The evolution of Marketing in Africa

I listen to a podcast by Reid Hoffman (Co-founder of LinkedIn and Paypal) on most mornings in the gym and on my way to work. I have found much inspiration in the stories he shares as he has interviewed a number of global leaders (Mark Zuckerberg, Sheryl Sandberg, Stewart Butterfield e.t.c.). One key theme that resonates with all the people he talks to is a theme he terms “infinite learning”. My take on this is the process by which human beings are capable of finding a problem, learning to solve it, mastering it then break everything down again to start from the beginning to rebuild the solution. It is part scary and partially exhilarating.

 We live in exciting times where the sands are shifting faster than our feet can move. In the past, marketing depended on broadcast methodologies to reach as many consumers as possible and therefore create proportional demand. Consumers relied on the broadcast channels and trusted what they were told. Those were simpler times. Currently, consumers exist in almost incalculable segments with such detailed differentiation that, variations the time and place at which the consumer is engaged make a difference. It is currently not enough of an effort to simply broadcast messages in the hope that consumers will see it and respond. Brands need to put in more effort to engage. This sounds like a lot of work, if traditional methodology is used.

Fortunately, developments in technology have created tools and techniques that simplify the process of consumer engagement. Consumer engagement has replaced simply broadcasting information. Research, data collection and interpretation have made it possible to predict degrees of success for different brands and products. We can now personalize messages for segments based on critical relevant insights rather than gut feelings. In many ways, this requires many marketers to completely rethink their approach to communications. It requires smart insights generated from data and consistent analysis. The internet allows consumers to find information for themselves. Consumers now value experiences and values shared with brands more.

The future of marketing lies not in integration, but, in shifting the focus to digital oriented, consumer centric marketing, from the brief to the report. Research companies are also feeling the pinch with the realization that their data collection and analysis business model requires a revamp. They are costly, not always efficient and inaccurate at times. A new approach to marketing requires an understanding of relevant digital tools (many are invented daily but not all are relevant) to mine insights, a wholistic understanding of consumer characteristics and courage.

I’m taking on infinite learning. My specific approach is to learn how to understand my audience even better using relevant tools and the timeless principle of seeking a win-win solution for brands and consumers. The future looks exciting.