Why advertisers will spend more on media – experts
By Abimbola Mohammed
Experts in the Nigerian media buying and planning sub-sector of the economy have called for a rethink on how agencies relate with their clients in order to gain trust and give value for their investments.
This call was made in separate interviews with MARKETING EDGE, Nigeria’s foremost marketing and advertising magazine. The experts highlighted on how agencies should relate with clients by making sure their points of view and vision are in tune.
Advising media agencies on how advertisers can be motivated to increase media advertising expenditures in year 2022, the gurus stated that innovation, value and providing solutions to problems are the next steps to take.
Speaking on the issue, Jude Odia, Managing Director of Starcom Media Perspectives shared his opinion, urging agencies to look in the same direction as advertisers by understanding what their problems are and providing solutions.
His words: “I think agencies should look at where the advertisers are looking, understand their pain point. As an agency we need to know what the advertisers KPI’s are and address it. We need to help them solve real problems and the only way to solve real problems is to first identify what the problem is, then you can grow higher capabilities that will solve the problems and solve them on a consistent basis.”
“Once we can do that and once there are pies in terms of market share, and the value share keeps increasing, they will be encouraged to do business with us. So, it’s about when we help them solve their problems – of course, they will see us as partners in progress and will want to work more and more with us.”
On his part, Eki Aduzeh, the Executive Secretary, Media Independent Practitioners Association of Nigeria (MIPAN), opined that if agencies can give value for investments and also do something unique from what other agencies are doing, then investment will increase.
Hear him: “The greatest motivation will be to show value for their money. If the advertisers are giving you money, you show that the money is well invested and then of course do something outside of the normal thing. If they see increase in value, they will definitely increase their revenue.”
However, Austin Efienamokwu, CEO Ubiquity Media Holding, is of the view that getting accurate data, content, creativity and innovation is the way to go.
“The biggest challenge in the industry is lack of innovation and data for us to grow. We need to have reliable data that we can work with, we need to be innovative, we need to look for things that are not already available that will keep content growing.
“Nigeria is the biggest market in Africa in terms of GDP, in terms of population and in terms of content. If these already exist then there is potential for us to improve on creativity and also on innovation. If we can get this right we will be on the part of greatness. Clients are looking for value and value doesn’t necessary mean money – maybe in terms of creativity and innovation you are bringing to them that will lead to transformational business value. That is where we should be looking at – think audience first and think digital first – you will get there.”
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