From Buzzword to Game-Changer: How AI is Redefining Marketing’s Purpose By Nedbank Namibia Executive Head of Marketing and Communications, Gernot de Klerk

19 November 2024 The hum of Artificial Intelligence (AI) servers is increasingly perceptible alongside the familiar drumbeat and rhythms of marketing departments across the globe. 

Once merely a buzzword, AI has transformed into a vital tool that is redefining the very essence of marketing. Embracing it has long been resisted for understandable reasons, particularly in favour of that holy grail of the marketing function: a uniquely different message to all your competitors in a fiercely contested marketplace.

With tools like machine learning, predictive analytics, and virtual chatbots, the way businesses engage with consumers is evolving in ways that were once unimaginable.

Marketers are now better equipped than ever to understand their target audiences, anticipate their needs, and craft experiences that resonate on a deeper, more personal level.

It’s no wonder they’re eager to tap into this potential.

Globally, over one-third of marketing organisations have fully adopted AI, with a further 43% currently experimenting with it. While Africa lags behind other regions in the adoption of AI, the continent is rapidly catching up. Google reports a 270% rise in AI-related searches in Africa over the past year, and research from the 2024 Stanford AI Index shows that nearly a third of east Africans’ use the AI platform - ChatGPT, daily.

As AI continues to evolve, it’s not just reshaping marketing strategies but also transforming how businesses research and connect with customers. Tools like machine learning and predictive analytics help marketers analyse data, spot trends early, and anticipate customer needs before they arise. And the results speak for themselves.

According to a global survey by Forbes magazine, 86% of companies using predictive analytics in their marketing have seen significant improvements in business outcomes.

AI is also transforming customer service and lead generation, with enhanced chatbots stepping in to manage everyday enquiries and offer personalised, real time support. This not only streamlines processes but also frees up human agents to tackle more complex issues.

Globally, chatbots now account for 39% of all interactions between businesses and consumers. In neighbouring South Africa, chatbots are the most widely adopted AI tool, with 14% of companies using them.

As Musa Kalenga, CEO of Johannesburg-based advertising agency the Brave Group, aptly put it during his presentation at the 2024 Nedbank Integrated Marketing Conference (IMC): “People resist change. But with AI, change is inevitable."

During his presentation, he stressed that while AI brings about significant shifts, it also presents valuable opportunities to build stronger brands and more resilient societies.

At Nedbank Namibia, we’ve tapped into the power of AI in several ways, including using it to drive the creative process behind our 2024 Africa Day Campaign. AI played a key role in shaping both the design and messaging, allowing us to quickly adapt and craft content that resonated with audiences across different regions.

But even as the number of AI tools continues to grow, the role of the marketing professional has never been more crucial.

A recent global survey shows that nearly 60% of marketers worry AI might threaten their jobs-a sharp rise from just 35% the year before. But I believe this distress is unfounded.

While technology will surely shape the way we engage with consumers in the future, it is the human touch-driven by creativity, empathy, and inclusivity-that will remain key to building authentic connections.

Khensani Nobanda, Nedbank's Group Managing Executive for Marketing and Corporate Affairs, pointed out at a recent marketing summit that: "The future of marketing hinges on authenticity. Today’s consumers are increasingly savvy they can detect insincerity, and brands that fail to deliver on their promises in a meaningful, genuine way simply won’t survive."

At Nedbank, we’re committed to connecting authentically with people from all walks of life, across different races, genders, and communities. Through initiatives like the SME Talk video series, the Nedbank Kapana Cook-Off Competition, and the heartfelt sitcom, Mokalefa, we strive to engage with diverse audiences in ways that truly resonate with their values and experiences.

Inclusive marketing involves creating content that engages audiences on the platforms they use and in the formats they prefer. One key trend marketers can't afford to ignore is the rise of short-form content.

Studies show that 73% of social media consumers prefer using short-form videos when exploring products or services, and an impressive 60% watch between 41% and 80% of a video’s total length.

The shift toward bite-sized, easily digestible content is a reflection of our fast paced online world and shrinking attention spans. As social media platforms fine-tune their algorithms, they’re pushing users toward short-form videos, making them the go-to format for engaging content.

At the Nedbank IMC 2024 conference, Marko Stavrou, CEO of Stavrou Consulting, made a compelling case for short-form video content, boldly stating that campaigns should be "80% video, with clips just 8 seconds long."

These quick, punchy videos allow brands to tell powerful stories, showcase products, and highlight core values all in a format that’s easy to consume, share, and engage with. As technology and social media trends reshape the marketing landscape, the need for marketers to evolve is more urgent than ever.

At Nedbank, we're committed to staying ahead of the curve while staying true to our core purpose of being money experts who do good.

That’s why we host the annual Nedbank IMC Conference, a gathering that brings together the brightest minds and nurtures professional development within Namibia’s evolving marketing sector. Listening to global marketing geniuses like Faith Popcorn, Steve Babaeko and Matthew Bull reinvigorated the sense that the future is closer than it appears with marketing in all likelihood the most impacted function. The secret to driving business growth, however, has not changed: it remains authenticity. Inclusive marketing can never be about tokenism and paying lip service.

Since its inception, the annual conference has been all about celebrating marketing's crucial role in business success.

Over the years, we've been fortunate to host game-changers like Scott Thwaites, Faith Popcorn, and Gillian Rightford, each offering invaluable insights on topics ranging from the power of storytelling to the evolving role of data in shaping marketing strategies.

This focus on professional development is more important than ever as we look toward the future of marketing where the true shift lies not just in the tools we use, but in the purpose that drives them.

Technology may connect us more seamlessly with consumers, but it’s the deeper mission behind our brands that will elevate the customer experience and ignite long-term loyalty.

In the race to adopt the latest tools, marketers must never lose sight of what truly matters: the people.