By Modupe Gbadeyanka
The regular change in consumer behaviour has continued to give companies and their chief marketing officers (CMOs) racking their heads on the best ways to sell their products.
This, according to McKinsey, has led to the need to regularly broaden the roles of marketing and the CMO.
“Today, many chief marketers focus mainly on building brands, making advertising more effective, and perhaps market research.
“Although these responsibilities aren’t going away, CMOs must address several other areas as well: leading company-wide change in response to evolving buying patterns, stepping up efforts to shape a company’s public profile, managing complexity, and building new marketing capabilities throughout the company as a whole.
“The relative importance of these new priorities will of course vary by company and industry, but the broad importance of reinventing the CMO’s role as a strategic activist is similar across them,” the platform stated.
On Friday, September 16, 2022, senior practitioners in the Nigerian marketing industry will gather in Lagos for this year’s CMO Forum of the Advertisers Association of Nigeria (ADVAN) themed Evolving Role of the CMO.
Expected to address the audience are the Managing Director of P&G Nigeria, Mrs Mokutima Ajileye; and the former Group Chief Marketing Officer of Dangote Plc, Mr Oare Ojeikere; with the Head Marketing and Communications at Access Bank, Mrs Chioma Afe, moderating.
In a statement, the organisers said the forum will provide a unique network of the nation’s marketing leaders with a platform to better navigate the fast-changing marketing landscape.
The meeting is open to only senior, client-side professionals such s CEOs, CFO, CMOs or the equivalent, according to the Chief Executive Officer of ADVAN, Mrs Ediri Ose-Ediale.
The theme intends to focus on leadership: insight into the challenges facing our industry: leading to the development of actionable solutions for the industry and specifically for ADVAN member companies.
“The ever-changing marketing environment has prompted the CEOs and CMOs to continually, to meet and share ideas and international and local best practices,” the president of ADVAN, Mr Osmade Uwubanmwem said.
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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN’s Richard Quest and Christiane Amanpour.
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By Modupe Gbadeyanka
More players are exploring the Nigerian solar energy market to provide consumers with better alternatives as the country battles with poor electricity supply from the national grip, which collapses at the slightest opportunity.
The latest entrant into the ecosystem is d.light, a global leader in social transformation. The company plans to flood the market with over 25 million sustainable products, including solar lanterns, solar home systems, TVs, radios and smartphones sold globally across over 70 countries.
At the launch of the brand in Nigeria recently, the chairman of the board, Mrs Ibukun Awosika, explained that the company’s goal is to bridge the gap and ensure inclusiveness for everyone.
“Our vision is to change the lives of billions of people on the face of the earth who cry for equity to have a chance to live a better life. We are in Nigeria to transform Africa one community at a time, and this is our driving force,” she said.
In his address, the co-founder and CEO, Ned Tozun, stated that d.light had employed over 6,000 people across Africa.
“Our target is lower-income individuals. There is the sun in the village and the cities, so when we just say a rural market, it is not. The guy who lives in Lagos but doesn’t have a generator shouldn’t even use a generator if he can have a solar solution. Why? Because of environmental sustainability.
“So, when you think about all the ESG matters, you will encourage more people to use alternate sources of energy rather than polluting sources of energy. That helps everywhere, whether you are in the city or the village. It is about lower income.
“What we’ve done is to think of the entire problem chain. Firstly, innovate the product. Two, how do you deliver it? Deliver it to them at the most reasonable price. Thirdly, make sure it’s affordable for them.
“How is it affordable? It is pay-as-you-go. They don’t have to look for the capital to buy. They look for signing-up, proving they have the ability to be able to pay every week – they have a different system: every week, every month, every day – are different available options, and as you increase your credibility ratio in terms of your performance, you then have opportunity to get into more,” he said.
On his part, the co-founder and president, Mr Sam Goldman, said, “The reality is that we are still so far from where we need to be in terms of our population and their needs.
“Hence, our target market is the low-income individuals, not just the rural communities, which is why the company adopts the ‘pay-as-you-go” model. Access to sustainable energy will not be possible except we solve the funding problem.”
d.light was established in 2007 by Ned Tozun, a Canadian, and Sam Goldman, an American, met at Stanford Business School. It has operated in several markets globally like India, China, Kenya, Uganda, Tanzania and Ethiopia before expanding to Nigeria.
