Brands/Products
Navigating Uncertainty: The Enduring Value of OOH Advertising in Challenging Times
By Philip Odiakose
In an era marked by economic volatility and shifting consumer behaviors, businesses are grappling with tough decisions regarding their advertising budgets. As a Media Analyst, I have witnessed firsthand the cyclical nature of economic downturns and their impact on marketing strategies. Amidst the uncertainty, one form of advertising continues to stand resilient: Out-of-Home (OOH) advertising. In this article, I explore why OOH advertising remains a steadfast and effective marketing strategy, even when advertising budgets take a hit.
The Unwavering Presence of OOH Advertising
In an increasingly digital world, where consumers are bombarded with online ads and ad blockers are on the rise, OOH advertising offers a refreshing alternative. Unlike digital ads that can be skipped or ignored, OOH ads command attention by occupying physical spaces in the real world. From billboards and transit ads to street furniture and digital screens, OOH advertising permeates urban landscapes, reaching consumers where they live, work, and play.
Resilience in the Face of Economic Downturns
History has shown that OOH advertising is remarkably resilient in times of economic downturns. During periods of recession, businesses often reassess their marketing budgets and seek cost-effective advertising solutions that deliver maximum impact. OOH advertising, with its ability to reach mass audiences at a fraction of the cost of traditional media channels, emerges as a viable option for brands looking to maintain visibility and sustain consumer engagement during challenging times.
Capturing Consumer Attention in Transit
One of the inherent strengths of OOH advertising lies in its ability to capture consumer attention in transit. Whether commuters are driving to work, taking public transportation, or simply walking down the street, they are exposed to OOH ads in their natural environment. Unlike other forms of advertising that require consumers to actively seek out content, OOH ads passively intercept consumers during their daily routines, making them impossible to ignore.
Amplifying Brand Awareness and Recall
OOH advertising excels at amplifying brand awareness and recall by leveraging the power of repetition and visual impact. Studies have shown that consumers are more likely to remember brands and messages encountered multiple times in different contexts. OOH ads, strategically placed in high-traffic areas and optimized for maximum visibility, create multiple touchpoints with consumers, reinforcing brand messaging and driving top-of-mind awareness.
Targeting Specific Audience Segments
Contrary to popular belief, OOH advertising offers sophisticated targeting capabilities that enable brands to reach specific audience segments with precision. Through geotargeting, demographic profiling, and audience segmentation, advertisers can tailor their OOH campaigns to resonate with local communities and niche markets. Whether targeting urban millennials or suburban families, OOH advertising allows brands to deliver relevant and contextual messages to the right audience at the right time.
Embracing Innovation with Digital OOH
The advent of digital technology has transformed the landscape of OOH advertising, ushering in a new era of creativity, interactivity, and engagement. Digital OOH displays, equipped with dynamic content and real-time updates, offer unparalleled flexibility and impact. From immersive brand experiences to interactive gamification, digital OOH advertising pushes the boundaries of creativity and innovation, captivating audiences and driving meaningful interactions.
Conclusion: Embracing the Power of OOH Advertising
As advertising budgets come under scrutiny and businesses navigate the complexities of an uncertain economy, OOH advertising emerges as a beacon of stability and effectiveness. With its ability to command attention, withstand economic downturns, target specific audience segments, and embrace innovation, OOH advertising continues to deliver tangible results for brands across industries. As a Media Analyst, I remain steadfast in my conviction that OOH advertising is not just a vehicular marketing strategy—it is a strategic imperative for brands looking to thrive in an ever-changing media landscape.
Philip Odiakose is the Chief Media Analyst and Managing Consultant at P+ Measurement Services and TMKG Consulting, members of the Media Monitoring and Audit Group (MMAG). Both agencies are members of AMEC and PAMRO
By Modupe Gbadeyanka
Residents of Egbin, Ijede, and Ipakan in Lagos State recently trooped out for the 7th Annual Medical Outreach of Egbin Power.
The three-day medical outreach was organised in partnership with a Non-Governmental Organisation (NGO) known as Livewell Initiative in line with the power-generating company’s commitment to ensuring healthy lives and well-being of its host communities.
This programme also aligns with the United Nations (UN) Sustainable Development Goal 3 (SDG 3) – Good Health and Well-being.
The outreach attracted over three thousand people, including children, adults and nursing mothers, who enjoyed cardiovascular, arthritis, dental, eye-check, diabetes tests, malaria treatment, hepatitis screening, and blood pressure examination.
It was gathered that eyeglasses, dental kits, and medications were administered at no cost to the residents after careful examination by qualified medical practitioners.
