The President of Advertisers Association of Nigeria (ADVAN), Mrs. Folake Ani-Mumuney has urged brand owners and marketing communications stakeholders to prioritize research and data in order to achieve global best practices and informed decision making,as it would impact favourably on the brand’s bottom line.
According to her, “Access to and use of data and research provides much needed insight for better informed decision making, improved targeting and accuracy elements that impact return on investment on our industry wide estimated N150 Billion spend per annum.
“Data must also be viewed through the lens of Big data and its incredible impact on the marketing industry. As new models and channels of marketing emerge and become increasingly borderless, we must not be caught napping and must pay the same attention to ad word pricing as we pay to new print ad pricing”, She explained.
Ani-Mumuney added that the association will continue to deepen the markets and build capacity through the facilitation of data and research for insight driven marketing and communication practice.
These assertions were made at the 2017 ADVAN Awards for Marketing Excellence (West Africa) held at Muson Centre, Lagos recently.
“Our ADVAN will be one that will continue to deepen the markets and build capacity through the facilitation of data and research for insight driven marketing and communication.
“In this data economy, ADVAN’s objective to be at the driving seat in pursuit of a data centric industry must remain a top priority. Relevance is driven through efficient value contribution to the bottom line.”
In addition, she urged brands to continue to evolve in this technology age with initiatives that will add value to their target market.
“A cursory glance at our membership shows every discipline and specialization within our profession, brand managers, digital marketers, media and PR executives, CMOs, etc”.
Describing all of those as great roles being played, today, she asks, “but what will those roles mean tomorrow in the cyber age of artificial intelligence, IoT (Internet of Things), block chain and machine learning and digital identities, with data analysts as the new direct marketers?”
“The fast evolving nature of our current world suggests that whilst we are one thing we must increasingly consider and be many things; we must shape our future rather than have it shaped for us. We must add value to ourselves; our member organizations in order to add value to our industry and through that the nation as a whole.” She stated.