Banks, Insurance Firms Prefer ThisDay, Business Day for Adverts—Survey
By Modupe Gbadeyanka
A survey conducted by Nigeria’s foremost PR Measurement and Evaluation agency, P+ Measurement Services, has indicated that two leading national newspapers were preferred for the placement of adverts in the third quarter of the year.
In the report made available to Business Post, it was revealed that ThisDay newspaper was the most sought after publication for banks, as BusinessDay newspaper was the most sought after publication for insurance companies in terms of placement of adverts in the media.
The study, based on the research data for advert and editorial analysis, had an error margin of 5 per cent at 95 per cent confidence level and in Q2 and Q3 2020, a total of 3,360 publications were monitored.
An analyst at the media intelligence agency remarked that this data-driven report is to provide rich insights into the media performance of brands in the banking and insurance industry, identify key areas where media exposure for these brands can be further strengthened.
He also encouraged brands to key into media monitoring and evaluation as part of their PR and Communications strategies to gain valuable media share as top players in their industries, which will contribute to driving brand loyalty and increase patronage for brands in a competitive business world.
From the report, the sampled data and platforms used were 21 commercial banks in Nigeria and leading insurance companies’ media data; 44 newspapers including magazines; online media publications consisting of blogs, forums, financial sites, insurance sites, online news-sites and brand sites.
The most engaged online publications for editorial in the banking industry for Q3 were Thisdaylive.com, Businessday.ng and Nairametrics.com, while Proshareng.com, Thisdaylive.com and Independent.ng were the most engaged online publications in the insurance industry for Q3.
Advert placement was sourced out more by the banking industry, with ThisDay, Leadership and BusinessDay topping the list of print publications with the highest earnings in the for Q3, while BusinessDay, The Punch and Daily Trust topped the list of print publications with the highest earnings in the insurance industry for Q3.
Findings from the Q3 report showed that the media engagement on Corporate Social Responsibility was led by Stanbic IBTC (46 per cent), Heritage Bank (24 per cent), Fidelity Bank (12 per cent), Union Bank (11 per cent) and Sterling Bank (7 per cent) and the insurance companies that ranked most on Corporate Social Responsibility includes Prudential Zenith Life Insurance (67 per cent), AIICO Insurance (20 per cent), and AXA Mansard Insurance (13 per cent).
The media intelligence report also indicated that the prominence of Chief Executive Officers of banks and insurance companies as Adesola Adeduntan of First Bank of Nigeria, Herbert Wigwe of Access Bank and Segun Agbaje of Guaranty Trust Bank led the Bank CEOs and Babatunde Fajemirokun of AIICO Insurance, Chuks Igumbor of Prudential Zenith Life Insurance and Kunle Ahmed of AXA Mansard Insurance led the insurance CEOs in Q3 2020.
The full report can be requested HERE
Fez Delivery Raises $1m to Boost Logistics Offering in Nigeria
By Adedapo Adesanya
Fez Delivery, a logistics and delivery company, has announced its $1 million seed round to expand its offering in Nigeria.
The funding was led by Ventures Platform with participation from Voltron Capital, Acasia Ventures (formerly Cairo Angels), and other angel investors.
This funding announcement follows Fez Delivery’s acceptance as one of the only two logistics companies in Nigeria to have received investment from Techstars Toronto, an elite global tech accelerator.
Fez Delivery was founded in 2020 by Mrs Seun Alley as a pivot from its previous company, which offered janitorial services to businesses but suffered from absenteeism of the janitors because they were running errands for employees.
Speaking on the funding, she said the company would use it to reposition as a full-fledged tech company focused on last-mile deliveries.
“We launched a janitorial service company in 2016. The following year, we observed a trend of janitors being absent from their duty posts because they were on errands for employees.
“As a stop-gap, we introduced delivery services to the companies we were working with so that our janitors could focus on their work. It was wildly successful. This experience made us realise that last-mile logistics is a significant problem for SMEs and individuals.
“We decided to address this problem by creating a platform that allows businesses and individuals to easily track their items online in real-time, without using multiple logistics partners,” she stated.
