Marketing experts identify AI, data, customer experience as drivers of business growth
By Tunji Faleye
Marketing experts have identified artificial intelligence (AI), data ecosystems, customer experience and purpose-driven brands as key elements of a new marketing blueprint for business growth in an era when consumers are increasingly sophisticated and better informed.
Lampe Omoyele, Managing Director/CEO of Nitro 121, a respected business builder and marketing expert, urged brands to adopt comprehensive growth strategies, stressing that segmentation, targeting, positioning and differentiation remain imperative in the current marketing ecosystem.
Speaking as the keynote speaker at the Fifth Annual Public Lecture of the National Institute of Marketing of Nigeria (NIMN), Ikeja Chapter, Omoyele addressed the theme, “The New Marketing Blueprint: Driving Growth through AI, Customer Experience, Data Ecosystem, and Purpose-Driven Brands.”
According to Omoyele, citing PwC’s findings, “Customers will pay up to a 16% price premium for a great customer experience.”
He added, “Research consistently shows 88% of Nigerian consumers will pay a premium for a superior experience. Therefore, customer experience is not a cost center. It is a growth center.”
He advised marketing professionals to move away from making decisions based on assumptions and instead embrace precision-driven decision-making to achieve business growth.
Professor Lere Baale also urged marketers to put consumers at the centre of their strategies, stressing that marketing begins and ends with consumers.
He noted that marketers must develop consumer-focused strategies supported by artificial intelligence, recognizing that their relevance stems from consumers having choices in the marketplace.
Prof. Baale also called for a broader approach to brand marketing, arguing that the responsibility for promoting an organization and brand should not rest solely on the marketing department. Instead, he said, all employees should play an active role in marketing the brands and the organisation to drive sustainable growth.
He challenged organization’s leaders to reflect on some critical questions: Do they truly understand their customers? Where can AI create real value for their businesses? And do they have integrated data systems to support informed decision-making?
He advised marketers to prioritize earning consumer trust as a foundation for building purpose-driven brands capable of delivering meaningful and sustainable growth.
Panelists at the NIMN’s Annual Public Lecture, including Prof. Bolajoko Dixon-Ogbehi, Kehinde Onanuga and Bodam Taiwo, also urged marketers to leverage decision science, consumer insights and analytical thinking to drive brand growth with the support of artificial intelligence.
They emphasized the importance of using data-driven insights to understand consumer behaviour, make informed marketing decisions and develop strategies that strengthen brand performance in an increasingly competitive marketplace.
Delivering her speech, Bolajoko Bayo-Ajayi, president, National Institute of Marketing of Nigeria (NIMN) said this year’s theme, The New Marketing Blueprint, reflect the transfomation taking place across marketing profession and the wider business environment.
She said marketing is no longer defined solely by advertising, communication or demand creation. She said, “It is increasingly shaped by technology, data, changing consumer expectation, innovation, and the ability of brands to drive relevance and create meaningful value.”
She added that the sub-theme, Driving Growth through AI, Customer Experience, Data Ecosystem, and Purpose-Driven Brands captured key dimension of this transformation.
“AI is reshaping how we understand consumers, interact with them, make decision, and deliver personalized experience. Customers increasingly expect seamless, relevant, and human interactions, while data has become a strategic asset. At this time, purpose-driven brands are expected to demonstrate value beyond commercial performance.” She said.
In the same vein, Onome Odili, chairman NIMN, Ikeja Chapter, said because marketing landscape has changed dramatically, consumers have changed, and technology has also changed, adding that the rate at which these changes are occurring has increased.
She reminded marketers that Artificial Intelligence is no longer a conversation about the future. “It is already transforming how brands understand consumers, create content, personalised experience, analyze information and make decisions.” She said.
She advised that marketer would become better with the early adoption of Artificial Intelligence.
Industry leaders, marketing professionals and marketing students of tertiary institutions across Lagos and Ogun states attended this year’s annual public lecture.
Do you believe in their suggestions?
