President of Media Independent Practitioners Association of Nigeria (MIPAN), Mr. Tolu Ogunkoya has advocated a paradigm shift in media investments in a bid for advertisers to maximize value in their media spend. Ogunkoya stated this recently in a paper entitled Modern Approach to Media Investments- a media specialist’s insight in Lagos .
He advocated that advertisers in the print media should buy impressions not insertions, for TV and radio gross rating points (GRPs) not just spots; for Outdoor of Home (OOH) unduplicated traffic not number of sites; for internet, impressions not days and for mobile, responses not database.
The MIPAN president said that media vehicle selection is the final step in the planning process and needed to be as objective and data led as possible because it is critical that the strategy considerations are carried forward to this stage.
Ogunkoya, who is also the managing director of MediaReach OMD, contended that pointers for media vehicle selection are AMPs, TV and radio diaries, internet and mobile traffic data and Out of Home (OOH) traffic estimates and foot fall information stores and malls.
He said key metrics that guide the media vehicle selection decision are in print, the reach of a publication in the target group; in television, reach of station, programme GRPs and time spent on programme; in radio, the reach of station, time band GRPs, radio jingle popularity and value ads among others.
The president stated that mobile applications were an emerging advertising opportunity and needed to be benchmarked using direct response return on investment metrics like per unit cost of customer acquisition and average return per user among others.
Also speaking at the seminar, Mr. Kevin Ejiofor, managing director of City 105.1FM Radio in his paper entitled Modern Approach to broadcast media selling: Lessons from research, said let research become an industry-wide responsibility as a matter of life and death.
He defined research as the search for knowledge, or any systematic investigation, with an open mind, to establish novel facts, usually a scientific method.
Ejiofor said some of the lessons that would be derived from research are openness, accountability through participation and principle of common interest.
He said democratization of research would sanitise the results of research, separate myths from facts, end disputations and the compilation of reliable statistics to aid effective planning.
He urged stakeholders to pay close attention to offering quantifiable value to the industry through democratization of research.
Speaking from the perspective of an advertiser, Mr. Kolawole Oyeyemi, a general manager with MTN said media platform that would be an advertiser’s must demonstrate excellent and measurable impact of the message on the desired target customer of the advertiser.
It should also present itself as a brand engagement platform and not as an impersonal static platform and should optimally deliver good returns on investment and not seen as cost centre to the business.
No comments:
Post a Comment