Assessment of IMC Landscape In 2016 And Predictions For The Rest Of 2017
The Integrated Marketing Communications, IMC, landscape in 2016 was initially characterised with uncertainties, premised on the apprehension created by the change in the political landscape; new government, new policies which also came with its resultant ripple economic effect on businesses, institutions, brands and the market as whole. And with such economic impact, the first area, in most cases, organizations would want to shrink its budget is in the area of marketing communication budget. So, in 2016, there was uncertainty, business decisions were delayed, marketing communications budgets were reduced which forced some agencies to downsize, close shop or get more strategic and innovative in their business positioning. We also witnessed the infiltration of some foreign media/PR/Ad agencies into the Nigerian IMC landscape, which wasn’t healthy in some way for the indigenous firms/agencies.
On the clients’ side, they looked for more ways to make more impact in their marketing communication drive with less spending. The days of ‘marketing jamboree’ without any measurable impact were gone; the need to be more strategic in planning, execution and evaluation became more critical. New media also began to gain more traction than traditional channels.
However, there’s been quite some stability in 2017 and the business outlook seems more promising as compared to 2016. However, for agencies to remain relevant in this day and time, there has to be something ‘MORE’ they have to offer and which also has to be in synch with the clients’ ‘need state’. I believe that the sky is big enough to contain all who can fly as high as they desire, but remaining in the sky depends on how you build a sustainable business model that is relevant to today’s challenges in the IMC environment. The future looks bright for those who prepared for today, yesterday
Secret Behind Agency’s Consistent Success in the Nigerian Advertising Industry
Black And Precious Communications as an agency has remained relevant, though as underdogs, in the IMC terrain by maintaining focus on our vision, which is to be the best IMC firm from Africa by providing ‘glocal’ innovative solutions, uncommon ideas, and excellent service experience to top of the range clientele.
As a young but dynamic agency, we have evolved over the years as a brand in spite of daunting challenges, harsh economic environment and stiff competition. In executing our work, we have global standard and best practices in view though we operate locally from Nigeria; that’s how we arrived at the term ‘Glocal’ (Global plus Local). We have learnt how to say ‘no’ and when to say ‘yes’ when it matters the most without hurting any brand. We know we cannot be everything to everyone so we take as much as we can handle in order to maintain our brand integrity.
Our success as an agency cannot be dissociated from clients who believed in us and gave us the opportunity when it didn’t seem like we had anything to offer. No matter how creative or innovative you are as an Agency, if a client doesn’t give you the opportunity and platform to express what you’ve got, then that idea is as good as dead. A bright idea that doesn’t see the light of the day is useless. As an agency, we listen, observe and absorb what is necessary to deliver for the brands in our portfolio, our clients, the market, our people and the nation where we operate.
Successes Recorded By Black And Precious In 2016
In 2016, firstly Black And Precious started a 360 degrees evolution and repositioning. We have had some tough times, made mistakes and learnt our lessons. This helped in recalibrating our global outlook and operational standards. With this, we were able to win new international brands into our portfolio and increase our value proposition to our existing clients. Most of the work done and new accounts in the agency was as a result of referrals
Core Values or Operational Philosophy
There are three pivotal elements in our operational philosophy that have consistently put us ahead, and these are PEOPLE, BRANDS, and NATIONS. We put these in focus while working on any brand/brief whether big or small, in the global or local environment/market. The first one is PEOPLE; we understand that our work goes beyond making products sell in the market place; it is about creating intelligent connections between the brand and with the people.
The second is the BRAND; the primary reason why we take up the challenge to build, position and/or reposition brands is so that they may thrive to deliver better value for life. It’s not just about the commercials but better value for life to everyone that associateswith it. Lastly on our business value pivot is the NATION; through our work, we strive to make positive impact in the nations where we operate by creating viable opportunities for human development and economic growth. We are passionate about youth development, empowerment and knowledge transfer, and this has led to the birth of a non-profit initiative called the Incubator, which we intend launching by the end of 2017. It is our own little way of giving back to the societies where we have presence or operate.
Agency’s Competitive Edge
At Black And Precious Communications, our youthfulness in terms of ideation and size in terms of operational manpower remain our competitive edge. Though youthful, we have worked on and still handle some global and indigenous brands in our portfolio. We do not only ‘know our Onions’, we know and use all the ingredients and spices needed to make a brand do well in the market place.
Impact On Client’s Market Share
Well, the best way to assess the impact of an agency’s creative delivery in meeting the marketing communications requirements of any client is the mileage the campaign delivers based on set parameters or objectives. So the impact must be commensurate to the marketing spend. Thus, at Black And Precious Communications, through our ideation and strategic approach, we have consistently been able to build greater brand affinity, stronger traction, acceptability and increased knowledge whether it is through below the line or above the line activities, or new media engagements. Our clients bear witness to the results we deliver.
No matter the predictions, there are certain variables we must have a clear understanding of their dynamics in order to remain highly competitive and relevant. These are People and the Markets. An excellent understanding of these would help you know when to make a paradigm shift, and look beyond. At Black And Precious Communications, we believe that the market and business terrain is much more larger than Nigeria. There’s a global space and we are positioned to play in that global space now. This year, one of our plans is to establish our presence and operation in other climes starting with some viable markets in Africa.
Innovations To Look Out For In 2017
In 2017, we have already started on a very good note by launching in Nigeria one of the global innovative ICT brands. Our ideation and tactical creative delivery so impressed our clients that they had to adopt our work for the international markets. We are fully prepared and positioned to have many more of such creative spin this year.
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