SPECIAL REPORT: Experts Task Businesses To Embrace Data-Driven Strategy For Growth

Players in the Nigerian Marketing Research Association, NIMRA has emphasized the need for  business owners to embrace data gathering and analytics in improving marketing strategies and driving business success.

This was disclosed on Friday at the election of new executive members who will be saddled with the responsibility of driving the affairs of the association for the next two years.

The research experts who spoke exclusively to RovingNaija News on the sideline of the electioneering activities conducted at the Airport Hotel, Lagos revealed that by analyzing customer data, companies can better understand their target audience, predict consumer behaviour, and tailor their marketing efforts to specific customer segments.

According to Mr. Seun Ajayi, MD/CEO, Sterling Business Research and Consulting Limited, data is a pathfinder that helps people, and throws light on their paths as they try to navigate the turbulent terrain of the marketing space . For people not to grope in the dark, Ajayi cited the need for credible research and credible research can only be powered by credible data. 

“Without what we are doing now to put in place a body that will regulate and moderate activities, you cannot be sure of getting credible data all the time. One of the objectives of this association is to put a structure in place that will update constantly the industry’s players on the global trends. 

“Fo every innovation that is coming out, we make sure our people are kept abreast of the global trend. If a study is conducted in London and similar study is conducted in Nigeria, we want a situation where you don’t need to fly-in experts. We will have our people here, trained and solid on ground to be able to deliver credible research and that is what we are here for.” He explained.

For Mr. Lanre Fasakin, Chairman, Communications and Marketing Research Group, CMRG, data gives direction and edge. For anyone that is planning and want to come out with winning strategy, it has to be driven by data.

“Data is that element that will give you precision in allocation of resources. It gives precision in having product that will be tailor-made for target group. In other words, you are not going to be shooting blanks but shoot precisely on the target. There is no better way of doing that than to have data. Data will speak to current and potential users of a product.” Said the former NIMRA president.

On her part, Mrs. Ranti Olatunji-Ojelabi, Director, Project Management, MRC Group, anyone who lacks information will take a wrong decision. 

“As a marketer, you cannot avoid leveraging the importance of data because if you have figure to play with, you have information to play with. You can take decisions based on fact and figure. But if you don’t have that, you will likely be assuming which in most cases, is unfavourable.”

In the same vein, Mrs Kemi Osoba, Lead Consultant and Managing Partner at Camille Market Insight stated that data allows companies to make more informed decisions and allocate resources more effectively, ultimately leading to higher ROI and increased customer engagement. 

Explaining further, the data analyst noted that data-driven marketing enables companies to track and measure the effectiveness of their marketing campaigns, allowing them to refine their strategies and optimize their marketing efforts for greater success.

Also sharing his views on the subject matter, Mr Oluwaseyi Adeoye, CEO, Pierrine Consulting posited that any good marketer worth his onion will agree that marketing, advertising and national growth and planning start from data, noting that market research and data industry is very pivotal to national growth initiative and conversation.