Experts chart path to brand development in Nigeria
Current global developments, particularly digital revolution and the changing world of consumers will continue to drive the future of brand development, Kantar Insight experts said.
Speaking at a capacity building programme for stakeholders in the sector, the experts said return on investment may not be certain if players remain ignorant or fail to adapt to latest trends.
The organisation’s Global Brand Director – Creative Development, Daren Poole, Chief Executive Officer, Africa and Middle East, Charles Foster, Chief Client Officer, Africa Mediterranean Middle East (AMME), Karin Du Chenne and CEO, West, East and Central Africa, Adeola Tejumola said though widespread consumer adoption of technologies was unlikely to be the next big platform, connectivity and creativity remained key to sector development.
With more than 30 per cent smartphone penetration in Nigeria, the experts stressed that it was important for brands to be a part of conversation and be consistent across touchpoints, adding that market leaders including Facebook and Twitter which currently rules the internet would encounter strong rivalry.
Poole stated that brilliant creativity remained key to maximum return on investor in the sector, adding, “For the same spend, creatively awarded campaigns increase a brand’s share of market 10 times more than other campaigns.”
He said content creation, particularly internet content still remain a major change in Nigeria, noting that advert experts must ensure that content creates instant meaning and remain unique.
Poole, who said concentration must be directed to brand and not product stated that the way engagement is created could be a source of meaningfully different brand associations.
He added that programmatic advert testing would ensure beneficial return on investment.
Forecasting the future of the sector, Foster said: “Automation will lead to industry specialising in the “Why” rather than the “What” and traditional research roles being redundant.
“Data source agnostic will drive down data collection costs and change the skill sets in the industry.
“Widespread consumer adoption of technologies such as augmented reality and virtual reality but these are unlikely to be the next big platform.”
Chenne said the changing world of consumer would continue to witness more empowered consumers, competition, lower barriers to entry and increased pressure on pricing.
Chenne, who believe that the development, would give rise to a range of new business models, disclosed that mobile connectivity had helped emerging markets to catch up rapidly.
With Lagos leading the way in digital usage, she said “given the amount of time in traffic there is a huge opportunity for brands to create interest using mobile.”
Tejumola disclosed that the event was an opportunity to engage clients on the current challenges in the environment so that they could be aware of consumers’ needs.
“With event like this, clients can pick up on what to change and how to properly engage clients in the ever changing and dynamic world.”
“We are propelling how clients can channels their thinking in line with the needs of consumer,” he added.