Disruptive Marketing: Embrace Tech Optimization, Experts Task Brand Marketeers As NIMN Inducts 17 New Fellows

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Marketing practitioners in Nigeria have been urged to make effective use of new thinking in key areas of practice as technology has disrupted many industries, thereby rendering the old ways of doing things redundant and cumbersome.

 

This submission was made known at the National Institute of Marketing of Nigeria (NIMN) 2022 annual marketing conference held in Lagos on Thursday.

 

The epochal event, with the theme, “Driving Business Sustainability in the Age of Data and Tech,” brought together the who’s who in Nigeria’s Integrated Marketing Communications (IMC) ecosystem and featured a hybrid of astute professionals as speakers and panelists.

 

The event, which was compered by Lanpe Omoyele, Managing Director, Nitro 121, witnessed two panel discussion sessions.

 

The Keynote Speaker, Kolawole Oyeyemi, Chief Executive Officer of Axiom Intel Limited; a technology-led Commercial strategy and Solutions company, while dwelling extensively on the theme: ‘Driving Business Sustainability in The Age of Data and Technology’, said contrary to the traditional belief that the advent of technology would improve the lives of many at the expense of ‘a smaller few’, tech advancements have continued to take its toll on many businesses, due to the failure of those businesses to take advantage of the benefits inherent in such techs.

 

He noted that many industries have been technologically disrupted, thereby rendering the old ways of doing things redundant and cumbersome.

 

 Oyeyemi, an excellent and innovative commercial strategist with extensive award-winning experiences and achievements in marketing, sales/distribution and customer experience management practice at executive levels across a multinational FMCG and MTN Nigeria Communications Plc, argued that with the explosion in data and very aggressively disruptive technologies, it has become imperative for business sustainability to be discussed from the perspective of performance fundamentals.

 

Describing as ‘unsettling’ the issue of disruptive technologies, the chief executive of Axiom Intel Limited noted that while technology can enhance operational and financial efficiencies, it can also accelerate a business’ decline and extinctions, if not taken advantage of.

 

“This is like riding a wild tiger. Any error can be very fatal. Technology can help you drive operational and financial efficiencies. It can make you leaner, fitter, smarter and more profitable. It can make you more innovative and enable faster access to market. However, technology can also accelerate your extinction,” he stated.

 

Oyeyemi also cautioned that such disruption might have a negative impact on businesses, though it might not necessarily be through intra-business competition, but as “a barbarian from outside” the industry.

 

Using the advent of smartphone technology as an example, he argued that the introduction of the first smartphone device by IBM in 1992 and the advent of internet had permanently made smartphone to change the face of business and personal interactions.

 

“This is one of the most visible examples of Creative Destruction. The smartphone took mobility of life and business to a whole new level and created a convergence of industries into this powerful device,” he added.

 

According to the former President of the Advertisers’ Association of Nigeria (ADVAN), the convergence had led to the premature death or a mutation of a lot of industries, with over 14 classic industries changed or being changed by the smartphone.

 

Some of the industries affected, he added, included music production and distribution, video production and distribution, banking, insurance, watch, print production, broadcast, gaming, retail brick and mortar channels, maps, credit, cinema, advertising, photography, hospitality, transportation, logistics, education and medical practice.

 

Oyeyemi attributed such disruption to the fact that technologies have no regard for extant rules of engagement or the old factors of competitive advantage.

 

 

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“They are barbarians who have pulled down old structures and systems and created a whole new frame for competitiveness beyond industries,” he stated.

 

The keynote speaker therefore charged business owners to be wary of organizational rigidity, since such strategy impairs innovation and ecosystem thinking and could therefore lead to the extinction of such businesses.

 

According to him, sustainability in a VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) world needs new ideas especially in a world where data is humongous and technology is aggressively disruptive. He, therefore, challenged marketers to embrace contemporary business with fresh technological concepts for continuous improvement in order not to be swept away by disruption. He cited an example from Australian economist Joseph Sean-Peter way back in 1949.

 

“Mainstream economic thinking that those displaced by technological advancement will have newer opportunities in the new jobs that would be created by the obstructive technology has, unfortunately, not often been the case. Many jobs and many industries have been made extinct by technology and, with their extinction, many once upon a time successful companies and valuable talents are gone.

 

“There is no better time in history than now, with the explosion in data and very aggressively disruptive technology, to discuss the issue of business sustainability. Not from the green plant perspective, which is what many people want to hear, but from what I will call business fundamentals when it comes to business performance and sustainability,” he said.

