• Wednesday, February 28, 2024
businessday logo


LBS, EXMAN set to empower marketers on consumers’ new buying behavior

LBS, EXMAN set to empower marketers on consumers’ new buying behavior

….Introduce experiential marketing programmes

In a development that promises to spur the growth of experiential marketing across Nigeria, the Experiential Marketers Association of Nigeria (EXMAN) has entered a strategic collaboration with the Lagos Business School (LBS) to empower marketers on new trends in consumers’ behavior.

It is said that consumers, based on data are changing their preferences due to economic realities including inflation, exchange rate, purchasing power and other exigencies.

The partnership is also seeing the introduction of new experiential marketing courses and training programmes which include client marketing management, strategic planning, integrated technology and innovations as well as courses on operations. This was unveiled by key stakeholders and executives from both bodies, in Lagos recently.

Tolulope Medebem, EXMAN President emphasized that a driving purpose behind the partnership is to expand understanding of what experiential marketing entails and why it matters.

She stressed that there is a gap in knowledge on experiential marketing among key constituencies, ranging from professionals in adjacent fields to prospective clients. As she succinctly put it: “A lot of marketing people, a lot of client and brand people need to understand what experiential marketing is all about.” Consequently, a core strategic priority is to have these crucial groups “come to understand and appreciate what experiential marketing is about.” Achieving this goal can help fuel the sector’s advancement.

Adding further, Uchenna Uzo, Academic Director of the Lagos Business School outlined the new educational offerings as serving three vital objectives: firstly, facilitating a “mindset shift” across the experiential marketing ecosystem to adopt cutting-edge techniques and insights about engaging consumers. Secondly, leveraging LBS’ academic expertise plus research to impart the latest learnings according to global best practices. As Uzo noted, “We would also be sharing deep insight from our research from experts who understand how this works.”

Lastly, the courses will enable invaluable dialogue and collaboration between all stakeholders to collectively elevate the industry. “Collaboration is another unique thing that the participants of this Experiential Marketing Management Programme will be exposed to as we aim to have the entire practice group (clients, expertise, operations, strategists) sitting on the same table to look at the issues together,” Uzo stated. Highlighting LBS’ results-driven approach, Uzo further noted that “Action is the third one, we don’t want to organize a programme where people will talk and go.”

EXMAN’s Vice President Angela Makinwa in her remarks, buttressed on why experiential marketing warrants such dedicated training and investment. She revealed that unlike traditional channels, experiential marketing provides multi-sensory brand experiences by activating touch, sight, sound, smell, taste and proprioception other human elements. “It starts a conversation, gives the consumers a voice, allows the consumer to ask questions and engage with the brand,” Makinwa elaborated.

“Additionally, at this challenging time for the Nigerian economy and consumers’ cautious purchasing, experiential marketing offers perhaps the best avenue for brands to tangibly connect with their target audience,” she said. Makinwa also argued, “there is no better time to invest in experiential marketing than now.”