With several marketing channels available to those who intend to market their products/services to customers, one might begin to wonder how much is spent on marketing campaigns in Nigeria yearly.
According to a research by Nairametrics, some mega-companies in Nigeria spent about ₦143.7 billion on marketing in 2020 alone. Now that the world is gradually recovering from the effects of the pandemic, businesses are spending a lot more to reactivate their businesses, acquire new customers, recover old customers, and simply deliver better services. While trying to do all these, most marketing companies in Nigeria still make a couple of mistakes when running campaigns for their clients and this negatively impacts their business.
Here are some of the most common mistakes marketing companies in Nigeria need to pay attention to.
Not Making Good Products
When a brand produces low-quality products/services, they will go through a more rigorous marketing process unlike those with impressive products or services. Instead of them doubling their customer base through word-of-mouth marketing, referrals, and other earned means, they will find out they are also not able to retain previous customers. This increases the cost of customer acquisition.
Although we can’t totally blame marketing companies for the poor products manufactured by brands, it’s only smart to be selective about which brands to take up as clients. You must be proud of your client’s products/services and be an advocate for them. No matter how well they pay you for your marketing service, if their products/services are horrible, you would not get great results and that could make them question your level of competence.
Having a Weak Strategy
Everything gets better if you have a plan. Some marketing companies in Nigeria rush into implementation without proper preparation so they get to assume things like, who the ideal audience should be, which media platforms to engage, what marketing content will appeal the most, etc.
Taking a moment to pause and develop a proper marketing strategy will help your client save resources and perform only activities that are sure to bring about success. A good marketing strategy will: identify the marketing objectives and how they relate to the overall objectives of the brand, clearly articulate the key messaging, identify the buyer and most effective ways to reach them.
Poor Tracking
Marketing companies that don’t pay attention to tracking are making a really big mistake. Tracking or monitoring your marketing campaign is a key way to know if your results are commensurate with the efforts put into the marketing activities. When tracking, you’ll need to pay more attention to the metrics that are in line with your marketing objectives. With technology and modern marketing tools like Plaqad.com, marketing pros can learn from what’s working or what is not, and keep optimising for better results.
Investing Little in Marketing
From experience, we’ve seen brands spend lots of money on developing great products but they plan to spend only a few thousand on marketing. This is not a sustainable approach. Marketing is a serious business and you should treat it as such if you want to reap great rewards. As much as brands want to work with marketing companies in Nigeria that know how to use a minimum budget to achieve maximum results, you should also enlighten your clients on the need to invest enough funds into their marketing campaigns.
Rather than see most of these as total blunders, marketing companies can see them as learning opportunities for improvement. However, it becomes an issue when these mistakes happen year in, year out.
