Updated: Jun 11, 2020
Market Research and Digital Marketing are going disrupt corruption in Africa in a quantum leap and slow down first world monopolies. Artificial Intelligence and Research are the future of marketing and business equalizers.
Every year, businesses try to respond to the market latest changes in the consumers’ evolving buying patterns. This is true especially in bigger economies like South Africa and Nigeria. Other ambitious countries like Rwanda have developed big appetite to compete with bigger economies in their own terms especially in the areas of education and internet access. This cannot be said about Botswana in which markets are controlled by monopolies and government tender-entrepreneurship, killing competitiveness in an open market.
Now, that Convid-19 has changed the rules of the game, pushing for countries to be self-reliant and build the small and medium scale businesses to create jobs and buying power. It’s going to go down to the business community to stimulate their manufacturing ambitions and embrace technology to produce large quantities of goods. Technology is going to control the manufacturing, distribution and marketing of products going forward. Therefore, its inevitable to embrace digital marketing and marketing research technologies in Botswana and Africa. Technology is going to disrupt African cultures of presumptive marketing and acquisition of customers based on gut feeling and ‘’traditional medicine’’. The advanced countries like China and the USA have moved ahead with artificial Intelligence, now taking center stage in the quest for laser targeted marketing. They want to reduce their cost per customer acquisition by learning customer behaviour using data and machine learning applications.
However, Batswana are slowing embracing technology both in the distribution and marketing components of the product life ecosystem. Batswana seem to be enjoy buying on AliExpress and BeForwading, and tend to rely on their friends on Facebook to get recommendations on which products to buy, moreover, they use the search engines like Google to find the specific products they want to buy. During the lockdown period a lot of products were distributed using online buying especially in Gaborone the capital city of Botswana. It seems like most companies which do not want to embrace technology are going to learn a big lesson in the next five years as more and more of the technology driven customers slowly are gaining buying power-The Y and Z generation. These are consumers born between 1980-1999 and 2000 to date, respectively.
This changing buying patterns are slowly pushing for data driven marketing. Hence, Marketing research and Artificial Intelligence are going to be helpful to predict consumer behaviour and boost sales. As a business, you cannot afford to work in the dark, anymore. ‘The future is with market research more than anything else.
Digital marketing would not work without insight into the consumers’ behaviour, Advertising would be costly and aimless if you do not know who you want to relate your messages to. A business would like to have information on the number of people using mobile devices, how many can access the internet, how much time they spend on the internet and how much data are they able to afford to use the internet, before investing heavily on on-line advertising. Most companies in Africa, don’t work with analytics, therefore they can’t specifically calculate their Return On Investment on their marketing campaigns. Market Research can help you to identify marketing trends, employee engagement in advocating your business brand, you can know how many of the satisfied customers are loyal. You can also know how many customers are unsatisfied and the reasons why other consumers are buying from your competitor. You can learn the strategies of your competitors and capitalize on their weaknesses.
Businesses in Botswana and Africa, have to lead in setting trends in an environment that varies to Chinese or American consumers. They should be able to connect African consumers to the African market or else they will lose business to the ever-growing Asian markets. Market Research will help local businesses to make key decisions on setting realistic marketing goal, anticipating marketing trends, closely monitor competition and gain better understanding of customers preferences. These predictive, diagnostic, and descriptive researches can go a long in solving African problems of product optimization, price flexibility, profitability, and readiness of rapid market changes. Botswana has the potential to grow faster in areas of finance and technology than any African country given the stable political climate, resilience in their monetary policies and its limitation on a small population and access to the sea. However, South Africa and big companies like Liquid Telecom have big strides in rolling out 5g networks in anticipation of the growth in digital world, hence the potential growth in Digital Marketing based on data collection. .#MarketTrends #7indexBlog