The speed of change experienced now is unprecedented in human history, buoyed by technological advancements and a new digital world. These advancements have disrupted global ecosystems, dismantled natural and artificial barriers, wrecked paradigms, and made nonsense of time-tested concepts and principles.

These seismic changes are more profound in the world of business with the marketing and marketing communication ecosystems undergoing transformations, rebirth with new paradigm shifts and trends taking centre stage.

The result? The birth of a wholly new digital economy in a world of Artificial Intelligence, Virtual Reality, machine learning, ever-evolving consumer patterns, and others.

As a result, businesses that held sway few years ago have gone the way of the dinosaur while new ones that play big in the digital economy are becoming the new leaders. It therefore becomes imperative that players in the marketing and marketing communication space must navigate shifts into the new world in order to maintain relevance and effectiveness in an environment where traditional metrics of success require fundamental reassessment.

Additionally, stakeholders in the Nigerian marketing communication space need to simultaneously address basic infrastructure challenges while preparing for advanced technology adoption. This dual imperative creates unique pressures but also opportunities for technological leapfrogging.

So how do businesses in the marketing and marketing communication ecosystem survive these changes and grow in this new world? To solve this hydra-headed challenge, stakeholders in the ecosystem converged at Abuja Continental Hotel for three days to brainstorm and gain new learnings that would make them survive and thrive in the digital economy.

Tagged National Advertising Conference 2024, the event had as theme “Navigating the Shifts: Technology, Culture and New Business Models” and was held from November 13 to November 15, 2024.

Kick-starting the discourse, the director general of the Advertising Regulatory Council of Nigeria (ARCON), Dr. Olalekan Fadolapo, pointed out that everyone was there because they needed to understand the shift and forge ahead. “This is a conversation for the industry, the regulator and the regulated. We believe at the end of this conference we will be better than before,” he said.

Support society and uphold ethics

The Minister of Information and Culture, Alhaji Mohammed Idris, advised advertising agencies and media companies to be agile and open to experimentation in order to remain relevant and competitive in today’s operating environment. “This means embracing partnerships, investing in continuous learning, and adapting strategies to stay relevant in a changing marketplace.while noting the impact of technology and what it is doing to the ecosystem, cautioned on its application as there are rules applicable,” he said.

“Digitalization has revolutionized advertising, allowing for personalization, real-time engagement, and greater accountability through analytics. Social media, artificial intelligence, and big data have created channels for brands to reach audiences in more meaningful and relevant ways than ever before.

He however cautioned that care should be taken as the ecosystem navigates the technological landscape so as to remain vigilant about issues like data privacy, cybersecurity, and the spread of misinformation and fake news. “Technology is a powerful tool, but one that requires ethical responsibility.”

He expressed government’s commitment to promoting policies that protect both consumers and businesses, thereby ensuring a digital ecosystem that promotes trust, transparency, and accountability.

The minister, who was represented by the director general of the National Orientation Agency, Mallam Lanre Issa-Onilu, recognized the importance of advertising as a tool of cultural orientation.

“Advertising reflects and, in many ways, shapes culture. As our society becomes increasingly interconnected and diverse, advertisers face the challenge of creating messages that resonate across a broad spectrum of demographics, languages, and values.

“Today’s Nigerian audience is young, dynamic, and incredibly discerning. They demand representation, authenticity, and social responsibility from the brands they choose to support. This calls for a new level of sensitivity and awareness in advertising. Our industry must embrace these shifts, celebrating our culture in all its diversity while setting standards for responsible communication.”

Idris noted that the shifts in technology and culture are accompanied by the emergence of new business models and advocated for credible advertising that upholds the ethic of the profession.

“In an era where consumers have greater power and control, advertising must evolve to be more collaborative, transparent, and value-driven. We are witnessing the rise of influencer marketing, subscription models, and direct-to-consumer brands that prioritize authentic engagement over traditional promotional tactics.”

The minister reiterated government’s support for a regulatory framework that encourages innovation, protects intellectual property, and provides an enabling environment for all players in this sector.

“As we stand at the intersection of these shifts, the government’s role is clear. We must work in partnership with industry stakeholders to create policies that support innovation, safeguard consumer interests, and encourage the growth of a robust advertising sector that contributes meaningfully to our national economy.”

ASP makes case for compliance

Dr. Emmanuel Agu, the chairman of the Advertising Standards Panel (ASP), advocated for greater understanding of the advertising code to enhance better compliance leading to a better industry.

He emphasized the need for advertising professionals to deepen their understanding of the advertising code of practice to enhance regulatory compliance. As the governing body for vetting and approving advertising content, the ASP upholds strict standards to ensure fairness, truthfulness, and consumer protection. “In the adjudication of law, sentiment has no place; the law is the law.

The ASP boss noted that the advertising code of practice exists to enforce ethical standards that protect consumers from exploitative practices, underscoring the importance of clarity in advertising promotions and urging brands to specify the number of prizes and other finite details. “Everything about regulation is about safeguarding consumers’ interests. Our economy is challenging, and deceptive practices undermine trust. If you claim there are prizes to be won in a promotion, you must be transparent about what is actually on offer.

Regarding the use of superlatives in advertising claims, Dr. Agu pointed out that terms such as “best” require clear substantiation, especially within competitive categories. “Superlatives must be finite. You can’t simply declare your brand as the ‘best’ without evidence. Comparative and superlative claims have clear guidelines in the code,” he said.

He further noted that many industry professionals, despite claiming familiarity with the code, continue to breach its guidelines, suggesting a gap in their comprehension. “Those who say they’ve read the code often make violations that indicate they didn’t fully understand it. The rules on comparative advertising and the use of superlatives are clear, but it’s crucial to thoroughly understand and follow them.

The ASP chair encouraged all advertising professionals to thoroughly read and understand the advertising code of practice. “The rules are set out for everyone. Take time to read and truly understand the guidelines, especially around comparative and superlative claims. With multiple brands competing in each category, you cannot simply assert superiority without substantiation,

Need for collaboration

Mr. Seni Adetu, Group CEO of First Primus West Africa, emphasized the importance of consolidation within Nigeria’s fragmented advertising industry.

According to him, the high number of agencies leads to inefficient standards, where clients often leverage competitive disadvantages.

“Consolidation will strengthen the industry, allowing fewer, stronger agencies to exist. The current fragmentation gives rise to challenges, with some agencies struggling as the market shrinks,” he posited, stressing that higher entry barriers could foster stronger, more competitive agencies.

Adetu also advocated for sound governance and the integration of technology to improve business efficiency. “Technology is meant to enhance the structural quality within an organization. It’s crucial to have a strong structure in place that technology can then amplify for efficient, profitable growth.”