The logistics industry is one of the fastest-growing industries in Nigeria, spurred by the meteoric rise in online shopping, which generated an estimated revenue of $5 billion in 2019 with an expected CAGR of 20.5 per cent from then till now.
The size of this opportunity has led to the rise of many logistic businesses in the country. Yet, many struggle to differentiate themselves and run a sustainable business.
Fez Delivery distinguishes itself in the market by offering tailored and hybrid solutions that combine physical touchpoints with technology to serve its customers.
“Our learnings over the last seven years have revealed that different business priorities exist regarding last-mile delivery,” Mrs Alley said, adding that “For FinTech, reach is critical. For Pharma, the estimated delivery time is a big deal, and the pricing must be competitive for SMEs.
“Therefore, we have built an array of tech-enabled solutions; mobile and web apps (targeted at individuals), dashboards and APIs (for businesses) alongside a wide physical reach that spans all the 36 states in Nigeria, including the FCT.”
The three-year-old startup makes money by charging individuals per delivery, and businesses a monthly subscription.
In 2022, the logistics startup completed 200,000 trips and grew revenue by 20 per cent month-on-month. Its clientèle includes the likes of Flutterwave, Kuda Bank, Moniepoint, OPay, Famasi Africa, and Red Bull.
Adding his input, the Marketing Manager of Redbull Nigeria, Mr Toheeb Azeez, said, “Fez Delivery has been a reliable and affordable delivery service for our company since its inception. They have a wide reach across all the 774 local governments in Nigeria, which makes it easy for us to get our products to our customers quickly and efficiently. We are also impressed with their customer service, which is always prompt and helpful”.
The co-founder and CTO, Mr Oluwafemi Jose, stated that “our goal has always been to create something truly transformative. We’re excited to use this funding to accelerate our innovation, expand our team, deepen our development efforts and bring more value to our customers and partners.”
General Partner at Ventures Platform Fund, Mr Dotun Olowoporoku, added, “We are excited to partner with Fez Delivery in their mission to bring efficiency to the logistics industry. This industry is characterised by high fragmentation, demand-supply mismatch, and lack of transparency due to heavy manual processes. Seun, a second-time founder, is an excellent operator with a solid vision for the future of last-mile delivery. By developing technology to enable other market players to thrive, Fez Delivery is well-aligned with our investment thesis to support market-creating innovation in underserved industries.”
Fez Delivery also added that it would continue to deepen its work in Nigeria before considering other African markets.
“We’re currently focused on the $10 billion transport and logistics market in Nigeria, where we still have room to grow. We plan to keep growing in Nigeria and expand to other markets starting in the last quarter of this year. Ghana, Kenya, and South Africa are on our list, but we haven’t decided on the order yet”, Mrs Alley added.
The Role of Media Monitoring Services in Governance and its Application
By Philip Odiakose
The role of media monitoring services in governance has become increasingly important in today’s rapidly changing media landscape.
With the proliferation of social media and other online channels, decision-makers need to stay up-to-date with public opinion, emerging trends, and media coverage on specific topics or issues.
In this article, we will explore the role of media monitoring services in governance, its applications, and how it contributes to effective decision-making.
Media Monitoring Services and Their Importance
Media monitoring services are tools that track media coverage of specific topics or issues across a range of media sources, including news outlets, social media, and blogs. These services use algorithms and other technologies supported by humans to scan and analyze media content, providing insights into how issues are being discussed and perceived in the media landscape.
The importance of media monitoring services in governance cannot be overstated. Decision-makers need access to timely and accurate information about public sentiment, emerging trends, and media coverage to make informed decisions. Media monitoring services provide a wealth of data that can be analyzed and used to guide decision-making processes.
Applications of Media Monitoring Services in Governance
Media monitoring services have numerous applications in governance, including:
1. Tracking Public Sentiment
One of the primary functions of media monitoring services is to track public sentiment on specific topics or issues. This information is critical for government agencies, political parties, and other organizations that need to understand public opinion and how it may be shifting over time.
For example, P+ Measurement Services was engaged during the 2019 Lagos state election to provide media monitoring services for various political parties to enable them to understand how their messaging resonates with the public and adjust their strategies accordingly. Similarly, government agencies can use media monitoring services to track public opinion on specific policy issues and adjust their messaging and strategies based on the feedback they receive.
