Taking the time and putting resources to nurture and grow strong brands brings in the numbers eventually . Focus on short term financial results will not do . Brands are built over time . The numbers will eventually come and they will do so for a long , long time .
Businesses will only appreciate the critical role of marketing if the marketer demonstrates that what they bring to the table , a deep understanding of the customer , is critical to meeting the goals of the business . Brands that move customers must be formulated with this understanding and that is what marketing brings to the party as it were . It ’ s the work of marketers therefore be courageous and raise their voices and explain this clearly to demonstrate their worth all the time . Nothing comes on a silver platter .
Marketing is not about events such as sponsoring Golf or Marathons or ensuring T-Shirts and other paraphernalia for the same are available as the uninitiated may assume . Sponsorships are just one of the many tactical opportunities achieve the marketing strategy which is derived from the corporate strategy . Marketers must have the courage and skills to get the business to understand this . To this end I must admit that the Banking sector , though still has a long way to go compared to the FMCG sector , is waking up to this fact that marketing is an integral part of the business otherwise they are at risk of losing relevance and consequently their competitiveness .
Let us now turn to Covid-19 as we are still reeling from its effects three years on . How did you navigate this treacherous terrain that will provide useful lessons ?
One of the belief I have as a marketer which I was clear about as we were meeting to discuss the way forward is that in a crisis one must not cut the marketing budget drastically . Marketing is still very relevant and more so in a crisis . For example , communication is very critical in a crisis though the message and probably the medium should change to reflect the new circumstances . One may have to rationalize and reduce to a small extent but a drastic cut can boomerang negatively against the business .
Covid-19 reduced contact with customers and some of the events we had planned had to be cancelled but on the other side of the coin the pandemic provided the Bank a big opportunity to demonstrate that we cared . For example one of the initiatives we took was to focus on our customers who were
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Taking the time and putting resources to nurture and grow strong brands brings in the numbers eventually . Focus on short term financial results will not do . Brands are built over time . The numbers will eventually come and they will do so for a long , long time .
working in high-risk sectors especially the medical field and needed our support . We tailored a product that offered them , among other features , insurance against death . For some of our customers such as schools and hotels we offered them cheaper financing to allow them to weather the storm . Therefore , we squarely put on our CSR hat as we designed products that were relevant at that time . We have seen this pay back as we grew by about 20 % and our projections for this year are higher . Customers were awake to the fact that we cared and were there for them when they needed us . This really endeared them to the Bank and our relationship was really deepened cementing loyalty .
Therefore , though we trimmed our budgets by around 30 %, as we could not do all the activities we had planned , we pivoted with new products . My advice to marketers is that in a crisis , dim the lights as necessary , but don ’ t completely switch them off . There are always opportunities to connect with the customers provided by the crisis or indeed any situation . Marketing must be bold and rise to the occasions during crisis and show what they can do . This goes a long way in earning respectability and getting a seat and voice at the table . From Covid-19 the lesson is simple : hold your customers hand when they are faced with a difficult situation and they will never forget .
As we conclude this conversation what are your partying shots ?
I will end by giving some advice to marketers who may be new in the field or even those that are trying to make an impact in this profession . But before that let me say that what attracted and has kept me in marketing is that no day is the same . Things keep changing and I am also responding to different stimuli , solving different problems . This nature of marketing is intriguing to me and makes my blood flow .
Now to my advice which I have summarized to three , (‘ mambo ni matatu ’) points : Firstly make sure that you are bold and try to do things differently . Don ’ t follow the status quo even in an industry like Banking that is conservative . Be alive to the fact that you are the voice of the consumer at the strategic table , be brave . There is no business without the consumer and the marketer is the vital link .
Secondly keep your eyes and ears to the ground . Move around , mingle don ’ t be stuck to your seat in the office . The consumer is changing fast as they respond to different stimuli . Understand what they are going through , their pain points , and what brings them joy . Use these insights to panel beat your products or even launch new ones as the need may be . Relevance is the lifeblood of marketing . Be current and keep your brands fresh or you lose out . Adding onto to this ; think consumer not industry . Irrespective of the industry the game is the same . Success comes when your brands become leading in the whole market not just in your industry or category . To a large extent together with the teams I have led or worked with I have achieved this in both places I have worked . Creating and building strong respected brands in Uganda and the region . You too can achieve the same .
Thirdly integrity is everything . Marketers control sizeable budgets . Don ’ t be tempted . Keep your nose clean and in the long run it will pay off .
Lastly , more than ever before marketing is critical . You are in the right space but you must keep proving that your role is vital strategically to the organization . Play your role with confidence and make a difference wherever you are .
This story was pieced together by the Marketing Africa editorial crew led by Robert Wamai . For feedback or any more discourse please drop us a line at : Info @ marketingafrica . co . ke .