Stakeholders in advertising industry have described the need for Small, Medium Enterprises(SMEs) to change their business operational model and rethink business strategy by leveraging technology and partnership to birth innovative ideas for sustainable growth.
This was the thrust at the Advertisers Association of Nigeria(ADVAN) Summit themed: ‘Marketing as a Tool for sustainable Business Development.’
Speaking on the sidelines of ADVAN Summit, chief executive officer/executive director of the association, Ediri Ose-Ediale, revealed that, ADVAN is 30 years strong and controls about 90 per cent of marketing spending in Nigeria which is over N200 billion per annum.
According to her, before now, ADVAN membership had really been about multinationals and large corporations like the MTN, Coke, Cadbury and many others which calls for the need to support other business to enable them grow in likewise manner.
In addition, she said, “We need to support SMEs to become leading brands and sustainable businesses. The insights and the knowledge that these organisations you see all over the world have is what we want to begin to share with you.”
Continuing, she said, “For ADVAN, the SME support for membership is not about money, it is just a token and it is even something that is negotiable. The ones that have come on board, they negotiate with me every day. It is not your money really. The big spenders are already with us. We need to support the Nigerian economy and all business because that is the bedrock of any economy and society and that is why we are doing this.”
ADVAN president, Osamede Uwubanmwen, averred that, ‘most SMEs do not plan to succeed but pray to succeed,’ emphasising the importance of planning before setting up a business and challenged SMEs to ensure they include tangible and handy plans that will enhance easier execution of other processes in the running of the business towards a sustainable growth.
The president advised business owners to begin to see their businesses as an entity, separated from its owners while cautioning them against flamboyant lifestyle that can wreck the business financially.
The head of Category, HPZ Limited, Samuel Akinrimisi, during his presentation, took a look at building sustainable SME brands from macro to micro level in order to drive growth for the owner, the brand and the industry.
He noted that any business set up is a brand and must publicly be distinguished from the clutter. The marketing expert urged SMEs to learn to create specific and personalised messages that will drive home their brand promise to enable consumers develop the right affinity and loyalty towards the brand.
Marketing director, Mastercard West Africa, Yosola Atere, who also doubles as 2nd vice president of ADVAN, featured virtually, while reaffirming the rapid changes and shift in the ecosystem which she challenged every business owner to be in tune with.
