Technology, COVID-19 help brands to rethink solutions
By Ibidunni Banjoko
To chart a way forward for Nigeria’s advertising and marketing communications industry, the Advertising Practitioners Council of Nigeria (APCON) gathered some experts to discuss the need to deploy technology in driving brand growth and solutions, while x-raying the implications of the national budget on the industry.
The event, with “Nigeria’s Economic Outlook: The Implication of National Budget for the Marketing Communications Industry” as its theme, had Biodun Adedipe, Chief Consultant B. Adedipe Associate Ltd as the keynote speaker; Eyitemi Taire, marketing consultant Gemini Place, as the moderator; including Lampe Omoyele, MD Nitro 121, Emmanuel Agu, GMD JOTNA Nigeria (The LaCasera Company) and Tolu Ogunkoya, Regional CEO, West & Central Africa Omnicom Media Group, as panelists.
Olalekan Fadolapo, Registrar/ Chief Executive Officer of APCON, in his opening speech said that webinar was organized to chart a way forward for the advertising and marketing communications industry to help grow the economy as well as dissect some of the issues in the industry and opportunities they can tap into in 2022.
During his presentation, Dr. Ogundipe said that, for businesses to stay afloat in the post-COVID-19 era, players would need to embark on collaboration, leverage on technology and data to remain relevant. He gave a general overview of the business landscape and how the pandemic has disrupted economic activities even as the country is recovering from the challenges. He described the era before the outbreak of COVID-19 as Normal, from March 2020 as ‘New Normal’ and the future as ‘Next Normal’.
“Nigerian business environment has many challenges as well as many opportunities. What you see and focus on will determine the action you take.”
He also cited that the IMF projected that the global economy will grow by 5.9% in 2021 and 4.9% in 2022.
“There are opportunities in every sector of the Nigerian economy. Do the right things at the right place and right time with the right person and also embrace the digital world,” he said.
Also, he stated that sustainability, resilience, disruption and re-imagination are the next normal.
“The gateway to sustainability is endurance; repeated value enhancement while resilience has to do with continuous market interrogation. Meanwhile, disruption means to challenge the current status and arrangement and to re-imagine is to look forward, to disconnect from the past,” Dr. Ogundipe stated.
On his part, Mr. Omoyele highlighted the importance of deploying technology to grow brands and the marketing communication industry. He also stated that it is vital that organizations manage their remote and physical working arrangement effectively in the interest of contributing to the growth of the country, while projecting that political campaign will deepen in the second quarter of the year and may help boost the economy. This development, he explained, will also favour IMC agencies who can handle campaigns for some of the political parties or individuals.
Also speaking, Mr. Agu explained that COVID-19 has helped some brands to rethink by finding solutions to current problems which make them different from others. He observed that the world is gradually returning to ‘Normal’, but added that only organisations that are resistant, innovate and sustainable will thrive as normalcy returns.
Urging brands to stay afloat for the next 12 months and engage their consumers whether online or offline to remain relevant, Mr. Agu noted that sectors like fintech and betting companies are growing remarkably because of technology.
On his part, Tolu Ogunkoya, Regional CEO, West & Central Africa Omnicom Media Group said that data has become crucial and urged organisations to be deliberate about gathering data and in the utilization of technology.
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