mediaReach OMD, Nigeria’s foremost marketing and media agency, in its latest newsletter, posits that the changes caused bythe coronavirus (COVID-19) pandemic has led to the reimagination of everything inthe media and marketing ecosystem in quest of new normal.
Published in BusinessDay and titled “Reimagining Everything Amidst COVID-19,” the newsletter examinesthe turbulence in this period of the pandemic and howbusinesses will continue to be guided with key principles, including being ready for the day after.
Against this backdrop, the Managing Director of mediaReach OMD, NitinchandraNandekar, said theorganisationhas been monitoring changes in the media and marketinglandscape and also adapting to innovative ways of connecting with target audience, through data-led approaches to guide clients’ investments during the COVID-19 lockdown/post lockdown.
The media agency with presence in Nigeria, West, and Central Africa, stated in the newsletter,which is the fifth edition, that the pandemic has forced the media landscape to change based on supply and demand.
It pointed out that the deadly diseasehas brought about changesin the consumption ofproducts and categories;the way research was done and has triggered new ways of doing it. It had also changed the way communications /connections planning was done, has forced traditional markets to be more agile and adaptable, and has made consumers to redefine their needs, thereby leading to a strong notion of ‘realization’, termed reimagination.
The industry information sheet mentioned that the needed action required is for the media and marketing ecosystem to adjust the media mix to where the consumer is now, start ideating to get attention and deliver impact, invest in compelling content to deliver on objectives, adopt bespoke communication strategies and media plansin line with set objectives and the use of effective channels with consumers appeal.
It posits that marketers areswiftly addressing what is being desired now and what comes next, offering some early indicators in terms of insights and triggering the next steps, getting more focused on customer relationship management, and more agile as a crucial element of business development. It also submits that the pandemic has presented delivery companies with unexpected and overwhelming opportunities.
Also contained in the newsletter are the viewpoints that brands need to ensure strong availability, convenience and value, refocus to connect with and be relevant to consumers’ current needs, prioritize the most relevant product categories with efforts at ensuring its market success, as well as excellent brand strategy at all times.
For the media and marketing ecosystem to thrive, the newssheet further stated that there is a need for quantitative research as marketers have more data and analytical horsepower than ever before with signals from hybrid sources to aid movement to the next.
It further highlights that worthy of note are consumers behaviour which shows they are switching brands at unprecedented rates and with shopping intent focused on essentialswith value for money. It further mentioned that marketers are gaining a deep understanding of customers at granular levels by detecting changes in market demand and shifts in needs, as well as using these insights to target customers with the delivery of the right products/services.
For effectiveconnectionplanning, mediaReach OMD postulates that there should be real-time diving in data to pick indicators as facts, and leveraging opportunities that deliver impact, attention and engagement. Also, it advocatesconstant optimization of relevant touchpoints to drive business objectives, adopting measures of retaining top-of-mind awareness for brands, and constantlyrethinking the playbook for the next normal,for continuous reimagination.
