Media planning and buying encompass wide range of options – Adebayo
By Abimbola Mohammed
Yinka Adebayo, Group Executive Director Omnicom, West and Central Africa, says the media planning and buying sector has gone beyond using the traditional approach solely to provide service for clients, adding that the sector is expanding its services offerings to encompass a wider range of options.
The Group executive made this known in an exclusive interview with MARKETING EDGE on TV crew where he noted that the agencies that help brands create emotional connection with target audience will enjoy a share of their pockets.
He mentioned that some of the offerings include connected TV, streaming platforms, content creation, audience segmentation, measurements, even data-driven insight and integration which is borne out of the fact that clients’ needs are no longer about just awareness, planning or buying media but a case of offering what the consumer and target audience are looking for.
Continuing, Adebayo said that consumers are aware of brands’ presences but would want to know what is in it for them before patronage. “These are the questions they ask brands and certainly agencies are being tapped to say, ‘how do we begin to integrate and create experience for consumers so they can warm up and enjoy the brands offerings?'”
Speaking on inflation, fluctuations in FX and other economic challenges encountered in the media planning and buying ecosystem, as well as the marketing communication sector in the past few years, he said: “Well it’s really a tough one. I think it’s happening to every sector, and the marketing communication sector has equally taken share of hit, because it’s only when the business is good for client that the sector can enjoy.
“It is also important to bear in mind that marketing advertising rests on a tripod – the client, agency and media. If the clients are feeling the pain then the sector will feel it a lot more. Crisis, they say will always remain the good platform for great managers to excel. This is the time for us to excel by putting on our thinking caps to see how we get better at what we do and how we do them.”
Speaking on opportunities for investors and players to achieve the right business growth and profitability, the media expert said accurate and recent data, as well as the right technology tools will help harness the full potential of the MARCOM industry.
“I think one of the key potential investment areas which, of course, we’ve been clamoring for, is the area of data. Unfortunately for us there is nothing like loyal consumers anymore. What you have are consumers on the go; the moment you are doing what they like they gravitate towards you. The moment you drop it they move on to the next trend. What that call for is the fact that we need to constantly research into them, so data is going to be key.
“When we talk of data we are not talking of last year’s data that comes in this year, we are talking of real-time data that must be on time. That was what informed our decision to come up with what we call the Consumer Connection Panel. It’s a database that tends to understand because they can see the youthful generation that we are seeking are restless people, they don’t have long-term loyalty to any brand,” he explained.
He added that there is a need to constantly research consumers, know what their needs and wants are at every point in time and see how to connect with them.
“That is one area of investment. The other area of investment has to do with technology. I think technology needs to be invested in and these are opportunities that are waiting to be tapped. I only hope and pray that the right investor will be able to put money behind this and we can begin to be in a position to harness the full potential of the marketing communications industry.”
Comparing traditional and new media and their relevance and role in disseminating authentic and reliable information, as well as the consumer consumption pattern, the media expert noted: “The consumption of traditional media is still there, because both new media and traditional media complement each other depending on what a brand is trying to push out. We are in the era where people question the authenticity of information they receive. There is a piece of information out there that people will believe more if it’s coming from traditional media than new media. The issue of credibility is very strong which makes traditional media still have the lead for established brands that need credibility and authenticity of their message.”
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