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Tag: Advertising industry

  • Advertising industry’s value hits N605.2billion

    Advertising industry’s value hits N605.2billion

    A new report commissioned by the Advertising Regulatory Council of Nigeria (ARCON) and funded by various industry associations has put the value of Nigeria’s advertising industry and contributions to the Gross Domestic Product (GDP) at N605.2 billion

    The report was carried out by PricewaterhouseCoopers (PwC) and presented to stakeholders at a media briefing held yesterday in Lagos.

    Speaking at the unveiling, the Director General of ARCON, Olalekan Fadolapo expressed optimism about the industry’s progress, including the launch of an Audience Measurement initiative.

    He lauded the sectoral groups including the Experiential Marketers Association of Nigeria (EXMAN), Association of Advertising Agencies of Nigeria (AAAN), Outdoor Advertising Agencies of Nigeria (OAAN), Media Independent Practitioners Association of Nigeria (MIPAN) and the Broadcasting Organisation of Nigeria (BON) for funding the study.

    Emphasising the need to quantify the industry’s size and impact as an economic enabler, Fadolapo said: “We cannot continue to guesstimate the size of the industry. This report lays the foundation for us to assess the advertising space and its multiplier effect on the economy every year going forward.”

    According to him, findings of the report underscored the industry’s dominant role as a catalyst for consumer demand, business expansion, employment, and innovation across sectors.

    As parts of strides that ARCON has undertaken to advance the growth of the industry, Fadolapo added that in addition to the Audience Measurement and the GDP Multiplier effect report, the apex regulatory body was also set to hold an event on the audacious rebrand Nigeria project that it had undertaken alongside other projects as part of resolutions from the communique of the National Advertising Conference.

    Chairman of the National Advertising Conference, Tunji Adeyinka, provided context on the study’s genesis. He explained that the 2022 conference highlighted a gap in understanding the industry’s GDP contribution, prompting the decision to engage PwC for a credible assessment. He added that the report examined two key aspects: “the advertising industry’s direct monetary contribution to GDP and its multiplier effect – the amplified impact of advertising investment on overall economic output”.

    Chairman of the Multiplier Study Committee, Femi Adelusi in his presentation revealed the profound impact of Nigeria’s marketing communications industry on driving the nation’s economic growth. Addressing critical industry stakeholders and members of the press, he presented comprehensive findings.

    “The marketing communications sector has emerged as a formidable economic powerhouse. The study estimates that for every N1 spent on marketing communications in Nigeria, the nation’s GDP increases by a staggering N16.5 – a multiplier effect that highlights the industry’s substantial value contribution”.

    According to the study, the total expenditure on marketing communications reached an impressive N605.2 billion in 2023, having grown at a remarkable compound annual growth rate (CAGR) of 18.7per cent over the past six years, from N216 billion in 2018. This trajectory is projected to continue, with spending expected to reach N893 billion by 2028, contributing a significant 1.08per cent to Nigeria’s GDP, up from 0.7per cent in 2023.

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    Clarifying the industry’s segments, Adelusi revealed that the top three contributors to marketing communication spend between 2018 and 2023 were cable TV (25.5 per cent), digital media (18.5 per cent), and creative & content production (13.4 per cent).

    “The proliferation of cable TV, driven by its diverse content offerings and affordable package options, has captivated a wide consumer base. Additionally, the surge in digital media spend, fueled by increased internet and mobile penetration, as well as the rise of social media and video-on-demand platforms, has reshaped the marketing landscape,” he said.

    The study also highlighted the growing influence of creative and content production, which recorded a CAGR of 15.8 per cent between 2018 and 2023, driven by the popularity of smartphones, social media engagement, and the appeal of real-time online content. “The investments by video-on-demand platforms like Netflix and Amazon Prime in Nigerian productions, particularly in the thriving Nollywood industry, has further bolstered this segment,” he added.

    While acknowledging challenges such as economic pressures, regulatory reforms, and competition from global players, the study underscored the industry’s strengths, including rising digital trends, opportunities for local and international partnerships, the ability to leverage technological innovations like AI and big data analytics, Nigeria’s large and culturally diverse market, and the potential for innovative, locally-tailored marketing approaches.

    To speed up the industry’s growth and development, the study outlined key recommendations. These included creating specific, measurable goals for the sector’s GDP contribution, establishing a Joint Industry Body (JIB) for operational coordination among broadcasters, agencies, and advertisers, encouraging strategic alliances among industry players, embracing a “global” approach that combines international best practices with local initiatives, and utilizing analytics tools to track spending patterns and consumer behaviour meticulously.

