By Adetunji Faleye
The people of Egbejoda had enjoyed a prolonged period of peace and prosperity, with the community shielded by the natural barriers like the Wall of Jericho. Little did they know, however, that the winds of change were stirring, and an unexpected threat was slowly but surely making its way towards their gates.
In the heart of the town, a young and ambitious royal hunter named Kadiri was entrusted with patrolling the vast borders. Armed with an eagle-eye and a determined spirit, Kadiri roamed the towering peaks and dense woods, ensuring that Egbejoda remained safe from any prowling dangers. His loyalty to the kingdom was unwavering, and his commitment was known far and wide.
One day, while moving round the town, Kadiri’s sharp eyes detected a movement in the distance. Focusing his gaze, he spotted a faint but unmistakable cloud of dust rising beyond the mountains and valleys. A sense of fear gripped him as he watched the cloud grow larger and frightening, his instincts was telling him that something was amiss. He made his way swiftly back to the kingdom to report his findings to the council.
As he recounted what he had seen, concern spread among the council members of the town. They were well aware of the kingdom’s vulnerability beyond the mountains, and the distant cloud of dust could only mean one thing: an approaching enemy.
This is the story of the integrated marketing communication (IMC) industry which has enjoyed unlimited dominance of the industry over the years. Today, there are indications that the component parts of IMC landscape are under threat from the digital technology industry and its entrepreneurs. Though, when the revolution started some years back, most of the IMC professionals failed to recognise digital technology as the major threat to the survival of their industry. Surprisingly, the whole IMC ecosystem is under severe threat, now that digital technology has been marking serious incursion into the IMC industry.
Apart from that, revelation by a member of Advertisers’ Association of Nigeria ADVAN, who prefers anonymity shows that larger companies might build their in-house advertising and marketing teams due to the incursion of digital technology and availability of IT tools and platforms that simplify the process. He said that most of these companies have enough resources to hire best of the best in the marcomms industry to their side. He said this will potentially lead to a decreased reliance on external advertising and communications agencies.
Speaking to Brand Impact, managing director, Market Engine, Bolaji Okusaga said that the era of technology disrupting IMC is very much at our backyard and we cannot deny that. He said what IMC professionals need to do now is to step up their game and employ the use of digital technology to improve their offering. He said, “In today’s fast-paced digital environment, businesses need to leverage advanced tools and strategies to stay ahead of competition.” He added that any IMC professional that does not employ the use of technology in today’s fast-paced marketing space will be left behind and has himself to blame.
For many experts, IMC professionals have to dig deep into digital technology and find how to incorporate it into the business of marketing communications. They said the examples where some global brands are spending millions of dollars on influencers who have great amount of presence on social media because of digital technology should be a serious lesson for IMC professionals before they lose their relevance to these tech savvy individuals.
They say while technology enables the collection and analysis of vast amounts of data, which can be used to refine advertising strategies, advertising professionals can create more personalized and effective campaigns by leveraging data analytics and AI-driven insights. This might lead to a shift away from generic, mass-market advertising towards targeted and personalized approaches.
Predictive marketing
Interestingly, Okusaga said, what IMC professionals should be thinking about now is predictive marketing and jettison generic marketing approach because, it’s evident that what started during the new normal era orchestrated by Covid-19 period has shown that digital technology has power to enable businesses to move their operations online, including advertising.
Finding revealed that digital advertising is gaining prominence due to its ability to target specific audiences, measure effectiveness, and offer real-time adjustments. This shift will continue to lead to a decline in traditional advertising methods like TV, radio, and print, potentially impacting the revenue of traditional advertising agencies.
Hope
With the unveiling of Market Engine by Precise, it is evident that it’s solutions have the capacity of empowering marketing professionals to unlock the full potential of their campaigns, deliver exceptional customer experiences, and drive tangible business results.
Reeling out the company’s competencies, Managing Director, Market Engine, Bolaji Okusaga stated, “As we have done with other various proprietary tools in creating business solutions, Market Engine is exploring the idea of creating a confluence between creativity and technology in ways that further create significant values for our clientele. This is the new normal of communication technology.
“Through our disruptive approach to marketing communication, we are redefining storytelling by using the wheel of technology as the prime mover and systemic design that aligns the focus of our clients from a new perspective through audio-visual content aggregation that drives seamless Buyer-Seller relationship management.
Okusaga noted: “With the application of creativity, design, and technology, Market Engine is opening up a new frontier in the digital communication market and setting pace for innovative ideas that will usher in the much-desired optimal delivery of good service through our wide range of offerings.”
He believes that relationship between digital technology and marketing communication industries could indeed reshape IMC landscape and require traditional players to adapt to the changing digital landscape.
Photo credit: The Enterprisers Project
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