Expert in the business of media buying and planning has advised members of Outdoor Advertising Association of Nigeria, OAAN to embrace digital advertising as a new way to grow and remain relevant in business.
The Chief Executive Officer of Media Perspectives, Jude Odia, gave this advise at the just concluded 34th annual conference of OAAN held in Abeokuta, with the theme: ‘’Future of OOH in Nigeria: Debt, Ethics and Best Practices’’, said the media landscape and the game has changed.
He said that, ‘’In the last ten years, the Nigerian advertising industry has witnessed disruptions with digital advertising continually occupying bigger space. Global predictions indicate that digital advertising is on the increase and in Nigeria, it has 8 percent share of total Ad spend from about 5 percent three years ago.
‘’In recent time, the media landscape and the game has changed as advertisers that used to see, for instance, mobile advertising as a complementary consideration are now considering it first in their budget because of impact, emotive connection and reach.’’
He added that, ‘’If spend is increasing on digital, which is happening now, it is not because clients are bringing additional money from their pocket, they are rather taking money from other media platforms.’’
Odia reminded the outdoor practitioners that with changing landscape ‘’the way we play it about 20 years ago, cannot be same today’’.
He mentioned some of the challenges facing the outdoor industry, such as media debt, vacant billboards and over-regulation, he said it is not that outdoor is shrinking but practitioners in Nigeria need to evolve.
‘’Globally outdoor is growing but the industry in Nigeria needs innovation to grow. In Nigeria the problem is that outdoor has not fused itself into the new eco-system; therefore it is losing relevance, connectivity and value. Let’s get back into the eco-system and be relevant and command, and be active on the table’’.
‘’With digital transformation changing the game and business, he said outdoor and by extension other traditional media platforms can only become relevant through innovation informed by research, partnership, data, M&As, strong association to constructively engage with regulators and increase the barrier into entering the outdoor industry’’, he noted.
He urged outdoor practitioners to ride on digital trend or face extinction, ‘’It is important we recognise these trends because they shape our business’’, as digital can be integrated into billboards and these boards can do much more to add value, he added.
In his contribution, the immediate past president of OAAN, Babatunde Adedoyin said his administration’s achievements include downward review by 30 percent of advert fee on static and 35 percent on LED boards in Lagos, 20 percent payment on vacant rtailing frictions with Lagos State and other regulators.
The AGM later produced Emmanuel Ajufo, Managing Director of Opportunity To See as the new President of the association, former General Secretary and Managing Director of Twenty First Century, Femi Ogala elected Vice President while Sola Akinsiku, Managing Director of KOK Visibility Edge emerged the General Secretary.
Others are: Churchill Nwagwu, Assistant General Secretary, Bidwell Okere, Treasurer, Babatunde Oyekan, Publicity Secretary and Babatunde Adedoyin is IPP/Ex-Officio. Babs Fagade, Deola Odesanya, Dupe Adewuyi, Felix Ehikhuemen and Omo Abunene also emerged as Ex-Officio members.