The focus of small and big marketing communication agencies this year is to ensure they consolidate their business relationships but with eagle eye on possible new deals.
The agencies may not give the opportunity to their clients to begin to search for new partners for consumer engagement as many of the marketing agencies are prepared to show dexterity to sustain their trade relationship by being innovative, creative and surpassing the expectations more than they offered last year.
Last year was particularly stressful for businesses in most sectors, but this year, many of the clients are expected to push for more market engagement for their products which will either allow them to leverage the services of the existing agencies or create opportunity for new deals with new agencies.
Definitely, this year will open up stiffer competition among players in some key sectors of the economy such as banking, telecoms, and the FMCG sector, a communication expert told BusinessDay and what this means for brand owners in these sectors is that they will need to do more on consumer engagement.
Similar to South African economy, this year in Nigeria will be an epic fight for survival for many businesses as numerous socio-economic factors come into play that will further challenge their efforts, according to findings from research published in Bizcommunity.
This includes the ability to achieve greater levels of customer satisfaction in a bid to retain and grow their customer base and abysmal economic growth figures.
This is the takeout from a wrap up of the South African Customer Satisfaction Index conducted by Consulta during 2018/2019 which polled almost 35,000 consumers across nine different sectors to obtain highly scientific insights into the overall level of satisfaction of their customers – namely airlines, banks, clothing retailers, mobile telcos, medical schemes, municipalities, life insurers and short-term insurers.
“These exacerbating socio-economic factors come at a time when businesses and in fact entire industries are grappling with immense disruption, and how to integrate technology, artificial intelligence and data analytics into existing business processes as enablers towards the ultimate customer experience while achieving crucial operational efficiencies. Many long-established brands are fast realising that new disruptor competitors come with the distinct benefit and agility of a new slate – they simply don’t have the outdated legacy systems, processes and mindsets to integrate into truly customer-centric ways of doing business”, the report said.
