Critical stakeholders in the marketing industry have decried the increasing decline of public confidence in influencers, despite the fact that 60 per cent of advertising budgets are currently allocated to them.
This is even as they have stressed the importance of using data and insights to drive sustained and authentic communication that fosters brand engagement, loyalty and patronage.
Faculty director at Lagos Business School, Uchenna Uzo, at the 2024 Annual Marketing Conference, in Ibadan, Oyo state, said 60 per cent of advertising spend is currently directed toward influencers, yet there is a growing decline in trust in celebrity influencers, adding that, “Consumers today seek authenticity and relatability in the brands they engage with. By focusing on these elements, marketers can build brands that are not only locally impactful but also globally recognised and respected.”
Uzo, while delivering a keynote speech on “Innovative Approaches to Marketing Nigerian Heritage,” emphasized how crucial it is to use data and analytics to create consistent, genuine communication that encourages brand engagement, loyalty, and sales.
According to Uzo, Nigeria is not one market; it is a conglomeration of markets, even as he emphasized that building local brands for global relevance requires understanding the cultural nuances of different markets. A one-size-fits-all approach to brand building in Nigeria will not deliver the desired outcomes, he affirmed.
“To build authentic brands with global relevance in Nigeria, we must start with consumer insights. Without these insights driving our branding efforts, our strategies will falter. Consumer insights are fundamental because branding is not about what you claim to be; it’s about what your customers say you are when you’re not present. Effective branding requires a message that resonates with diverse audiences, enabling the creation of regional, national, and global brands. It’s crucial to be mindful of the cultural nuances of different markets, as what works in one area may not necessarily work in another,” Uzo explained.
The faculty director emphasised the importance of ensuring that marketing messages are credible, memorable, likable, and consistent; additionally, leveraging user-generated content (UGC), optimizing distribution, focusing on the quality of customer experiences, and utilizing compelling storytelling are vital for building an enduring brand that transcends national boundaries.
In the same vein, a veteran marketing professional, Prof. Justine Nnabuko, while, delivering a compelling paper titled “Empowering Nigerian Brands: Leveraging Local Content for Cultural Success,” highlighted the necessity of a clear understanding of strategic differentiation, cultural nuances, digital compliance, and localization at all levels for successful branding in any economy.
“Empowering Nigerian brands involves harnessing local content to achieve global success by emphasizing and implementing robust local content strategies and flagship programs,” Prof. Nnabuko stated. She noted that global market instability, supply chain uncertainties, changing consumer demands, and national security requirements necessitate strategic localization and investment in local value creation.
Prof. Nnabuko emphasized that brands resonate more deeply with local consumers and appeal to global markets when they incorporate the country’s rich economic heritage, diverse traditions, and unique offerings. She advocated for local content inclusiveness to ensure brands are culturally relevant and globally competitive.
Meanwhile, the National Institute of Marketing of Nigeria (NIMN), the premier body for marketing professionals in Nigeria, has inducted new members into various membership categories, underscoring its commitment to fostering high standards of professionalism and expertise in the industry.
The induction ceremony, which took place during the Annual Marketing Conference, saw over a hundred marketers conferred as Associate Members, Full Members, and Fellows of the Institute after a thorough assessment and confirmation process.
Addressing the new inductees, president and chairman of the NIMN Council, Idorenyen Enang, emphasized the importance of upholding the highest standards as marketing professionals. He urged them to familiarise themselves with the NIMN Act, stressing that ignorance of the law is not an excuse. Enang encouraged the inductees to contribute to the Institute’s growth and development and to leverage various interventions aimed at expanding their knowledge and expertise.