Abunene tasks professionals on strategy for global competitiveness
By Felicia Nwosu
Omo Kingsley Abunene, the Vice President of the Out-of-Home Advertising Association of Nigeria (OAAN) and Managing Director of Beam Media Ltd, has noted that the emergence of various technological disruptions in an increasingly fast-changing business world has ushered in a new paradigm shift across global businesses.
He challenged and tasked professionals in the out-of-home advertising landscape to rethink their competitive strategy by embracing and leveraging the various emerging technological tools for global competitiveness.
The accomplished out-of-home advertising expert explained that, as part of the plan to stay in tune with new global economic realities, that his association had to rebrand from Outdoor to Out-of-Home Advertising Association of Nigeria, OAAN.
Delivering his presentation titled: “Scaling Up for Global Competitiveness” at the recently concluded 3rd edition of the National Advertising Conference, 2023, organized by the Advertising Regulatory Council of Nigeria (ARCON) in Abuja, Abunene asked rhetorically, how prepared is the Nigerian Out of home market to engage, compete and deliver at global level.
He tasked the admen to come up to speed by utilising and infusing technology as a new business model in their roles and portfolios.
The business leader urged them to repackage by adopting advanced technologies such as digital signage, programmatic advertising and data analytics, assuring them that all can enhance the efficiency and effectiveness of OOH campaign, as well as allow for more targeted and personalized advertising, increasing competitiveness in the global market.
Taking a look at OOH and the Nigerian business environment, the OAAN Vice President affirmed that as long as the out-of-home advertising exists in the same challenged and unfriendly business ecosystem with other sectors, that it is not immune to economic challenges.
“With other sectors, we cannot help but notice that most of the foreign OOH companies that rushed to Nigeria enthusiastically were met with the harsh reality on ground, and have either left the country, or scaled down significantly.
The Managing Director of Beam Media Ltd named countless factors that are restricting the expansion of the out-of-home. These include cost of doing business in Nigeria, infrastructure, insecurity, especially from the popular Area Boys who attack billboard structures, unfriendly government’s policies, bureaucratic bottlenecks, entrance / exit barriers, trade laws by international bodies such as The African Continental Free Trade Area and World Trade Organisation (AfCTA, WTO) among many others.
He suggested that to mitigate against the numerous hiccups hampering out-of-home advertising growth, all hands must be on deck and transformative approaches must be adopted as a catalytic change, achieved through factors such as data measurement, government intervention, technology and collaborations.
To bring in a new shift into the space, he emphasized the expediency for an accepted OOH audience measurement metrics that will justify patronage by brands while also encouraging them to invest in research and development.
“Provide measurement and accountability with reliable and consistent data, brands can plan from any part of the world and deploy in the Nigerian market, and that will significantly contribute to global competitiveness. Allocating resources to research and development initiatives will drive innovation and keep up with emerging trends in the OOH industry. This will enable the development of new formats, technologies, and strategies, ensuring competitiveness in the global market,” Abunene said.
For clients to optimise their marketing budget, he noted that stakeholders must be mindful of their actions as its impact will either make or mar the entire industry with its ripple effect. He called for a more synergized sector and enjoined both local and international players to collaborate to boost growth.
“Partnering with local advertising agencies, media owners, and technology providers in different countries can help gain insights into local markets and cultural nuances. This collaboration will enable the development of more relevant and impactful OOH campaigns, giving a competitive edge in each market. We need industry collaborations to collectively approach industry issues. By implementing these strategies, the OOH industry can scale up its global competitiveness, attract more advertisers, and drive growth in the market.”
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