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Explainers - Tech Analysis - October 6, 2020

Why Companies are Focusing on Digital Advertising and Making more Use of Influencers

There has been a major transformation in the global media industry. For one, everything is now online. Even traditional print media firms that have existed for many years have now had to position their online presence in order to remain relevant. This “paradigm shift” explains why companies are focusing on digital advertising and making more use of influencers, as you shall see shortly.

As you may well know, technology has completely changed the way we do things. One of the areas this change is most pronounced is in the media and advertising industry. Hardy can you use your phone for one hour without reading at least one article or watching a video. In between these, you will surely see at least an advertisement calling on you to patronize a particular brand or take other kinds of action. Such is the digital age we live in.

Quick stats to note

Do you know how long an average Nigerian spends daily surfing the internet on a daily basis? Across Africa, people are spending longer hours on the internet every day. All these times spent on the internet provides the opportunity to reach people with targeted advertisements that have been proven to be effective. And this is why companies are focusing on digital advertising. A communication manager at a major Lagos-based FMCG who spoke anonymously to Business Elites Africa recently, disclosed that his firm now has a higher budget for online advertising than they do for traditional media platforms.

An Expert’s View on why companies are focusing on digital advertising

In an emailed response to a recent media enquiry by this author, the Founder/CEO of  Plaqad Inc, Gbenga Sogbaike, said that more companies are adopting digital advertising out of the need to track/measure the reach and impact of their ads. He said

“I believe one major reason for this is the ability to accurately track and measure the impact of digital advertising, which is largely not the case with traditional advertising. Also, influencers, generally, are more trusted, believable and relatable than random ads. You would more likely buy a product or use a service because your favorite online influencer or even your sibling who has tried out the product recommend it than if you just saw a billboard screaming at you.

“Also, brands are cutting down on ad spend and would rather invest their marketing budget more judiciously, say in online platforms and influencers who have been able to build trust with their target audience.”

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