Marketing Consultant and Senior Lecturer at the University of Ghana Business School, Dr. Kobby Mensah has attributed that the changing landscape of marketing communications to the dominance of social media and the new media.
Speaking to Univers Business, Dr. Mensah said that social media has become the most dominant form of communication not only in the business space but in all spheres of life.
“Currently, as we speak social media has become the most dominant channel of comm. nt only i the business space but in all spheres of life so you realized that in all parts of our world social media has become dominant and people use it for all manner of things.”, he said.
Dr. Kobby Mensah added that, “the consumer is increasingly becoming skeptical of marketing communications. People no longer believe in advertising as they used to do because they feel companies say what they think they what the audience to hear so they look out for independent voices that could actually give them the advice.”
He further added that despite all this, it cannot be said that the traditional mode of advertising is completely facing off.
“Obviously we cannot say advertising will be dead or will face off because we still see adverts being run but we are saying that the level of persuassion is gradually reducing. In fact when people are watching TV and there is an ad they may switch stations and come back when the ad is done. That practice is impacting the efficacy of advertising that why brand influencing is becoming much more preferrable as a mode of marketing communication.”, he said.
Meanwhile, Digital Marketing Institute, a global marketing consultancy has indicated that about 71% of marketers are planning to increase their budgets for influencers in the next 12 months has also estimated that the industry is expected to hit about $13.8 billion in 2022.