Digital innovation changing marketing paradigms, says Udeme Ufot
In an age when digital technology has interconnected customers and democratized information across markets, there is the urgent need for organizations to embrace digital innovation to equip themselves and acquaint themselves on how customers think, act, express themselves and connect with one another in the Digital Age so as to leverage that understanding for better engagement and relations.
Speaking at the Marketing Edge national stakeholders summit in Lagos, the Group Managing Director of SO&U limited, Mr. Udeme Ufot, MFR, while delivering the key note speech on “Marketing Paradigms in the Age of Digitalization” challenged organizations to be more receptive to digital innovation for marketing because key marketing paradigms have been seriously challenged or transformed, sometimes in ways we never imagined.
Today, technology is democratising information with its ubiquitous spread and transforming customer choices, which are changing the market place. According to Mr. Udeme Ufot, “Marketing is acquiring a very nebulous nature where the marketer is spoilt for choice when it comes to opportunities for consumer engagement but yet hugely challenged by loss of control of what the consumer sees, hears or even hoe he receives same”
He continued, “At the click of a button, the consumer can have virtually whatever information he needs, even those he does not seek are thrust before him. At the click of a button, he can literally transport himself to any market he desires, compare offerings, and negotiate the best deals for himself. If he is unhappy with the service he has received, or disappointed with the performance of your brand, he can spread easily the word globally in a matter of seconds.
“Today’s consumer not only receives information, he is a disseminator of information, and co-creator of the brand. Today’s consumers can contribute to building your brand into the most loved and trusted in its category, and can also destroy your brand in seconds. The consumer has become a communication vehicle and given “word of mouth” a new dimension I can describe as “word of finger”. The customer has transformed into a most unexpected and powerful creature, one that you offend at great peril to your brand” he adds
Mr. Udeme Ufot challenged agencies to maintain relevance by familiarizing themselves with the transformations in the market place and leading clients through the digital maze by taking a deeper look at how they practice marketing through all the various stages, from ideation through to strategy, internal processes and systems to implementation in order to effectively communicate, connect with and profitably satisfy the needs and desires of customers in the Digital Age.