MIPAN holds 2021 business outlook, identifies challenges and growth opportunities
The Media Independent Practitioner Association of Nigeria (MIPAN) has held its 2021 business outlook with the theme: “Challenges & Growth Opportunities Amidst COVID-19”.
The event, which was held at the Radisson Blu Hotel, Ikeja, Lagos, had members of the MIPAN Exco, speakers, panelists, digital crew and the press in attendance with COVID-19 guidelines duly observed. Other participants joined the conversation via Zoom and Facebook using the link provided by the organisers.
The meeting reached a consensus that the advertising industry is having its share of the effect of COVID-19, as digital marketing is taking over media agencies, adding that major clients are either joining the trend of digital marketing or going out of business because of the effect of the pandemic on the global economy.
The MIPAN President, Mr. Femi Adelusi, while giving the opening remark, pointed out that 2020 was challenging for the association, other sectoral bodies in Nigeria and the world in general.
His words: “You will agree with me that 2020 was a very challenging year for us as MIPAN and of course to all the key sectors across various industries not only in Nigeria but internationally as well. But we must adapt and evolve, even as we continue to navigate the new normal, because the excuses of 2020 will no longer be tenable in 2021.”
“We certainly do understand the fears and concerns about our economy and even our nation, but in the words of T. Y. Howards, an Author & Executive Coach, ‘…we must give ourselves a fear-rec-tomy to increase the trajectory of our lives…and businesses’.
He continued: “Simply put, we must rise above the fears. Fears of economic downtown, fears of health challenges from Covid-19 and fears of insecurity from the heightened state of kidnapping and banditry across our land. We must develop a willingness to face our fears head on, realizing that we truly are our own worst enemy.”
On audience measurement, Adelusi revealed: “In response to ongoing digitization of media in Nigeria, media/consumer sophistication, and the need for proper monetization of content, we will soon be making an announcement of a new media audience measurement tool that will take us from the ‘Recall-based Survey’ to a more technologically-advanced passive media measurement, with same day/real time reporting of TV, Radio, VOD, OTT, DVR, Web, In-App media and in 10 seconds increment and not 15mins reporting. Details of this will be available on our website in Q1 & we will be engaging all industry stakeholders within the next couple of weeks.”
He opined that while moving forward, the world must continue to deliberate, develop and adapt in 2021 as that is the logical thing to do, adding that stakeholders must learn to come together as individuals, as sectors and also as a country to achieve more in the COVID-19 era.
Adelusi spoke about the three key elements of the MIPAN manifesto which includes Technology, Capacity Building and Collaboration among industry practitioners. He noted that digital marketing is a big challenge for the media industry as those who are not professionals but are good in digitalization are taking over the jobs of the media practitioners and media buyers.
“In the area of industry collaboration, is important for us to engage through various platforms, agencies, media partners and more importantly, to ensure our survival in these challenging times.”
He revealed that as part of its efforts to evolve and adapt to the global new normal, MIPAN is working on Audience Measurement Response on national digitalization that will help track numbers of audience that have access to the adverts on television, radio and even terrestrial.
Speaking on the theme of the event, Dr. Vincent Nwani, Head Research, FMDQ Group pointed out that the advertising industry could take advantage of the Africa Continental Free Trades Agreement (ACFTA) to plan ahead and seize the opportunity to expand its business in other African countries.
“Africa Continental Free Trade Agreement opens Nigerian economy and equally other African countries’ food chains. What this means is that food and services can move freely from one part of Africa to another. It gives room for media buyers or practitioners from other African countries to come to Nigeria and compete in the media space.”
He advised advertisers in Nigeria to take advantage of the ACFTA as quickly as possible.
Dr. Nwani also spoke on the relationship between COVID-19 and marketing communication, stating that there has been lots of trainings and seminars on the how businesses can channel the negative impact the pandemic has caused to their advantage by attending seminars, workshops or trainings that teach more on how to make use of technology and innovation to delivery excellent results to clients.
His words: “As business owners in Nigeria we should be able to position ourselves and take advantage of the opportunity that comes with training to deal with the down side of the COVID-19.”
Other speakers and moderators at this year’s MIPAN business outlook include Mr. Olu Akanmu, Executive Director- Retail Banking at FCMB; Mr. Raheem Olabode, Executive Director, Corporate Planning and Sustainability CMC Connect, Dr. Tayo Oyedeji, CEO, Overwood Investment Limited and Mr. Kelechukwu Nwosu, Creative Support, MTN.
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