Nigeria’s first ad tech marketplace births, Adspace
BY Zion Rufus
First eCommerce platform for Nigeria’s advertising and marketing ecosystem, Adspace has launched in Nigeria. The online platform helps advertisers run timely and efficient campaigns by providing a market place where they can find, negotiate, and book advert spaces.
Adspace.ng is a marketplace for brands and media owners to buy and sell advert spaces across several media types including outdoor advert spaces, television advert spaces, radio advert spaces, newspaper advert spaces and influencers.
Commenting on the launch during a media tour of the company’s facilities, Chief Executive Officer and Co Founder, Adspace.ng, Kunle Yakubu disclosed that Adspace was launched to address key issues in the industry such as the tedious, lengthy, and expensive processes advertisers have to go through to find the right advert spaces for their campaigns; the exorbitant prices traditional media buyers charge while pumping the price of advert spaces; and to bridge the gap in order to permit direct negotiation with the real media owners.
“Adspace.ng started out from our experience in outdoor advertising,” Yakubu said. “We realised that a lot of advertisers don’t have access to the data they need to run campaigns; especially when they are trying to run nationwide campaigns, they don’t have access to the data they need. We found that most times when people want to run campaigns in other states for instance, they encounter middle men that add their own costs to the campaign thereby raising the advertising budget or you might be required to even travel to those states yourself, and we all know that it might sometimes be tedious to navigate through the advertising industry.”
With Adspace, advertisers can save 10-20% on their advertising budget by negotiating with over 5000 media owners; get increased campaign efficiency through the company’s advanced data which helps advertisers reach specific target audience for each new campaign; and get access to all advert spaces including outdoor, influencer, radio, television, newspaper, and more on a single market place.
“What we have done is to streamline the process from the moment you are planning your campaign to the point you are trying to negotiate and even monitoring the campaign to ensure it is deployed as agreed. We are also trying to help media owners reach a wider market by bridging the gap between media owners and advertisers by basically trying to increase the market cap of advertising in Nigeria, and exposing the Nigerian advertising market to foreign companies that are trying to expand into the Nigerian market,” Yakubu added.
Advertisers can also search and filter through advert spaces on Adspace such as the medium, duration, preferred location, target audience, time, target market and then propose a convenient offer to the media owner. On the Adspace dashboard, advertisers can view their accepted, pending, and declined offers from different media owners and media types all on a single page.
He explained further: “Most times they don’t want to be in their company and contact a media buyer or the middle man to run their campaign for them because like we all know, there is a trust level that makes their perception of Nigeria not entirely favourable, but with Adspace they would be able to book these campaigns right from their dashboard, from the point of looking for a space to monitoring the advert and making sure they are deployed as agreed.”
The Adspace app which is available on the Google playstore for Android users and the Apple App store for iOs users allows advertisers to upload campaign content on their dashboard. The media owner then deploys and attaches proof of deployment directly to the advertiser via the Adspace mobile app. Payments can also be made before or after the advert has been deployed.
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