In 2020 alone, more than $150 Billion was spent globally for online advertising without generating results. To put it into perspective, the entire budget of Nigeria for the same year was $35 Billion. Which means up to 4 years’ worth of Nigeria’s budget is being wasted on ineffective advertising on the internet.
It’s also estimated that if that trend continues, the amount will top $240 Billion by 2024, a very alarming figure to be spent on nothing.
Stanbuzz is a platform looking to help reduce this advertising spend waste on the internet through multiple approaches.
“The epiphany we had was that more money was being wasted on ineffective advertising than the entire budget of Nigeria for 2021.” Said Stanbuzz CEO, Bolu Oluwagbesan.
“The data for advert waste is just alarming. If nothing changes, the money that will be wasted on adverts without getting results will surpass $200 Billion in 5 years. That’s about 40% of all ad spend is wasted completely.”
“The idea about Stanbuzz is to try and cut down that waste by helping brands and bussinesses get better value for their money spent. We have many different approaches to solving this problem and it’s all well explained on our website (stanbuzz.com.)”
Both founders of Stanbuzz have worked together before on their previous startup named Storemia, which has been recently acquired. Speaking about their new venture, Anu Oguntoye, the C.T.O thinks their experience from Storemia puts the founders in a position to understand this problem.
“We have been in close contact with businesses and brands for long enough and their biggest challenge has always been making sales and getting back the money they spend on advertising”
“When we worked on Storemia, we saw that most of our customers always complained about sales being their biggest challenge and we thought, why don’t we solve this problem for these people?”
The platform currently offers:
- Top notch online courses that can teach business owners practical ways to be more effective with their adverts.
- Personalized consultation services for people who need clarity about their
- marketing strategies.
- The option for businesses to hire experts to completely relieve them from marketing duties.
The blog on Stanbuzz website also offers free learning materials that address a wide range of topics that include affiliate marketing, SEO optimization, web design tips, amongst many others.
Founded by Anu Oguntoye and Bolu Oluwagbesan, Stanbuzz is dedicated to solving the problem of advert spend inefficiency by providing businesses with courses, consultations and experts to guide them on the right marketing strategies to take.
People at Stanbuzz have helped over 15,000 brands spend their ad budgets effectively.