Professionals, stakeholders and members of Advertisers Association of Nigeria (ADVAN) met in Lagos recently and identified dearth of seasoned marketers as one of the challenges facing the industry.
With the theme: ‘Industry trends (Nigeria) and its implication for members’, the stakeholders also discussed other crucial issues such as regulatory policies, media effectiveness, and agency relations.
In his opening remark, ADVAN President, Mr. David Okeme stated that young people and digitization have been the largest impact in the industry in the last decade. According to him,’ young people, due to their numbers and spending power have shaped the marketing practice globally. Digitization, he stated that has brought positive impact such as data driven targeting, audience scale, automated technology and consumer technology. The negative side of digitization, he explained further are: data privacy, fraud, ad misplacement, ad blocking among others.
On trends in advertising regulations, Advertising Practitioners Council of Nigeria (APCON) CEO, Alhaji Garba Bello Kankarofi stated that ‘a number of advertisers don’t follow the code of advertising. Our office is littered with all sorts of complain from yourself trying to outdo one another, which is contrary to the advertising code’. On his part, the President, National Institute Marketing of Nigeria (NIMN) Tony Agenmonmen stated that the greatest challenge today is the dearth of seasoned marketing professionals. According to him ‘these days, everybody is a marketer.
Most of them do not only understand what they are marketing, they also cannot express themselves in good English.
On trends in Agency relations, the panelists insisted on ample collaboration with the clients, advertising practitioners, agencies and the media.
Concerning trends in the media, Emeka Chris Okeke, MD Media Fuse Limited gave ten facts that will shape the way business is done in 2017. Some of them are: new skills set will be required to drive competitiveness in the area of data; exchange rate debacle will stifle growth in the digital space; people based marketing should rise over proxy based marketing; according to the World Economy Forum report, the digital economy will create hundreds trillion dollars of value by 2025;spending will continue to shrink due to the recession and media rates will be resisted; delivery of mass media by television will be challenged by effectiveness on VOD platforms.
On his part, the president of MIPAN, Dr ken Onyali Ikpe stated that the train of marketing has long left the station. Basic and rudimental advertising today will not deliver. Marketing is different from selling. In selling, you exchange goods and services. But in marketing, you have to fill a gap or create value for the consumer. And this consumer has to be understood very well. Today’s consumer is very sophisticated. Their disposable income is getting lower by the day, so they need deep understanding of the product they want to buy. He is also faced with plethora of choices. What advertisers need now is not so much of feasibility but engagement with the consumers. Then you will not only build adaptation for the brand but also adoration