The CEO/CCO of Noah’s Ark Communications, Lanre Adisa, has stated that digital deployment will grow remarkably, business model will change and others factors will shape the future of marketing communication in a post COVID-19 era.
He disclosed this at the Live Instagram Chat organised by Brand Communicator, Nigeria’s leading brands and marketing communication publication, where he spoke on the topic, “COVID-19: Impact and Implications for Marketing Communication Industry”. Interesting to note, the event was hosted by Joshua Ajayi, Publisher /Editor-in-Chief, Brand Communicator and had notable industry practitioners in attendance that asked questions from the guest speaker and as well gave their comments which was highly engaging and interactive.
Adisa revealed that the pandemic has affected the marketing communication industry greatly, stating “Everybody is trying their best to stay afloat” and “The world is going into recession, Nigeria inclusive.”
He explained further that television commercials cannot be shot at this period, so it is affecting the activities of advertising agencies, adding that brands are equally affected.
Similarly, he pointed that the experiential marketing agencies are also affected as activations have been cancelled. However, he urged the sector to think digital and see how some of their activations can be done online.
Furthermore, he explained that people are moving to social media as recorded in the numbers of likes most post receive at this time because people are in-door. So, he urged brands to leverage on the digital media to stay connected with their target market.
Meanwhile, he stated that about 40 percent of the marketing communication revenue in the country may have been lost to the pandemic. So, he forecast that a lot of people will lost their jobs, a lot of small businesses will go under, people will have less to spend and there will be competition with the little to spend even as brands strive to win consumers over.
Also, he forecast that before the end of third quarter, some businesses will start to pick up from the effect of the pandemic. He therefore urged the government to support businesses to thrive after the end of the pandemic.
He explained further that more freelancers will spring up and it would help the creative industry greatly, considering that presently working from home has not hindered the quality of creatives churned out.
He added that moving forward clients would demand that every naira spent on advertising must be justified.
Moreover, he stated that business models of agencies and brands will change as there is already readjustment in the management system of most organisations.
Speaking on some other trends that we shape post COVID-19 era, Adisa said there will be cost cutting from clients, and non-professional players will spring up who may begin to practice marketing communication.
In order to remain relevant in challenging times, Adisa advised practitioners to become invaluable partners for their clients by offering extra-ordinary services beyond their core offerings and invest in knowledge and make it count, stating that “This is a time clients will value good thinking.”