Marketing Trends
Almost all marketing respondents to a Warc survey say the impact of the recession is affecting their planning.
EXPERIENTIAL MARKETING
Seeing beyond traditional experiential marketing strategies
By our News Team | 2021
Nigerian agency boss discusses the need to see beyond the experiential marketing space in ‘the age of the new normal’.
“I think there’s always an opportunity for the experiential industry. However, there’s reason to engage the market in a new way. This is because, along the way, some competitive advantages are going to wane and new ones will evolve,” Victor Afolabi, founder of a Nigerian experiential marketing agency GDM Group, has told Marketing Edge, Nigeria
Photo by GDM Group
Afolabi takes a look at the practice and challenges of the experiential marketing business in the age of the new normal, a recessionary Nigerian economy, and the future.
“Today we have a recession, which has a direct impact on the kind of industry which we have. This is more about creating connectivity, engagements and one-on-one contact with people. It is about creating and involving people’s senses through what I call ‘senspiration’ engagements.
“However, there are opportunities which speak to the core of our activities. Two things will definitely exist: brands and her customers. Brands will definitely want to continue to engage with their consumers,” he says.
Key factors that will underpin experiential marketing
“The key factor is creativity. We ourselves need to be creative and employ technology. We also need to understand and create deeper engagement with our consumers in new ways. I believe this is the best way,” Afolabi emphasises.
“Clearly, there were the times of plenty. I would say that the post-recession is for us to retool and initiate developments of new and fresh competencies. These can help us create deeper engagements, open new markets and build future markets for the brands we represent.
“The experiential agency of the future is an agency which will still be able to create that deep engagement using the five senses.
“However, they must understand how technology is shaping the new narrative, the new world and the new normal. I do not see how an experiential agency that does not understand the power of data and that does not employ the power of technology in its engagements, measurements and assessments aim to survive in the post-Covid world,” he says.
Source: Marketing Edge, Nigeria
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