ADMARP President urges martech companies in Nigeria to explore more digital marketing options
By Zion Rufus
President, Association of digital marketing professionals (ADMARP) Nigeria, Oti Ukubeyinje has encouraged companies that sit on large amounts of consumer data to become more open to the idea of activating them in the most transparent and compliant ways to improve their customers’ experience and values received.
The ADMARP President pointed this out in an interview with MARKETING EDGE as he described the importance and offerings of Programmatic Advertising. Global advertising spend for Programmatic is expected to accelerate to nearly $100 billion in 2022 according to statistics released by ROI Revolution.
“Advertisers in Nigeria are yet to fully leverage programmatic marketing and advertising and this is simply because of lack of data,” said Oti, who is also the VP, Product Marketing and Growth at Terragon.
“In Nigeria today, we lack a lot of data to help inform effective programmatic advertising. So we purely rely on advertising platforms like Facebook and Google to do that for us. I would say Nigeria is only utilizing about 20-30% of programmatic possibilities. Most programmatic platforms in Nigeria are starved of the data to help the platform do its job,” Oti opined.
Today, marketers are exploring more technological options and putting more than 50% of their media budget into programmatic advertising to understand consumers, react and respond to them in real time, support their multi-platform data-driven marketing strategy, reach customers along their entire path to purchase, and to drive more valuable conversions.
Programmatic advertising entails the purchase of advertising space informed by data signals from multiple sources, either via real time bidding exchanges (programmatic RTB), or direct bookings. In July, digital OOH advertising spend for Programmatic was expected to hit $350 million in 2021 up from $90 million in 2019 according to ROI Revolution.
He explained further: “In advanced markets, Telcos, financial service providers, retail companies, etc. play a big role in providing the insights and data that help to power programmatic campaigns. There are also other third party data platforms that gather, clean and resell data with high levels of privacy and security compliance. The only company that I know that is gathering such data to power programmatic campaigns in Nigeria is Terragon. Their relationship and integration with the Telcos and other industry partners makes it possible to aggregate and enrich the profiles of over 100m digitally enabled Nigerians, enabling some level of programmatic marketing across online and offline channels for marketers in Nigeria and across Africa.”
Programmatic advertising offers a myriad of advertising strategies which includes retargeting, cross-device display units and video ads, digital out-of-home advertising, and streaming audio options. The ultimate goal of programmatic advertising is to increase awareness in a personalised way, at scale.
As the technique explores new heights, advertisers are also retargeting on a wider network of platforms as it continues to deliver strong results. Marketers rely on retargeting to strengthen upper-funnel awareness campaigns, build customer engagement, loyalty and retention, and to pave the way for a deeper understanding of customer intent and behavior amongst others.
Digital OOH ad spend for Programmatic is expected to reach $350 million in 2021 after being at just $90 million in 2019. Programmatic also offers brands and companies across the ecommerce, manufacturing, and healthcare sector highly customizable advertising opportunities. Companies like Google, Kellogg’s, and digital and print publication—The Economist have explored the offerings of Programmatic.
The Economist used programmatic advertising with success by referencing subscriber, cookie, and content data. Its campaign generated 650,000 new prospects, plus a return on investment (ROI) of 10:1. Through major digital audio streaming platforms like Pandora, Spotify, and more, a business can purchase 15-30 second audio spots, run banner ads, and capitalize on other advertising options to serve personalized ads to listeners.
“I would continue to encourage companies that sit on large amounts of consumer data to become more open to the idea of activating this data in the most transparent and compliant ways that’ll improve their customers’ experience and value received, without being a burden or privacy intruder,” Oti concluded.
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