By Toye Faleye
The customer is now firmly in control, no longer waiting for brands to dictate their purchases. With the rise of the internet, social media, smartphones, e-commerce, fintech, and artificial intelligence, the balance of power has shifted significantly towards consumers.
Dr. Bolajoko Bayo-Ajayi, the President of the National Institute of Marketing of Nigeria (NIMN), represented by Femi Adeniran highlighted this shift during her keynote speech at the MediaConsortium Conference & Awards 4.0. The event was themed “The Value Shift: Strategies for the New Market Reality in the Age of the Empowered Consumer.”
In her talk, titled “The Day the Customer Took the Wheel,” Bayo-Ajayi emphasized that today’s most influential customers are those who are well-informed.
These consumers take the time to research products, compare prices from different competitors, read reviews, seek advice from others, and increasingly rely on artificial intelligence before making any buying decisions.
She pointed out that these savvy consumers often won’t voice their dissatisfaction directly to a company.
Instead, they might just take their business elsewhere, leaving companies puzzled about why they lost a customer.
Bayo-Ajayi noted that the traditional marketing model, where brands had control over products, information, distribution, and media, is gradually losing its grip due to technological advancements and digital innovations.
“Consumers have gained access to information, then choice, then voice—and now, they’re becoming more intelligent,” she remarked, adding that while businesses can manage their ads and websites, they can’t control what customers say about their experiences.
He stressed that this shift is especially important in Nigeria, where consumers are navigating economic challenges while also aspiring for quality, convenience, status, experience, and progress.
She warned against viewing Nigerian consumers as merely “price-sensitive,” arguing that they are becoming more “value-sensitive” and want to understand what they’re getting in return for their investment.
She introduced a fresh value equation—VALUE = RELEVANCE × TRUST × EXPERIENCE × OUTCOME.
Here, relevance looks at whether a product truly addresses a customer’s issue, trust gauges if the customer believes in the provider, experience assesses how smooth it is to interact with the organization, and outcome measures if the customer’s situation has genuinely improved.
The president of NIMN emphasized that businesses need to shift from just making promises to actually providing proof that those promises hold water.
She insisted that claims about caring for customers, being innovative, or offering premium quality must be backed by solid evidence, as consumers now evaluate brand promises based on their real-life experiences with products, services, and customer support.
“The brand promise gets you considered; brand proof gets you believed,” she stated. He also pointed out that customer experience has evolved into a form of media, as every interaction with a business sends a message about the organization.
He highlighted that advertising, websites, WhatsApp responses, sales interactions, payment systems, delivery, complaints, and refunds all contribute to a seamless journey for consumers, no matter how many departments are involved behind the scenes.
Furthermore, she noted that customers themselves have become powerful media channels, capable of reviewing, recommending, criticizing, and influencing large audiences, which means brand narratives are increasingly shaped in collaboration with the market.
Regarding artificial intelligence, Bayo-Ajayi remarked that the pressing question for marketers is no longer just about how to leverage AI, but rather what happens when consumers use this technology to navigate the marketplace.
Se imagined a future where consumers could easily use AI to compare prices, read reviews, uncover hidden costs, and figure out which products or services truly deliver the best value.
She pointed out that this shift would make it much harder for businesses to hide subpar value since consumers would have more access to information and comparison tools at their fingertips.
“AI will simplify marketing efforts, but it might also make it tougher to disguise mediocre value,” she noted. Bayo-Ajayi emphasized the need for marketing professionals to expand their roles, suggesting that they should go beyond just communication and get involved in product development, pricing strategies, customer experiences, data analysis, technology, and overall business strategy.
She argued that a true focus on customers should lead to tangible changes within organizations whenever feedback is received, impacting products, processes, policies, and performance targets.
She painted a picture of the future marketer as an “architect of value,” someone who can bring customer insights into the boardroom and translate them into actionable strategies.
She also stressed that the Nigerian marketing profession needs to evolve, preparing its practitioners for a marketplace increasingly influenced by data, AI, behavioral science, customer experience, digital ecosystems, sustainability, and analytics.
Bayo-Ajayi pointed out that the NIMN’s role extends beyond just providing professional qualifications and recognition; it should also define what it means to be a professional marketer in Nigeria by 2030.
Wrapping up his address, he remarked that the balance of power in the marketplace has shifted, with customers, employees, creators, communities, and intelligent machines now able to amplify information and sway public discussions.
She concluded that the main challenge for brands is no longer just about grabbing attention, but rather about demonstrating what they do that truly deserves it.
“The consumer has taken the wheel,” Bayo-Ajayi asserted, highlighting that the competitive edge for marketers is increasingly about authenticity and value.
Do you think consumer has taken the wheel?
