In the wake of rapid technological advancements, Tunji Adeyinka, Group Managing Director of Republicom Group and past President of the Experiential Marketers Association of Nigeria (EXMAN), has highlighted the transformative impact of digitalization on organizations aiming to drive sustained growth and enhance consumer experiences.
Speaking at the ARCON Industry Colloquium held at the Sheba Events Centre in Ikeja, Lagos, Adeyinka shared critical insights into the profound influence of technology on the advertising industry. The event, themed “Harnessing Emerging Technologies for Sustainable Advertising Education and Professional Excellence in Nigeria,” brought together industry experts to discuss the future of advertising amidst technological innovations.
Highlighting the drastic changes over the past decade, Adeyinka noted, “Ten years ago, we shot a commercial with a budget of several billion dollars. In 2024, clients no longer provide that kind of money. Now, with the same budget, you can produce 10 or 20 commercials. This shift towards efficiency is driven by technology.”
He pointed out that the increasing penetration of smartphones and broadband has significantly influenced marketing strategies. “Globally, about 63% of marketing spend is now directed towards digital media. This isn’t just classic digital marketing, but digital as a core component seen in content, outdoor advertising, brand experiences, PR, and more.”
Adeyinka further emphasized that changes in the industry are inevitable as clients seek greater efficiencies and as audience lifestyles evolve. “Visuals in presentations now often incorporate AI-generated images and voices. This trend will continue to grow, impacting various sectors differently.”
One of the most significant areas of growth is experiential marketing, particularly through personalization. He explained, “Personalizing consumer experiences can boost loyalty by up to 60-70%. Technology allows us to scale these personalized experiences, making each consumer feel unique.”
Alluding to the Coca-Cola “Share a Coke” campaign as an example of successful personalization, Adeyinka said, “This campaign, where consumers could have their names on bottles, significantly boosted sales and loyalty in a competitive market.”
He also pointed to streaming services like Netflix and Amazon as exemplars of effective data use for personalization. “They ask for feedback on content and use this data to tailor future recommendations, enhancing user engagement.”
Adeyinka stressed that data is the foundation of personalization. “Banks, telecom companies, and credit card companies have vast amounts of first-party data. This data can predict consumer preferences and create personalized experiences.”
The colloquium, an annual event aimed at fostering a synergistic relationship between academia and professionals, underscored the necessity for the advertising industry to adapt to technological advancements. It also highlighted the importance of higher learning institutions integrating new technological tools to deepen the learning process. As Tunji Adeyinka concluded, “Technology is already reshaping the marketing space, especially in experiential marketing. Embracing these changes is crucial for staying relevant and efficient in today’s market.”
The ARCON Industry Colloquium continues to serve as a platform for exploring how emerging technologies can sustain advertising education and professional excellence in Nigeria.
