Technological advancements have transformed marketing communications by providing new channels, tools, and data-driven insights that allow businesses to connect with their target audience more effectively, deliver personalised experiences, and adapt their strategies for better results.
In today’s rapidly evolving digital landscape, businesses are continually seeking innovative ways to engage with their audiences. As a result, technology has become an indispensable component of the marketing world. These and more were re-echoed at a symposium organised by Maxxconnection Limited, one of the leading experiential and consumer experience firms in Nigeria in commemoration of its 10th-year anniversary.
Data-driven marketing not only improves customer engagement and loyalty but also empowers businesses to stay agile, adapt to market changes, and achieve a competitive edge in an increasingly digital and data-rich environment.
The symposium theme, “The Promise and Perils of Technology Advancement, Data Optimization on the Marketing Communication Industry,” was held at Marcellina’s Place, Ikeja, GRA, Lagos, on Thursday, July 20th. The event had lined up speakers that include; Tunji Adeyinka, the immediate past president of the Experiential Association of Nigeria, EXMAN, Rotimi Olaniyan, Consultant & Senior Faculty Leader, Nottingham Business School, UK, Steve Babaeko, X3M Ideas CEO, Winifred Allison, Executive Director, Product & marketing VFD Bank, Nkem Nweke, technical Program Manager, Microsoft (ADC), Ifeoma Okafor, Marketing Manager, Flying Fish & Castle Lite; and Biodun Ajiborode, Life Coach and Founder, Brand Management Academy.
In his welcoming speech, the Managing Director/Chief Executive Officer, Owolabi Mustapha, said the symposium was necessitated as the marketing communications industry has evolved over the and will continue to evolve with the development of new technology. He added that the company has had an exciting and challenging journey in the last decade, hence the need for resourced industry leaders to converge to rub minds on how the industry should play in the coming times.
The keynote speaker, Rotimi Olaniyan, said the world has witnessed a high degree of change post-COVID, and technology has changed the dynamic of business through different disruptions. According to him, the mortality rate of businesses has become so high, hence business owners must be open to transformative innovations by leveraging artificial machine learning, ChatGPT, and big data to optimise their marketing strategies.
Despite initial concerns that technology advancement might pose a threat to the integrated marketing communication industry, it has proven to be a powerful enabler that enhances the effectiveness and efficiency of marketing efforts.
In the panel discussion, the experts opined that technological advancements have fundamentally transformed marketing communications. Digitalization, personalisation, social media, mobile marketing, content creation, automation, VR/AR, and AI have revolutionised how businesses interact with their audience and promote their products or services. Embracing these advancements is no longer an option but a necessity for businesses looking to thrive in the ever-evolving marketing landscape. By leveraging technology strategically, businesses can connect with their target audience on a deeper level, create meaningful brand experiences, and stay ahead of the competition in today’s fast-paced digital world.
Speaking to the theme, Tunji Adeyinka, the immediate past president of the Experiential Association of Nigeria, EXMAN, said technology has offered the industry and ad-men a lot of opportunities in the last decade.
“The opportunities that are available through data must be matched by a mindset change both from the client side and the agency. The kind of briefs we used to write isn’t what we should be writing anymore because the briefs are constraining. Also, for the business model, it is time for agencies to start looking at partnerships and knowledge sharing because most of these technologies are on the high side,” he said.
Steve Babaeko, CEO, X3M Ideas, whose advertising agency recently won the first-ever Cannes Lion for Nigeria recounted the impact of data on the entry submitted and how it earned them the award. According to him, data-driven marketing has become an essential aspect of modern marketing strategies, providing valuable insights and measurable results.
“It’s no longer about creativity but enhancing creativity with data analytics. Data allows marketers to gain a deep understanding of their target audience. Through various data sources, businesses can collect information about consumer preferences, behaviour, demographics, and buying patterns. This data-driven consumer insight enables marketers to create more relevant and personalised marketing campaigns, increasing the chances of resonating with their audience.”
For Winifred Allison, Executive Director, Product & marketing VFD Bank, through data-driven insights, brands are able to engage their consumers through personalised communication, thereby improving customer experiences.
“Automation tools have revolutionised marketing processes. Clients are now interested in getting the statistics, for instance, it’s not about the volume of traffic at the location where a material is placed on the billboard but the number of eyeballs in terms of digital footprints,” she added.
As the use of data in marketing communications increases, so does the importance of data privacy and compliance. They urged business owners to handle customer data responsibly and adhere to data protection laws.