MARKETING practitioners in the country have been charged to develop the culture of effective data monitoring so as to keep them abreast of developments, both in the industry and on the global space.
Making the charge at a webinar, organized by the Advertising Practitioners Council of Nigeria (APCON), recently, the Chief Consultant, B. Adedipe Associates Ltd, Dr. Biodun Adedipe noted that it had become imperative for practitioners, desirous of making an impact in the post-covid times to follow the data, to enable them take informed decision on which sector of the economy to invest.
Adedipe, who was the Keynote Speaker at the webinar tagged ‘Nigeria’s Economic Outlook: The Implications of National Budget For the Marketing Communications Industry’, argued that despite the attendant effects of the COVID-19 pandemic, some sectors of the nation’s economy, such as Agriculture, Trade, Manufacturing, Real Estate, Mining and Quarrying, experienced growth in 2021.
He added that by working with data, practitioners would be able to identify such viable sectors, and know those they could invest in.
“The general belief is that COVID-19 has wreaked havoc on both individual and corporate economies. But in spite of those low moments, there were some sectors that witnessed some activities last year. But the questions that we should ask ourselves, as practitioners, are: are we following data? Are we keeping tabs that would enable us make informed decision on which of the sectors to beam our searchlight? For instance, how many of those sectors are we keeping tab on, as professionals? Which of the top ten are you doing business with? Interestingly, you can only know the top ten or top 20, if you are data-conscious,” he argued.
He also charged practitioners on the need to watch out for major trends, that might either make or mar the industry.
“For instance, identify the sectors that are growing fast, and serving as major contributors to the nation’s GDP. Identify the major players in those sectors, and get to do business with them. The results might not be seen in the immediate, but keep on trying,” he stated.
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