Data management, innovative marketing crucial to business survival
There is a need for stakeholders in Nigeria’s marketing communication industry to manage data excellently, embrace innovations, adopt marketing strategy and technology for businesses to thrive in the country’s environment.
The Chief Executive Officer, GDM Group, Victor Afolabi, said Nigeria’s business landscape needs to change and be improved on, especially as technology is disrupting the world, adding that data and analytics will invariably play a big role in innovating today’s marketing and businesses.
He said lack of proper marketing plan, big data, innovation, and technology application are the main reasons some businesses, especially a start-up, struggle to make an impact in the country.
He spoke at the maiden edition of the yearly, Master Class business forum, organised by GDM Group, as part of activities to commemorate its 10th year anniversary in Lagos.
Afolabi described Nigeria’s business environment as very tough, adding that to stay relevant in the terrain requires extreme creativity, dynamism, and insight into consumer understanding.
While speaking on the topic, “Raising the bar through innovation,” he noted that various innovative transformations have helped to transform the organisation from its earlier traditional base into a modern-day data-driven and digital technology firm.
According to him, today’s business world is all about marketing and innovation, as a lot more demand is being placed on the marketing and marketing communications practitioners.
“Marketing is in a transitional era. The world is looking for more predictability and this is about more data. Innovation is about understanding consumers’ behaviour. Innovation is critical because marketing is constantly moving,” he said.
On his part, the Managing Director/Chief Executive Officer of Nitro 121 Limited, Lampe Omoyele, who spoke on, “Marketing innovation and strategy in 2020,” urged businesses to leverage personal data, noting that it is the new oil of the Internet and the new currency of the digital world.
He further said Artificial Intelligence is on the rise, noting that by 2020, over 80 percent of businesses globally are expected to have some sort of bot automation implemented.
No comments yet