By Elvis Eromosele
The MediaConsortium Conference & Awards 3.0 held in Lagos this week brought together leading voices in Nigeria’s Integrated Marketing Communications (IMC) industry under the thought-provoking theme: “Defining ‘Value’ in the Modern Marketplace: Beyond Price, Quality, Experience and Ethics.”
The gathering, which has become a crucial platform for knowledge sharing and industry reflection, delivered fresh insights into what truly constitutes “value” for consumers in today’s rapidly evolving business landscape. From keynote reflections to panel debates, one central message rang clear: brands that want to remain relevant must shift from chasing price wars to delivering genuine, sustainable value that resonates with customers.
Femi Opadere, Head of Digital Media at Globacom, set the tone with a keynote address that challenged brands to rethink how they define and deliver value. He began by taking the audience down memory lane to the early days of telephony in Nigeria.
“Before GSM, telephony was a big challenge. GSM made it commonplace, but it was rather expensive,” Opadere recalled. “SIM cards sold for over ₦30,000, and customers were billed per minute despite the huge number of dropped calls.”
He reminded the audience that Globacom disrupted this landscape by crashing the cost of SIM cards and introducing per-second billing, thereby democratizing access to mobile telephony. That singular move underscored his central message: brands must focus on the kind of value that directly improves customers’ lives.
Opadere emphasised that empathy is the foundation of value. “If a brand shows empathy, customers will be more than willing to forgive and accommodate it,” he said.
He outlined four critical dimensions of value that every brand must internalise:
1. Accessibility: He cited Lacasera, which revolutionised cold beverage distribution by selling directly in traffic, and Indomie, which became a staple by being available in every corner of Nigeria. “Consumers shouldn’t have to struggle to find you,” he stressed.
2. Quality and Functionality: Drawing from Apple’s reputation, he explained that great design, durability, and true functionality are the bedrock of enduring value.
3. Clear Communication: “As a brand, you may not always be everywhere your customers are, but your messaging must be clear. Customers should see it and understand it without needing explanation,” Opadere advised.
4. Shifting from Cost to Benefits: He urged brands to train their staff, especially frontline employees, to deliver value consistently. “Cheaper is not better. Brands must differentiate on always value, not price,” he added.
His message was unequivocal: Nigerian consumers are not difficult; they are simply more discerning and aware of their needs and rights. Brands must rise to meet this reality.
The panel session, moderated by Zion Rufus of Livespot360, extended the conversation, with panellists bringing fresh and diverse perspectives.
Samuel Akinrimisi, Head of New Products, Eko Supreme Resources, argued that value begins with need satisfaction. He cautioned brands against the common mistake of making assumptions about consumers. “The problem is that brands assume too much and end up developing products for non-existent consumers,” he said. He emphasised the importance of platforms that allow brands to engage directly with consumers, identify pain points, and build trust. For him, cultural relevance is a vital part of delivering value beyond price.
Ayodeji Ajayi, Strategy/Creative Director at Hephzibah Experiential Limited, made the case that there is always a return on investment (ROI) when brands provide genuine value. “There is always ROI in providing value. It is return on experience,” he said, noting that customers often reward brands with loyalty and advocacy when they feel valued.
Obinna Ojekwe, Marketing Lead at Hydrogen Pay, described value as “a cheat code to ROI.” He explained that brands in niche markets thrive by offering incredible value that sustains them. In today’s digital age, he noted, brands no longer have the luxury of dictating what constitutes value. “Brands can’t determine value on behalf of the consumers. Co-creation is the buzzword now,” he said, pointing to the growing trend of companies working hand-in-hand with consumers to co-create products and services that provide value to the consumers.
The conversations at MediaConsortium Conference & Awards 3.0 underscored that defining value in the modern marketplace is far more nuanced than competing on price or quality alone. Empathy, accessibility, clear communication, cultural relevance, and co-creation are all central to how consumers now perceive value.
For Nigerian brands, the challenge is clear: they must train their people, listen to their customers, and build platforms that facilitate constant dialogue. Value is no longer what the brand says it is; it is what the consumer experiences, remembers, and is willing to pay for again and again.
As the keynote and panel made evident, brands that embrace this broader, consumer-centred definition of value will not just survive but thrive in the modern marketplace.
Eromosele, a corporate communication professional and sustainability reporting advocate, wrote via elviseroms@gmail.com
