Due to the importance and value given to advertising in recent times, the cost has invariably increased, thereby making it unaffordable or too expensive for some advertisers. It can be said that apart from inflation, the law of demand and supply is also at play here.
It is however, a breath of fresh air to be able to conveniently advertise products and services not just at an affordable rate, but also with the desired and appropriate platform(s).
Kunle Yakubu, the Chief Executive Officer (CEO) and co-founder of Adspace.ng, disclosed that advertisers that use the newly launched application will enjoy 20% discount on average advert cost.
He further explained that individuals that register as agents will be able to make residual income by helping advertisers use the platform to run their campaigns.
Media owners 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 stated 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.”
Yakubu explained that 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.
According to Yakubu, while speaking about the need for advertising technology in the market place, he opined 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.
“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 emphasized that the goal of the company is to bring advertisers and media owners closer.
He 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 noted 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.
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 work load and they will still be able to generate revenue by using the platform,” he explained.