    “The marketing communications industry is an economic force that deserves recognition and support. By implementing these recommendations, we can unlock the industry’s full potential, drive sustainable growth, foster job creation, and cement Nigeria’s position as a leading marketing communications hub in Africa and beyond,” the report recommended.

    Industry stakeholders have variously praised the study, hailing it as a move in the right direction. Among industry leaders at the event are Tolulope Medebem, President, EXMAN; Brenda Nwagwu, Vice President, MIPAN; Steve Babaeko, President, AAAN, Kenny Ogungbe from BON and Mr. Sola Akinsiuku, President, OAAN, among others.

    According to them, the study’s findings have indeed sent ripples of excitement through the industry, as stakeholders recognize the immense opportunities that lie ahead. With its proven ability to catalyze economic activity, spur innovation, and create employment opportunities, the marketing communications sector is poised to play an increasingly vital role in shaping Nigeria’s economic future.

  • How brand strategy leadership is evolving in Nigeria’s advertising industry

    How brand strategy leadership is evolving in Nigeria’s advertising industry

    Analytical rigour, strategic foresight, creative intuition and consistency define Remilekun Enitan Dosumu’s advertising career. Over more than a decade, she has emerged as a leading figure in shaping brand strategy, transforming campaigns into benchmark-setting initiatives, and redefining what it means to deliver measurable impact in a complex, competitive market. Her career reflects a rare combination of technical expertise, visionary leadership, and the ability to translate insights into results that resonate with audiences and enhance business performance.

    Dosumu’s journey began in 2011 at All Season Zenith, where she worked as a media executive managing campaigns for clients such as Seven-Up Bottling Company, Chi, Pal Pension, Skye Bank, and Golden Penny. In these early years, she quickly distinguished herself with a capacity to secure value in media investments. She negotiated more favorable rates with vendors, reducing overhead media costs by 12 percent while ensuring compliance and campaign effectiveness. Her strategic approach also unlocked bonus media placements, enhancing visibility and audience reach. These achievements were not merely operational; they reflected an instinct for aligning media investment with broader brand objectives, a skill that would define her career.

    By 2014, Dosumu had moved to QVT Media, taking on responsibilities in content marketing alongside media buying. This shift allowed her to integrate creative execution with strategic media decisions, elevating brand engagement across multiple channels. She collaborated with multimedia teams to create platform-specific content, launched strategic sponsorships and events that enhanced brand visibility, and ensured messaging remained cohesive and consistent. The impact was quantifiable. Campaign effectiveness rose by 27 percent, audience engagement increased, and brands she managed gained measurable traction across both digital and traditional platforms. These outcomes established her reputation for blending data-driven strategy with creative insight.

    In 2017, she joined PHD Media as a senior executive in media buying and control, where her work increasingly shaped brand strategy itself. She implemented real-time monitoring systems for campaigns, optimizing media inventory allocation and enhancing operational efficiency. By cultivating strong relationships with media vendors, she secured priority placements and added-value opportunities that increased campaign impact without inflating costs. Her methodical approach was underpinned by data analytics and performance measurement, ensuring each campaign not only reached its target audience but also achieved measurable business outcomes.

    Her rise within PHD Media was rapid, reflecting her capacity to influence both strategy and execution. As manager of media investment and compliance, she leveraged research and analytics to identify high-performing media channels, increasing campaign engagement by 20 percent. She oversaw sponsorships and events that strengthened brand affinity, maintained a compliance rate of 99 percent, and nurtured junior teams to achieve higher quality output. These initiatives demonstrated her belief that effective brand strategy depends not only on media placement but also on alignment with consumer insights, operational excellence, and team performance.

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    The strategic acumen that Dosumu brought to brand leadership became even more evident when she assumed the role of senior manager and eventually head of media buying and investment. Her leadership during this period has transformed brands through innovative planning and execution. By renegotiating vendor contracts and optimizing media mixes, she achieved a 15 percent reduction in costs while simultaneously boosting return on investment by 25 percent. These efficiencies allowed clients to maximize reach and engagement without exceeding budgets, demonstrating a clear link between disciplined media investment and business outcomes.

