• Sunday, July 21, 2024
businessday logo

BusinessDay

AI-powered digital advertising will help businesses reach their goals more efficiently and accurately – Izugbokwe

AI-powered digital advertising will help businesses reach their goals more efficiently and accurately – Izugbokwe

Futuretech Media, an advertising technology company, recently unveiled a programme to empower digital advertising professionals in Nigeria. Itohan Izugbokwe, Country Manager, Futuretech Media, spoke on the company’s initiative at driving AI-powered performance marketing in Nigeria. Excerpts by JOHN SALAU:

There is actually AI for almost everything today; what is your take on AI in the IMC space?

Artificial intelligence is revolutionary, especially in digital advertising, where, if used properly, it can optimise ROI and reduce inefficiencies. By leveraging AI, advertisers and brands can analyse vast amounts of data to identify patterns and trends that would be impossible for humans to detect manually. This allows for more precise targeting, ensuring that ads are shown to the right audience at the right time, thereby increasing the likelihood of conversions.

Overall, AI’s ability to process large volumes of data and generate actionable insights makes it a valuable tool for IMC professionals looking to create more impactful and efficient marketing strategies.

Where/how does ethical AI come into play here?

Ethical conversations in digital really come down to usage. It is important to respect privacy and provide transparency when using consumer data, data collection and safeguarding sensitive information. Additionally, safeguarding sensitive information through robust security measures is essential to prevent data breaches and misuse. By prioritizing ethical data usage, companies can build trust with their audience and maintain a positive reputation in the digital space.

There is always the fear of abuse with the deployment of AI; how do we address this fear?

Addressing the fear of abuse with the deployment of AI requires a multi-faceted approach that encompasses transparency, regulation, education, and ethical practices. By implementing the right ethical frameworks, ensuring robust data privacy and security measures, organisations can address the fear of AI abuse, build trust with stakeholders, and ensure the responsible and ethical deployment of AI technologies. It is also critical to take intentional step such as advocacy outreaches that can reduce the fear of abuse and promote the responsible and ethical deployment of AI technologies. Futuretech prides herself in respecting privacy and data protection, we 100% comply with regulations such as GDPR & CCPA and use best in class safety partners.

What is your take on AI-powered performance marketing?

AI-powered performance marketing has revolutionised the way businesses approach their marketing strategies, offering numerous advantages that enhance efficiency, targeting, and ROI.

I believe that AI and performance marketing is a match made in heaven, it has all the parameters for success and is a surefire way to ensure results for performance objectives in digital marketing. Put this way, Artificial Intelligence algorithms make analysing data, forecasting, optimizing campaign results better, which gives room for great results. Overall, AI-powered performance marketing is a powerful tool that, when used effectively, can drive significant improvements in marketing outcomes, helping businesses reach their goals more efficiently and accurately.

Is AI performance marketing applicable to individuals or is it just for marketing firms?

I would say that even in firms, people manage performance marketing campaigns. The individual needs to follow the right framework which includes defining clear cut marketing objectives, choosing the right platforms/DSP, audience segmentation, optimization, monitoring, and reporting. The advantage that firms like ours have over an individual running a campaign is a fully operational team behind the operations person. AI-powered performance marketing offers valuable tools and capabilities that can benefit both individuals, brands and advertisers, allowing them to leverage AI to manage large-scale campaigns and complex datasets.

What is the cost implication of deploying AI powered performance marketing to an average client in Nigeria?

The appeal of AI-powered digital advertising lies in its focus on delivering the specific results desired by the client. The cost implication of deploying AI-powered performance marketing for an average client in Nigeria can vary widely depending on several factors, including the scope of the project, the specific AI tools and platforms used, and the level of customization required.

This tailored approach ensures that pricing is customized to meet each individual customer’s needs and goals.

What innovation would it bring to the Nigerian advertising and IMC ecosystem?

In essence, the integration of AI-powered innovations has the capacity to transform the Nigerian advertising and IMC landscape. It empowers brands and advertisers to craft campaigns that are not only more personalized, efficient, and impactful, but also adept at meeting the ever-evolving expectations of consumers. This innovation is transforming the way businesses engage with their audiences and measure the effectiveness of their campaigns. By leveraging the latest technologies and data-driven insights, Nigerian businesses can stay ahead of the competition and drive better results for their brands.

Let’s go away from AI and talk a bit about your person; who is Itohan?

Itohan Izugbokwe is a seasoned leader with diverse experience especially in digital tech, marketing strategy and business management. I am the country manager of Futuretech, a company headquartered in Dubai (with offices in Lagos, Johannesburg, Capetown, Saudi Arabia, and Singapore) that provides next generation technology solutions and combines brand level studies, shoppable media and conversational ads to achieve brand outcomes for all types of clients. I am responsible for driving business growth, fostering strategic partnerships, and leading cross-functional teams to success. Additionally, I hold a certification as a Scrum Master, bringing a unique blend of leadership and agile expertise within the Futuretech team in Lagos. Also, I am passionate about driving innovation and empowering teams, and committed to sharing insights and expertise to inspire others in the advertising industry.

Within three years of launching and leading the business in Lagos, Futuretech Media has experienced significant growth, working with major players in the public and the private sector. As the country manager, I contributed to the successful market launch of other tech platforms that help brands and advertisers achieve their key performance metrics. I am also committed to empowering the youth, and has developed impactful training programs that equip them with invaluable training and mentorship for fresh graduates interested in the digital space.