By Henri Uche
With the dynamic nature of customer expectations and consumer behavior, the need for marketing practitioners to be proactive and meticulous with their customers becomes imperative as technological and digital disruptions reshape the entire world. Business.
That was the stance of marketing experts at the National Institute of Marketing of Nigeria (NIMN) Annual Marketing Conference 2022 which saw its 17 members inducted as Fellows, in Lagos recently.
With the theme: “Driving Business Sustainability In The Age of Data & Technology”, they alerted marketing personnel not to take data and digital disruption for granted and to incorporate customer expectations into their planning and its decision-making as the central point of the activity. .
Speaking at the event, keynote speaker, Kolawole Oyeyemi – CEO of Axiom Intel Limited, (a technology-focused business strategy and solutions company) instructed the marketing fellows to disrupt otherwise they would be disturbed. “Disturbance is a necessity, if you don’t disturb yourself you will be disturbed by others. Gone are the days of competitors in the same industry throwing you off balance, now someone from a different industry comes in with a different tech and knocks you out, so we need to think about how we can disrupt each other so we can endure the taste of time,”
Oyeyemi argued that a powerful strategy that gives businesses a chance for sustainability and access to global resources and cutting-edge ideas in fields or industries was business mobility functions.
According to him, companies no longer need to store all functions in one geographic area with the attendant costs, noting that operations could be located in areas where cost advantages are possible and still be monitored. remotely and centrally controlled.
“Besides the financial benefit, it also allows faster access to distant markets. The Internet of Things (IOT) Makes It a Current Reality Organizations that want to pursue sustainability in the age of data and technology cannot afford to pretend to talk about digitalization.
“Simply leveraging technologies to digitize operations, assets and workforce augmentation cannot be enough in the digital economy. If you are serious about capitalizing on emerging opportunities in the digital economy, there is a need to totally rethink and redesign structures, culture, business models and revenue models, route to market models, etc.”
The marketing strategist emphasized that organizations need to radically transform from within. He denounced the number of companies that are stealthily approaching digitization. “It’s almost as if it were a fad that will fly away like others before it. This is a serious mistake that can prove very costly in the immediate future.
“A powerful strategy that is virtually difficult to replicate is a great customer experience strategy. In the digital economy, this is most critical. Many people are still locked into the old model of customer service or customer relations which is more reactive than proactive; more accidental than intentional.
“It’s more important than touchpoint management. It is a deliberate strategy that focuses on designing the customer journey before designing the product, service or solution. Loyalty and churn reduction are by-products of a well-thought-out, comprehensive customer experience strategy.
“The digital customer has high expectations and will not hesitate to punish you if you do not meet their experience expectations. However, if you consistently meet their experience expectations, you can reduce your costs. marketing costs and your selling costs, because customers become your advocates”,
He also emphasized the “customer ownership concept” and the need for a sustainable strategy to own the customer in order to achieve guaranteed sustainability. “If you can deliver great experiences, you can leverage them across all verticals.
“A lot of analytics and data mining is needed to get customer insights to design the right customer journeys, define performance metrics, and organize the entire organization to get there, from the CEO to the gatekeeper. .
“We need to hire skills that can travel across categories and domains. That way, when you migrate to other verticals or even entirely different companies, you don’t couple and decouple skills.
“Business sustainability in a Volatile, Uncertain, Complex and Ambiguous (VUCA) world of data and technology disruption is an ongoing discourse. However, if you approach sustainability from a business, model, structure, intentional digitization and a robust customer experience platform, you have a very good chance of succeeding,” he asserted.