“At Egbin Power, we recognise that the health and well-being of our host communities is crucial to our success. This medical outreach programme is one of the ways we demonstrate our commitment to giving back to our host communities.
“It is also in alignment with our commitment to SDG 3 and we believe that access to quality healthcare is a fundamental right, and we will continue to work towards making it a reality for all,” the Head of Corporate Communications and Branding at Egbin Power, Mr Felix Ofulue, stated.
“We are proud to partner with Egbin Power on this medical outreach programme. Together, we are making a positive difference in the lives of the people in these communities,” the Managing Director of Livewell Initiative, Dr Bisi Bright, said.
Also speaking at the event, the Aro of Egbin Kingdom, Mr Olayemi Olukunga, said, “We are grateful to Egbin Power for their kindness and generosity. This medical outreach programme has become an annual tradition that we look forward to, and we appreciate the positive impact it has on our community.”
One of the beneficiaries, Mrs Wasilat Ogundipe, thanked Egbin Power for the gesture, saying, “It affords us timely access to free medical examinations, enabling our children, parents and vulnerable community members to address their health concerns.”
By Adedapo Adesanya
International Workplace Group (IWG), the world’s largest provider of hybrid working solutions with notable brands like Spaces and Regus, is opening two state-of-the-art flexible workspaces in Lagos to meet the rising demand.
The addition of IWG’s latest locations, HQ Lagos Lekki Link Bridge and Regus Lagos Mansard Place, followed the business posting its highest-ever revenue, cashflow and earnings growth in its history and achieving rapid network growth, signing 465 new locations in the first half of 2024 alone.
According to the company, the adoption of hybrid working rapidly is accelerating across Nigeria and these new locations in Lagos are part of the drive by IWG to meet the sharply rising demand for top-class flexible working space in the area.
Its unique offering will enable local people to experience living in a “15-minute” city, allowing workers to work close to their homes without commuting far from where they live.
The HQ workspace is set to open in Lekki in March 2025 and will It will be located on the 2nd and 3rd floor while the Regus location at Mansard Place (situated at Plot 928, Bishop Aboyade Cole Street, Victoria Island) will be on the 3rd floor of the six storey building and will open in February 2025.
The buildings will provide space for established firms and start-ups across a range of industries, while IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements. The new locations will include facilities including private offices, meeting rooms, co-working and creative spaces.
With explosive market growth as companies of all sizes adopt hybrid working for the long-term, it is predicted that 30 per cent of all commercial real estate will be flexible workspace by 2030 and IWG believes that partners will be able to capitalise on this fast-growing sector,
The potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than £1.57 trillion. Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead.
Last year alone, IWG welcomed over 800 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.
Speaking on this, Mr Mark Dixon, CEO & Founder of International Workplace Group Plc, commented: “We are establishing a stronger and much-needed footprint in Nigeria with this these latest openings.
“As an important business hub Lagos is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal.
“We are very pleased to work in partnership with Sterling Bank and APD Mansard Place to develop the brand under a management agreement that will add a cutting-edge workspaces to their the buildings.
“Our openings in Lagos comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”
By Modupe Gbadeyanka
Another award has been added to the shelves of Airtel Nigeria for the quality service it offers its numerous subscribers.
At the 14th Nigerian NewsDirect Awards held at the Lagos Oriental Hotel on Friday, December 6, 2024, the company went home with the Most Preferred and Admired Telecommunications Brand award.
The chief executive of Airtel Nigeria, Mr Dinesh Balsingh, thanked the news platform for the recognition, reiterating the dedication of the organisation towards the growth of Nigeria.
“At Airtel, we remain steadfast in our mission to enrich lives and contribute to the sustainable growth of our nation, and we are proud to receive this award as the Most Preferred and Admired Telecommunications Brand.
“This recognition reaffirms our commitment to connecting Nigerians, driving digital inclusion, and empowering communities through innovative solutions,” he said.
The ceremony, themed Achieving Economic Prosperity: The Role of Human Capacity Development, Fiscal Prudence, and Revenue Generation, celebrated outstanding contributions made by individuals and corporate organisations to national development across sectors and industries.
The chairman of Odu’a Investment Limited, Mr Bimbo Ashiru, thanked all participating entities for their “continuous contributions and support to the nation’s growth.”
“You have demonstrated excellence and have significantly contributed to Nigeria’s progress and we believe this platform will continue to highlight and encourage best practices across industries,” he stated.
The event attracted several persons, including the chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair; and the Registrar-General of the Corporate Affairs Commission (CAC), Mr Hussaini Ishaq Magaji; among others.
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