Leading experts in marketing and technology have come together to emphasize the enduring impact of Artificial Intelligence (AI) on every sector, including the dynamic Out-of-Home (OOH) advertising landscape. During the inaugural Location Marketing Awards (LOMA) held in Lagos, these experts urged marketers, especially those in the OOH sector, to harness AI’s potential.
The AI revolution unveiled
The event’s theme, “Pioneering the OOH Revolution: Exploring Artificial Intelligence and Innovative Technology,” delved deep into the world of AI, shedding light on its rapid ascent and profound influence across diverse industries. Discussions concerned AI’s significance and instrumental role in elevating professionals within the advertising ecosystem.
These discussions made it abundantly clear that the advertising industry is evolving in sync with AI’s transformative impact on society. AI is no longer a distant concept; it is a current reality. The experts underlined the urgent need for marketing professionals to embrace and leverage AI technologies to remain competitive in this ever-changing landscape.
Insights from distinguished panelists
The panelists at the event included notable figures in the world of AI and advertising:
Nkasiobi Chukwu – Wakati Media: An AI trailblazer and producer of the First African AI-Powered Music Album.
Orakwe John-Al: Programs/Digital Transformation Lead Facilitator, Applied AI for Business Leaders.
Miguel Castanon: Business Development Director, EMEA, BroadSign.
Rilwan Ajiferuke: General Manager, Plural Media & Technologies Ltd.
A gathering of industry leaders
The event attracted industry leaders and key stakeholders, with notable figures such as:
Dr. Olalekan Fadolapo: Director-General of the Advertising Regulatory Council of Nigeria (ARCON), represented by Winifred Akpan, Senior Corporate Affairs Executive of ARCON.
Dr. Idorenyen Enang: President of the National Institute of Marketing of Nigeria (NIMN).
Mr. Emmanuel Ajufo: President of the Out-of-Home Advertising Association of Nigeria (OAAN).
Mr. Femi Adelusi: President of the Media Independent Practitioners Association of Nigeria (MIPAN).
Delegates from four continents also added an international perspective to the discussions.
A remarkable journey in advertising
Kingsley Onwukaeme, the convener of LOMA, opened the event by reflecting on the remarkable evolution of the advertising industry. He noted transitioning from traditional posters to billboards, transit formats, iconic wraps, and bespoke structures. The industry has witnessed the digital boom and is embracing location and audience marketing in a remarkably short period.
Mr. Onwukaeme acknowledged the significant challenges faced by the industry, including harsh economic conditions, low client patronage, unfavorable credit terms, multiple taxation, insecurity, scarce human resources, and market proliferation. However, he commended industry professionals’ resilience and innovative spirit, emphasizing that they have weathered the storm while proudly nurturing an industry they can call their own.
Seizing the opportunities of AI in marketing
The experts at the event stressed that AI is not just a buzzword; it is a transformative force that cannot be ignored. In the marketing world, AI can bring about significant changes, from improving targeting and personalization to automating tasks and analyzing vast amounts of data.
Marketers, especially those in the OOH sector, were urged to adapt and embrace AI to stay competitive. By harnessing AI’s power, marketers can create more effective and personalized campaigns, optimize ad placements, and gain deeper insights into consumer behavior.
AI’s impact on advertising
The discussions at LOMA highlighted how AI is already making its mark in the advertising industry. AI-powered algorithms can analyze consumer data to identify trends, preferences, and behaviors, allowing marketers to tailor their messages precisely. This enhances the effectiveness of advertising campaigns and improves the overall customer experience.
Furthermore, AI can automate buying and placing ads, making it more efficient and cost-effective. This automation frees marketers to focus on strategy and creativity rather than mundane tasks.
The path forward
As the advertising landscape continues to evolve, marketers have a choice to make. They can either resist the changes AI brings or embrace this technology to their advantage. The experts at LOMA clarified that the latter option is not just advisable but necessary for survival in the industry.
The inaugural Location Marketing Awards served as a platform for industry leaders to emphasize the transformative power of AI in marketing, particularly in the OOH sector. The event highlighted the need for marketers to adapt, innovate, and harness AI technologies to stay competitive in a rapidly changing landscape. As AI continues to shape the advertising industry, those who embrace it will likely reap the rewards of more effective and efficient campaigns, ultimately connecting brands with their target audiences with greater precision and impact.
