Musings on the Nigerian Marketing Communications Industry in 2010

Aforonwa Chinedu

As 2010 unfolds, it is increasingly clear that a new era has begun for the marketing communications industry: It is now fashionable to review IMC budgets downwards; clients are leaning in favour of performance based business relationships, no matter how short, over traditional long term retainerships; and even previously conservative advertisers are experimenting with novel practices in an effort to derive more value for budget spends.
In the post 2009-economic-crunch world, agencies that are fortunate to still hold enviable accounts will have their ingenuity stretched to the limits as marketing directors “do what needs to be done” to squeeze more value from every kobo spent.
It is very likely that a greater chunk of IMC budgets will go the way of public relations as it has proven to yield more long term dividends than other IMC tools. A wiser, more cost-conscious public will gladly embrace it for its relative affordability. PR will especially come handy for many corporate brands following the image battering and corporate governance crises that tarnished – and in worst case scenarios, buried – public goodwill toward businesses.
Advertising will also have its say. As both corporate and personal brands re-invent, re-package and re-brand themselves with sturdier offerings, the launches will be accompanied with the requisite razzmatazz to stimulate a lethargic market. However, it is important that advertisers get it right this year.
One way to get it right is to ensure that all efforts channeled towards product or service launches are backed by thorough market research. Summary insights into the target market may not be enough to ensure that a product or service achieves its projected share of the market.
While giving due recognition to other IMC tools, serious businesses will do well to particularly maximize the benefits innate to PR and advertising. PR plays an invaluable role in new product development and offers a good platform to repeatedly communicate brand fulfillment to consumers while advertising – below- or above-the-line – is a brand’s lead channel into the market’s consciousness.
Above all, understanding the essential role of the brand in the life of consumers is as important as communicating this to them as often as possible. As brands continue to battle for a share of a leaner recession ravaged purse, positioning has become the prime decider of the game. Like Indomie noodles, continually imbue the target audience with the reasons why they should buy your brand. Scream the benefits from the rooftops. Add more nutrients and continually invent fresher perceptive to the benefits.
Practitioners who wish to tower above the competition this year must, in addition to traditional functions, actively partner with clients to drive sales. This has become a pre-requisite to successful client-agency relationships in the new era. The industry is awash with sterling creativity in the areas of mind awareness and recall, product recognition and superb campaigns. This is the time to change the status quo ante. Let clients know the relationship goes beyond interpreting the brief but that you are really passionate about their success.
As a notable business leader points out, “the industry still awaits players who judge the quality and proof of their work on the basis of business value such as sales, consumers coming through the door or revenue growth, directly as a result of their efforts.”
Perhaps, you have heard all these before. So, the biggest strategy for 2010 will be to proactively put them into practice.