Ogunseye calls for rethinking of business models in fast-paced world
By Felicia Nwosu
Israel Ogunseye, Head of Marketing at Kobobid, and one of the brilliant speakers at the just concluded 2023 MARKETING EDGE Fireside Conversation, has stated that as technology continues to move at a great speed, it is imperative for businesses to be at the forefront of embracing leading-edge solutions that will enable them stay ahead of the game. Mr. Ogunseye also urged organisations to shift to new strategies as marketing efforts to appeal to prospects for more streamlined offering in order to raise a new revenue model that will translate to sustainable growth.
The marketing wizkid made this valuable suggestion, while exploring the theme of the fireside: “Building Cutting-Edge & Competitive Strategies: Keeping Up with the Latest Trends in a Fast-Paced World”. Mr. Ogunseye averred that the first step to keep up with the latest trend is by putting the customer first while making a strategic pivot to ensure that one’s business remains viable and profitable.
Recalling what business used to be like pre and post COVID-19 pandemic, he explained that the world is evolving at a very fast pace thereby compelling businesses to also move at light speed. The fintech and accounting professional refreshed the minds of the audience by citing some businesses that have evolved, and individuals who have evolved their personality models as well.
“Once upon a time in our profession, you would find that if you wanted to book a ride, you would use Uber, but right now, Uber as a business looked at the landscape, understood their consumers, and pivoted their business models to food deliveries through Uber Eats. Uber as a business would have said we are comfortable with just doing rides, but it looked at the business landscape and decided what other revenue opportunities we could take advantage of by opening up food deliveries and person-to-person deliveries,” he said.
The marketing expert, therefore, tasked brands and business owners on the need to stay up-to-date with technological trends by integrating digital tools into their everyday life to avert being shut out in the current wave of fierce competition.
“If we follow trends and events, we may not catch up because development happens over and over again. If you look at the world before COVID-19, before we could have a meeting like this, someone just needed to put someone’s email in the calendar to find their availability. But now, you can book a meeting at the comfort of anywhere as we are seeing a lot of hybrid events. This has come to tell us that the way the world is, there is a lot of evolution happening, and these changes are moving fast,” he said.
The former chief marketing officer of Canary Point Corporate Services charged industry professionals to embrace the future with strategies and models that will strengthen business sustainability to ensure that their brands give timely response to the customer while organisations remain operational.
“From this conversation, I want us to open our minds to endless possibilities that can happen to us as a business, individuals and as professionals beyond the now, and look into the future. In the future, where do you want your business to be and what position do you want us to be?,” he queried.
The two-day intensive capacity building programme held at MARKETING EDGE’s corporate office in Ikeja, Lagos, was geared towards developing and strengthening the skills and competence of the leading brand-centric publication’s workforce.
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