2. Crisis Management
Media monitoring services are also valuable tools for crisis management. During a crisis or emergency, decision-makers need to stay up-to-date with media coverage, identify potential risks and threats, and respond quickly to changing situations.
Media monitoring services can help officials stay informed about the evolving media landscape during a crisis, allowing them to make data-driven decisions and respond quickly to emerging issues. For example, during the COVID-19 pandemic, organizations engaged P+ Measurement Services to provide timely and tailored media coverage of the virus and its impact on different states in Nigeria, providing valuable insights that informed government responses.
3. Policy Development
Media monitoring services can also provide decision-makers with valuable insights into public debates, stakeholder opinions, and emerging issues, which can inform policy development and decision-making.
For example, media monitoring services can help government agencies track media coverage of specific policy issues and identify key stakeholders and influencers in the public debate. This information can then be used to engage with stakeholders and influencers and shape policy development based on their feedback.
4. Public Relations
Media monitoring services can also be used to manage the public image of government agencies, political parties, and other organizations. By tracking media coverage and identifying opportunities for positive coverage or potential reputational risks, decision-makers can adjust their messaging and strategies to maintain a positive public image.
For example, media monitoring services can be used to track media coverage of a government agency’s activities and identify opportunities for positive coverage or potential reputational risks. This information can then be used to adjust messaging and strategies to maintain a positive public image.
Media Monitoring Services and Effective Decision-Making
Media monitoring services play a critical role in effective decision-making in governance. By providing decision-makers with timely and accurate information about public sentiment, emerging trends, and media coverage, these services enable data-driven decision-making processes.
Decision-makers can use media monitoring services to identify emerging issues, track public sentiment, and stay up-to-date with media coverage, allowing them to make informed decisions. By incorporating media monitoring services into their decision-making processes, decision-makers can respond more quickly to emerging issues, shape public opinion, and maintain a positive public image.
Philip Odiakose is the Chief Insights Consultant at P+ Measurement Services, a Media Intelligence Consultancy in Lagos state, Nigeria.
Bigi Cherry Cola Lover Wins Car in 3rd Watch and Win Promo
By Modupe Gbadeyanka
A woman, Mrs Dove Akinadewo, has emerged as a brand-new car winner in the 3rd Bigi Watch and Win Promo in Lagos.
She clinched the prize at the raffle draw event held at Silverbird Cinemas for consuming Bigi drink products.
Mrs Akinadewo, a Bigi Cherry Cola lover, expressed her excitement over the gift and lauded the Bigi brand for engaging consumers with memorable experiences that change lives across the country.
“I am so happy. I am now a brand-new car owner, and I have Bigi drinks to thank for this. Whenever I watch movies now, I think of Bigi drinks and take my favourite Cherry Cola to heighten my movie experience,” she said cheerfully.
The Watch and Win Promo is an event flagged off by Bigi drinks in December 2021 to excite movie and cinema lovers in Lagos and Abuja by offering them rewards for their viewing experiences.
At the draw in Lagos, other consumers received consolation prizes like laptops, Bigi products, blenders, printers, air pods, and several others.
Commenting on the development, the Assistant Brand Manager of Bigi, Ms Biola Aransiola, reaffirmed the brand’s goal and commitment to creating refreshing experiences for its consumers, especially movie and entertainment lovers in the country.
“With the Watch and Win Promo, the Bigi brand offers movie lovers an exciting, enduring and thrilling experience that will consolidate consumers’ loyalty,” she affirmed, stressing that the promo demonstrates the brand’s commitment to the growth of the movie industry and entertainment sector by adding value to lives through rewarding movie and cinema lovers.
The Watch and Win Promo inspires exciting movie experiences that offer movie lovers and consumers a great reward for their money while enjoying their favorite movies with family and friends.
With the third edition of the promo, the Bigi brand has heightened the excitement and anticipation of the initiative as movie lovers in Lagos and Abuja keep looking forward to storming the Silverbird cinemas to engage with the brand which offers its unique and thrilling experience with its array of 13 fantastically refreshing variants from its portfolio.
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