the changes in consumer’s needs, I see an experiential increase in BTL as many brands are moving into the space. I will say that the projection for this year is going to be a bit high, but it is going to happen after the election. I will say about 30%, this is because, I found out that banks are now doing experiential marketing, fintechs are also doing experiential marketing, so majority of them are reducing the billboards, they are reducing some of the spends they do on other platforms and are now bringing it into the experiential space, because they need to take it brands to the consumer and this is because they can get the feedback immediately, so there and then, you can tell someone to download this app and experience the brand one on one.
Akindele also reeled out some key trends and activities that will shape the experiential marketing landscape in 2023.
One of the trends that will accompany this year in experiential space ChatGPT analysis, I see some brands are now working with data, nobody is going into an assumption space anymore, so I believe that data analytic is going to come in this time. Also in terms of virtual reality, some form of integration of the digital space into experiential activities. This is because Nigerians get bored easily, with that well factored, with everyone always on their phones those are the kind of activities we will be seeing, we will be seeing some unique creative like never before. The only problem I have is budget from the clients which is what most of the digital agencies are currently facing because you cannot propose an idea without considering these factors.
“We will also see brands dropping agencies while new agencies will be coming up. In-house agency has started happening already. You will see brands having activation manager to recruit brand ambassadors, supervisors and then execute it because they will rather do that at a low budget.”
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