THE world is dynamic, it is changing. Consumers’ tastes are changing, too. Today’s consumers are becoming more sophisticated, and clients, increasingly demanding. There is the need for today’s marketers to be conscious of the direction the world is going.”
The above was from Seni Adetu, former Marketing Director and Managing Director, Coca Cola and former Managing Director, Guinness Nigeria, at the Fellows’ Dinner and Awards Night, organised by the National Institute of Marketing of Nigeria (NIMN), held in Lagos, recently.
Adetu, now Chief Executive Officer, Algorithms Media, in his keynote address, titled, ‘The Future of Marketing in A Technology-Driven World,’ noted that marketing had moved from, the production era, where sales far outstripped supply, to the sales era, where marketers would have to push and deploy different sales and marketing strategies to get their wares off the shelves and win the buy-in of the consumers.
According to him, the advent of automation and technology had enhanced production, and made mass production possible, with its attendant competition.
“The marketing world is changing, and we, as marketers, must know that fast. Where are we today? We are at the centre of digitalisation. In other words, digital marketing has come into the marketing mix, and that is why you see some clients actually insisting on their brands being on the digital space,” he added.
According to him, since digital marketing had come to change the marketing world, the nation’s marketers must leverage this, while carrying out their duties and brace up for the challenges this might pose.
The former Coca Cola Nigeria’s Chief Executive identified one of the attractions of digital marketing, as its being easy to track; a development, he argued, is responsible for the relative successes of e-commerce outlets in the country today.
Adetu however advised marketing practitioners to expect more digital advancement that will change the complexion of marketing in years to come.
“The future of marketing is farther than what we are presently seeing, and that is the more reason you, as marketing practitioners, must brace up. For instance, the advent of Artificial Intelligence may wipe out some lazy marketing practitioners. This is because AI will be deployed to handle some of the jobs being done by these marketers, and you can be sure that it will be better handled.
“For instance, such technology will provide a win-win situation for both customers and manufacturers. For instance, while it allows a potential consumer to relate with a product before he makes his purchase, it also gives the manufacturers the opportunity to have an idea of what the consumer wants,” he added.
He stated that since technology and leadership would transform the marketing world, it had become imperative for practitioners, especially marketing directors, to be focused on what they could change and not mull over what they have no control over.
“I remember my tenure as the Marketing Director of Coca Cola Nigeria, and a question was put to me, at one of our foreign offices, on why our sales suffered a decline in that particular year. What I thought was a good excuse of the heavy rains that fell throughout some period in that year, being a hindrance to good sales, was quickly punctured by the Coca Cola official. He simply asked me whether such rains were not experienced the previous years. He would also want to know whether the rains only affected the Coca Cola brands, during the period since it was obvious that the major competition in the market, then, recorded very impressive sales returns.
“He therefore counseled on the need to focus more on things we can change and focus less on those we cannot change. For instance, he would want me, to focus on other things that could grow the business, rather than focus on weather, which is beyond me, as humans,” Adetu stated.
Adetu also stressed the need for marketing directors to measure themselves against the best; since that is the only way they can ensure their growth and those of their brands.
“There is nothing like talents among midgets. There is no growth without aspiration. You must always measure yourself against the best in the industry, and not be a local champion,” he added.
The former Guinness Nigeria boss however commended the marketing institute for providing the opportunity to discuss the prospects and challenges of the marketing profession, and what such portend for practitioners and the industry.
In his welcome address, the institute’s president and chairman of council, Mr Tony Agenmonmen stated the institute had been re-engineered by his administration in the past few years, as evident in the huge number of marketing professionals, over 70 of them, being inducted as fellows of the institute, at the event.
While reiterating the institute’s commitment to championing the application of marketing tenets and principles to governance, Agenmonmen however lamented that some provisions of the current NIMN Act, are yet to fully meet the requirements of a modern institute, when benchmarked against similar marketing institutes in other parts of the globe.
“We are currently working on some amendments to the Act, which, as soon as they are approved by the NIMN General Assembly, will be presented to the National Assembly,” he stated.
The NIMN boss however called members, with amendment requests, to forward same to the institute’s Registrar, to enable the institute make a robust presentation at the National Assembly.
He commended marketing practitioners in the country, especially those under the umbrellas of the Advertisers’ Association of Nigeria (ADVAN) and Association of Corporate Affairs Managers of Banks (ACAMB), for heeding the institute’s membership registration call.
The NIMN boss however hinted on the decision of the institute to let those who failed to heed the call, have their dates in the nation’s courts.
“In the past few years, we have preached the need for voluntary compliance with the requirement of the law for all marketing practitioners to be accredited and registered with the Institute. I am happy to report that many practitioners have responded. The Advertisers Association of Nigeria (ADVAN) and Association of Corporate Affairs Managers of Banks (ACAMB) have been very co-operative. Many of their members are being inducted as Fellows tonight.
“Unfortunately, even with our patience and persuasion, some practitioners have refused to comply with all the requirements of the law. Therefore, the first set of these people will be having their date in court from this week, as the charges against them have already been filed in court,” the NIMN boss stated.