 

The marketing guru also recalled data revealing the future growth status of the global technological advancement journey, which stated that in 2012, the whole world will change in ten years more than it has changed in a hundred years previous.

 

“According to the World Economic Forum, the amount of data in the world was estimated to be 44 zettabytes, at the dawn of the year 2020. A zettabyte for those of us who don’t know is 1,000 bytes to the 7th power. This means one zettabyte has twenty-one zeros behind it. This number came from a summation of the data generated by social media sites, financial institutions, medical facilities, shopping platforms and other several online activities.

 

“At the beginning of 2020, according to the World Economic Forum, the number of bytes in the digital universe was 40 times bigger or worse than the number of stars in the observable universe. By 2025, the amount of data that will be generated each day will get up to 463 exabyte globally. An exabyte is 1000 bytes to the 6th power,” the data revealed.

 

The conference also featured sessions with the themes: “Future of Marketing in a Tech-Driven World” and “Disruptive Marketing” where panelists shared their thoughts on how their brands have been able to disrupt through technology and data, especially during the heat of the pandemic.

 

The first session with the sub-theme: ‘Disruptive Marketing’ was moderated by Angela Makinwa with Otome Oye, General Manager, EXP Agency Africa, Joyce Ibukun Aiyemo, Marketing Coordinator, Allied Foods (Burgers King) and Segun Ogunleye, GM Marketing, Seven-Up Bottling Company as panelists.

 

The second session with the theme: Future of Marketing in a Tech-Driven World” had Nsima Ogedi-Alakwe as the moderator, Omobolanle Akingbala, CMO, Hirefoster, Ladi Ogunseye, CMO, Canary Point Corporate Services, Prof. Uchenna Uzo, Faculty Director, Marketing, Lagos Business School and Ized Uanikhehi, CEO/Co-founder, Zedi Africa as the panelists.

 

Some of the discussants noted that disruption can be both incremental and fundamental depending on the mode of response to the product landscape, while stressing the need to refocus for survival in the face of data with technological thinking.

 

This, they suggested, is by approaching growth through a continuous improvement in operation with the application of technology, data intelligence aimed at achieving a deliberate excellent customer service. The marketing experts urged brands to disrupt the passion point of consumers to help set their brands apart.

 

In her own contribution,  Joyce Ibukun Adeyemo, Marketing Coordinator, Allied Foods (Burger King), harped on the need for marketing practitioners in the country to take disruptive marketing seriously.

 

 

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According to her;  “This is because it helps you refreshen your products in the eye of your customer, and creatively give you a competitive advantage,” she stated.

 

However, the conference came to a climax with the induction of 17 new members as Fellows into the prestigious marketing circle in recognition of their contributions to the growth of the marketing industry.

 

Some of the newly inducted fellows included Olusegun Abayomi Ayoola, MD/CEO, Expose Marketing Solutions Limited, Saleem Adegunwa, MD, Rites Foods Ltd, Shuaib Adekunle Abubakar, Senior Strategist and Marketer, Prof. Aliyu Mamman, pioneer Rector, Federal Polytechnic, Daura, Kastina, Chioma  Angela Akintomiwa, a seasoned expert in media monitoring sector, Charity Ilevbare-Adeniji, GM Marketing (LifeCare Division, SevenUp Bottling Company, Ore Famurewa, Executive Director, Corporate Affairs, FrieslandCampina WAMCO Nigeria Plc and Chukwuemeka Augustine Ajoiyi, MD, Vinecrest Nigeria.

 

Others were Steve Babaeko, President of Association of Association of Advertising Agencies of Nigeria, AAAN and MD/CEO, X3M Ideas Group, Oyeronke Adebayo, Head, Travel Insurance Unit, Non-Life Retail Division of Aiico Insurance Plc, Benita Adelore, General Manager, Leventis Motors, Odinakachi Umekwe, Executive Director, Retail Distribution, FBN Insurance Ltd, Adebowale Sangosanya, Consultant, Blue Teal, Tolu Ojo, MD/CEO, Tamy Consulting Nigeria Ltd,  Louis Nzegwu, Professor of Marketing, LBS,  Prof. Mubaraq Sanni, Prof of Accounting, Kwara State University and Mr. Agbasionwe Raphael Odikpo, MD, Coscharis Ghana Ltd.

 

Speaking after the induction, the President/Chairman of Council, NIMN, Mr. Idorenyen Enang charged the new inductees to contribute their own quota to the development of the marketing institute.

 

The NIMN’s boss expressed delight at the increasing interest the institute had continued to generate among members and the general public, in recent times, while assuring members of the council’s commitment to providing value and more benefits for members.

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