Taking into consideration the rate at which advertising is blooming and gaining more importance in the Nigerian economy, it is expected that positive change and rebranding, which are technologically compliant, should occur in order to give room for growth and greater results.
Hence, the reason behind the establishment of Adspace.ng. This newly launched initiative portrays the improvement that a technologically inclined society should seek.
According to the co-founder and Chief Executive Officer (CEO) of Adspace.ng, Kunle Yakubu, the initiative behind the establishment of the company is to rebrand the face of advertising in Nigeria by making it a smooth and easy process.
While speaking about the need for advertising technology in the marketplace, the CEO explained that change is constant and with the implementation of technology in several industries, it was only a matter of time before some sort of change occurred in the advertising industry.
He shed light on the challenges faced by advertisers in relation to the idea behind the creation of Adspace.ng
“Most SMEs and advertisers have been finding it difficult to run campaigns because they don’t have access to the data they require to make informed decisions on how to reach their target market or the estimated cost of running a campaign.
“There is also the problem of finding the contact of the media owners and how to negotiate price directly with them. All these brought about the need to develop an online marketplace where advertisers can find, negotiate and book advert spaces thereby reducing the time and cost of deploying an advert, anywhere,” he explained.
He stressed that the goal of the company is to bring advertisers and media owners closer.
Yakubu affirmed that the platform is aimed at increasing the advertising market cap of Nigeria by giving access to foreign companies interested in expanding into the Nigerian market; giving SMEs and Startups a relevant tool that will help them grow and make advertising a smooth and easy process.
He opined that running an advert whether on radio, television, billboard or through online influencers can be very tedious as it involves a lot of processes, from finding the right advert space within a predefined budget to the negotiation process and even monitoring the advert to make sure it is deployed as agreed.
Speaking about the newly launched application, Yakubu disclosed that the media owner and partners can download the application which is available on google play store and apple/ios app store, register and list their available advert spaces with prices, which in turn gives customers access to over 5000 advert spaces.
He explained that the platform covers all types of media types including billboard, television, radio, newspaper, cinemas, magazines and influencers.
“The media owners will be able to set the availability of their advert spaces directly from the mobile app. This means even if the advert space is sold outside the adspace.ng platform, they will still be able to inform advertisers through the platform that the advert space is not available.
“This helps reduce situations where advertisers call to make enquires on locations that are not available for the period, they want to run their ads thereby saving time,” he stated.
Yakubu said that the audience that subscribes to Adspace.ng will save a lot of time, energy and cost.
“Advertisers that run their campaigns using adspace.ng will save 20% on average on their advert cost. Individuals that register as agents will be able to make residual income by helping advertisers use the platform to run their campaigns.”
He added that advertisers will soon realize that adspace.ng is a platform that will save them a lot of energy, time and cost and end up using it as their primary source to find, negotiate and book advert spaces.
He also encouraged individuals who intend to work as media buyers or agents to use adspace.ng to order and deploy adverts across different media types for their clients.
“This reduces the workload and they will still be able to generate revenue by using the platform,” he explained.
While talking about his expectations for the platform in the next 5 years, he said:
“In the next 5years, we hope adspace.ng will be the go-to reliable platform for advertisers to run their 360 advert campaigns. We are also looking at expanding into other African markets including Ghana, South Africa and Kenya.”