Experts have advised marketing professionals to take advantage of technology to revamp marketing tactics.
The marketers were admonished at the National Institute of Marketing of Nigeria Ikeja Chapter 3rd Annual Public Lecture held recently in Lagos.
Speakers at the event said due to the highly competitive marketing arena, marketers must be willing to adjust their approaches in response to shifting market trends and economic circumstances, to remain competitive and achieve success.
The Ikeja Chapter Chairman of NIMN and Chief Executive Officer of Procon Group, Adebayo Oke, noted that the conference was basically to review the position of things in the institute in the face of the country’s dynamic economy.
He said, “We all know that in terms of political economy, we are going to be having a change very soon. Where we are coming from, there are issues that have affected consumerism in terms of the power of a consumer, choices and whether it will get tougher or better that is why we are here. To also share knowledge among the top practitioners to floor it down.”
According to him, a lot of quacks are in the market and most companies believe marketing is anybody’s function.
“And going forward, we are going to be regulating the practice of marketing across all industries and in partnership with the international brands in the areas of marketing, including the Chartered Institute of Marketing UK, amongst others,” he stated.
He disclosed that the institute would be partnering with most companies to ensure that only certified marketer would be allowed to practice marketing, to enable the institute get rid of all the quacks.
The President and Chairman of Council for NIMN, Idorenyen Enang, in his keynote address, highlighted the significance of marketers harnessing the potential of technology while ensuring that they adhere to ethical principles of the profession.
He said, “The benefits of technology in streamlining operations are widely appreciated. However, concerns about job displacement due to AI have arisen. Marketers must strive for a harmonious implementation of these technologies, striking a balance that mitigates such disadvantages.”
He added that while automation greatly enhances efficiency, there is a potential loss of intellectual capacity as the current generation prioritises speed, brevity, and simplicity.
Also, the Head Sub-Saharan Africa Digital Media & Insights of FrieslandCampina WAMCO Plc, Ifeoluwa Obafemi, said, “In the phase of technological advancement and changes in consumer behaviour, as marketing professionals, we should set our organisation in a future forward mode. For businesses to maintain a competitive edge in the present-day business environment, undergoing a marketing transformation is a necessary process.”
On his part, the Chief Executive Officer of Axiom Intel Limited, Kolawole Oyeyemi, said, “Marketers should attract and retain their customers. Nowadays, customers are now more informed and know your business more than you do because they now compare your services to global best practices.
“There is a revolution in technology which has assisted in creating tools and devices and building platforms to allow customers to interact with companies across the world.”
According to him, it is a volatile environment and things one does not think will connect one’s business may connect from a very long distance.
