The Group Head of Procurement and Materials Management at Flour Mills of Nigeria Plc, Osuagwu Chidimma has revealed that agencies cannot be healthy and profitable if the brands they work with are not successful.
Chidimma made the revelation at the ongoing 2023 Media Independent Practitioner Association of Nigeria (MIPAN) Annual General Meeting (AGM) where he was the guest speaker at the occasion.
Speaking on the theme, “Key Enablers To Running A Healthy And Profitable Agency Business”, Chidimma described ‘Key’ ‘Enabler’ Profitable’ and ‘Agency’ as the key point of the theme that needs to be studied and defined. Key, he said is the smallest part of a house that people don’t consider to be until it is lost. However, having a wrong key in an agency or business gives a false sense of assurance leaving activation mode often too late. Hence, the key is crucial to success in anything because it unlocks doors of potential and opportunities.
According to him, an enabler is a catalyst that helps bring about a pre-determined and envisaged outcome. Hence, he said, an enabler is hapless without a vision of success.
“Profit requires a mindset which is defined by two things, they are ‘think sustainable and think long-term’ However, an agency must understand that for them to succeed the clients must succeed as well. For any agency to achieve health and profitability, its principal has to be healthy and profitable.” He said.
Highlighting the agency/partnership success, Chidimma listed some keywords that can lead to the success of any agency which includes clear vision, creative & innovative, right people, cost-conscious, customer-focused.
“People make the difference in any organization which is why the right people with the right character, motivation, and success are key to success. Also, an agency must approach from a cost-conscious perspective.”
However, innovation and creativity cannot be over-emphasized because it help the brand/principle communicate its message, win the consumers, and win the agency accolades.
“Many agencies do not share in the vision of the brands they represent. It is clear when you engage the clients and they are seeing the execution of the task instead of a part of delivering to a shared vision. Hence, crafting agency vision to reflect aspects of brands vision helps to bring strategy into action.” Chidimma concluded.
In his remarks while giving the welcome address, the president of MIPAN, Femi Adelusi said “On behalf of the executive of this agencies and every member of the agencies, I appreciate everyone’s presence here today.”
The event had in attendance, industry stakeholders and leaders including Dr. Ken Onyeali Ikpe, Chairman /CEO of Gravit Hill Limited; Tunji Adeyinka, Group Managing Director of the Republican Group; Steve Babaeko CEO of X3M Ideas and President of AAAN; Oba Ayodele Kupoluyi; Mr. Emeka Okeke; among others.