    Some of the most visible examples of her work include high-profile campaigns for multinational and domestic brands that have won recognition at the African Magic Viewers Choice Awards, Big Brother Nigeria, and English Premier League activations. Her ability to orchestrate integrated campaigns that combine traditional and digital channels, sponsorships, and event activations has consistently elevated brand presence. By introducing automation tools and piloting innovative media platforms, she not only improved efficiency but also positioned PHD Media as a forward-thinking agency capable of delivering measurable, sustainable results. Over nine months, her initiatives contributed to 85.2 percent of the agency’s commercial income, reflecting the business impact of her leadership.

    A defining feature of Dosumu’s approach is the seamless integration of data analytics with creative strategy. She emphasizes understanding consumer behavior and translating insights into actionable brand solutions. For clients such as Unilever, her campaigns consistently met and exceeded ROI expectations, achieving a 45 percent improvement in performance while maintaining 100 percent return on investment. By combining quantitative assessment with qualitative insights, she ensures campaigns are relevant, culturally resonant, and capable of influencing consumer behavior and loyalty.

    Innovation underpins Dosumu’s leadership. She has introduced tools for real-time campaign tracking and reporting that improve transparency and decision-making for clients. These systems provide clear dashboards for monitoring media performance, ensuring every campaign is measurable and accountable. At the same time, she has nurtured a culture of continuous improvement within her teams, mentoring professionals to think strategically, act decisively, and execute flawlessly. The results have been evident in reduced staff turnover, improved operational resilience, and faster, more accurate campaign delivery.

    Her campaigns are notable for their scale and complexity. From product launches to multi-channel sponsorship activations, she has consistently delivered initiatives that elevate brand visibility, strengthen consumer engagement, and enhance overall brand equity. Her expertise extends to rebranding efforts, guiding organizations through complex transitions while maintaining strategic alignment with business objectives. By applying behavioral science principles to brand messaging, she ensures that campaigns are not only seen and heard but also understood and acted upon by target audiences.

    Dosumu’s leadership has been recognized through numerous awards, including Most Outstanding Media Investment Professional of the Year in 2022 and multiple Pitcher Awards for excellence in media execution. These accolades reflect her ability to translate strategy into tangible business impact while setting new benchmarks for the industry. Her scholarly contributions, including peer-reviewed publications on predictive marketing, multi-channel engagement, and media compliance, further demonstrate her commitment to advancing professional practice and thought leadership in advertising.

    Her academic foundation supports her strategic and analytical approach. Holding a Master of Science in Mass Communication and Media Studies from the University of Lagos and a Bachelor of Science in the same field from Redeemer’s University, Dosumu combines theoretical expertise with practical execution. Her research spans areas such as digital marketing sustainability, healthcare marketing analytics, and consumer engagement frameworks, providing a scientific underpinning for the strategic decisions she implements for brands.

    Beyond her immediate professional achievements, Dosumu is deeply committed to mentorship and industry development. She has mentored junior professionals, contributed to thought leadership panels, and served as a section editor for journals in consumer marketing, product launch management, and brand communication. Her engagement ensures that her influence extends beyond the campaigns she leads, shaping the next generation of advertising and media professionals.

    Dosumu’s approach to brand strategy is characterized by balance: analytical rigor meets creative insight, operational discipline complements strategic vision, and measurable outcomes align with long-term brand growth. Her ability to navigate complex media landscapes, optimize investment, and drive consumer engagement demonstrates a nuanced understanding of the factors that influence brand performance in fast-moving markets.

    Her record illustrates that effective brand leadership is not merely about managing campaigns but about shaping the way organizations connect with audiences. Every media buy, sponsorship, and activation she has managed is informed by rigorous analysis, audience insight, and a focus on return on investment. The results speak for themselves: increased engagement, measurable ROI, enhanced brand perception, and awards that recognize excellence across multiple dimensions of media and marketing.

    Her leadership has transformed brands; optimised media spend and delivered campaigns that resonate with audiences and drive measurable outcomes. She demonstrates that disciplined strategy, creative thinking, and analytical insight can converge to elevate brand performance, establish industry benchmarks, and influence the future of advertising in Nigeria.

    Dosumu’s work provides a blueprint for success. She shows that integrating insights, innovation, and operational efficiency is essential to building strong brands that deliver tangible business value. Her campaigns illustrate the power of strategic media investment and the importance of understanding the audience, ensuring that brands not only communicate effectively but also achieve lasting relevance.

    Through her campaigns, mentorship, and thought leadership, she has set new standards for what it means to build, transform, and elevate brands in a competitive, fast-evolving market. Her work underscores that success in brand strategy requires more than creativity or technical skill; it requires disciplined leadership, insightful analysis, and an unwavering commitment to delivering results that matter.