Jumia, the leading pan-African e-commerce platform, has commenced its annual ‘brand festival’ campaign, targeted at promoting authentic products at the best prices directly from the manufacturers on the Jumia platform.
The campaign, which starts on Monday, September 12th and will run through October 2nd, 2022, offers millions of consumers nationwide the opportunity to buy original products from the official stores of several top brands such as Adidas, Samsung, Infinix, Umidigi, Nivea, DeFacto, Nestle, Bacardi, Intel/HP, Unilever, Pernod Ricard, Oraimo, Diageo, Coca Cola, Apple, and Xiaomi.
“The Jumia Brand Festival is not only for the promotion of authentic products, but it also serves as a means for consumers to get the best prices directly from the manufacturers on our platform. We are aware of the needs of today’s consumers, which is to gain quality goods at the most competitive market prices and that is the essence of this campaign. We have partnered with the best international brands to make their products accessible to consumers across the country, so consumers can spend less while buying more,” said Ijeoma Arum, Chief Commercial Officer, Jumia Nigeria.
“Partnering with Jumia is always an opportunity to co-create on providing customers with amazing offers on innovative Mobile and Electronics products which Samsung is best known for both locally and globally. With the current economic situation, it is imperative to ensure that customers are still able to access basic commodities that have a significant impact on their daily activities. The Jumia Brand Festival is set to provide this and we are happy to be a part of it,” said Oyebade Moses, Manager of e-commerce Group, Samsung Electronics West & Central Africa.
Consumers can take advantage of the amazing offers during the Anniversary Sale by simply downloading the Jumia App. The campaign will feature Treasure Hunt, Brand Days, Daily Check-In, and Flash Sales, where consumers can win exciting prizes and get further discounts on a number of products. The campaign is also providing free shipping on a wide range of products to consumers within Lagos, Abuja, and Ibadan.
By Adedapo Adesanya
Creative digital technology giant, Adobe, has entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for $20 billion in cash and stock.
In a press release seen by Business Post, it was stated that the combination of Adobe and Figma will usher in a new era of collaborative creativity.
“Adobe’s mission is to change the world through digital experiences. Today, the digital economy runs on Adobe’s tools and platforms, and throughout its history, the company’s innovations have touched billions of lives across the globe. From revolutionizing imaging and creative expression with Photoshop; to pioneering electronic documents through PDF; to creating the digital marketing category with Adobe Experience Cloud, Adobe continues to invent and transform categories,” the statement said.
When approved, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design and inspire global communities of creators, designers and developers.
The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders and the industry.
Speaking on this, Shantanu Narayen, chairman and CEO, Adobe said — “Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions.
“The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
With Adobe’s and Figma’s expansive product portfolio, the combined company will have a rare opportunity to power the future of work by bringing together capabilities for brainstorming, sharing, creativity and collaboration and delivering these innovations to hundreds of millions of customers.
“Figma has built a phenomenal product design platform on the web,” said Mr David Wadhwani, president of Adobe’s Digital Media business. “We look forward to partnering with their incredible team and vibrant community to accelerate our joint mission to reimagine the future of creativity and productivity.”
On his part, Mr Dylan Field, co-founder and CEO, Figma notes that “With Adobe’s amazing innovation and expertise, especially in 3D, video, vector, imaging and fonts, we can further reimagine end-to-end product design in the browser, while building new tools and spaces to empower customers to design products faster and more easily.”
Figma has a total addressable market of $16.5 billion by 2025. The company is expected to add approximately $200 million in net new ARR this year, surpassing $400 million in total ARR exiting 2022, with best-in-class net dollar retention of greater than 150 per cent. With gross margins of approximately 90 per cent and positive operating cash flows, Figma has built an efficient, high-growth business.
The transaction is expected to close in 2023, subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of Figma’s stockholders.
Upon the closing of the transaction, Mr Dylan Field, Figma’s co-founder and CEO, will continue to lead the Figma team, reporting to Mr David Wadhwani, president of Adobe’s Digital Media business. Until the transaction closes, each company will continue to operate independently.
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