Experts Welcome New Data Driven Solutions to Redefine Out-Of-Home, Experiential in Nigeria
Industry experts converged on highbrow Radisson Blue Anchorage, Victoria Island, Lagos to officially welcome Interaction Channel Limited’s (ICL) new solution primed to help reposition the Out-of-Home and experiential sectors as data-driven solutions were formally unveiled thereby giving client’s performance data about their campaigns on any board.
The solution which seeks to bring to an end the long era of lack of adequate data to know the efficiency of out-of-home and experiential campaigns, experts have disclosed is revolutionary. Experts made this known at ICL’s first event on location data for marketing decision-makers held in Lagos Wednesday 30th October, 2019 with the theme: “Location Data Meets OOH Media.”
The ICLMW technology solution which is a partnership between Interaction Channel and Moving Walls, out-of-home strategy, planning and buying, digital marketing and brand activation, can now benefit from this 5th generation cutting edge technology to deliver real value. Dynamic media and content planning is now made easy for clients and brands that would leverage the real-time data that the ICL Solution offers.
It would be recalled that ICL in a strategic move recently signed a partnership deal with Moving Walls to provide upscale location intelligence for media and marketing services.
A robust synergy is now possible across media types, for example, OOH Media + Mobile as brands can now measure, optimize and track campaign effectiveness pointed out, Tosan Omagbemi, Managing Director, ICL, adding that advertisers will be able to customize audience segments and use the understanding of time belt to reach specific audiences. “The technology lifestyle solution would aid marketers and sales personnel deploy their consumer initiatives with an unprecedented higher level of precision”.
“What we provide is location intelligence. That solution goes beyond traditional OOH media to other non-OOH traditional opportunities including in-mall, etc. We help advertisers/brands understand points of interests (POIs) where consumers visit and match with advertising opportunities to best expose brand campaigns. We provide to drive optimal campaigns,” he explained.
Despite its huge capabilities, the event specifically targets OOH, Tosan explains, “We decided to speak to out-of-home specifically today because as we are all aware out-of-home takes a lot of the marketing budget and it is at the forefront of offline media investment. However, there has not been a proper attribution of audiences to OOH locations and there is no scientific knowledge of performance, so we decided to talk about out-of-home today. The technology solution, however, can deliver on a number of variables including; retail analytics and event measurement”
What is the expected impact on the industry? He responds, “What we expect, first from the advertisers’ point of view is that they would be able to now target more precisely out-of-home, so they would be able to cut all of those wastages due to out of scope in audience targeting and thereby optimizing their spend and the media owners will also be able to sell their assets with audience data.
In the same vein, Srikanth Ramachandran, MD/CEO, Moving Walls said “advertisers have bought media for so long, it’s time to begin to buy audiences – time to reach your real target audience. We are optimistic that our technology solution would serve as a catalyst for growth.”
Basically, Moving Walls operates Moving Audiences, a location intelligence platform that brings transparency and automation (OOH) media via planning, buying, content-serving, and measurement tools.”
“Out-of-media is the only traditional media which is growing year on year, the rest of the traditional media are under pressure and what is fascinating in this industry is it doesn’t have any data to support why brands are spending so much money, that is really the reason we built our platform which we introduced to Nigeria. We have measured over 1,500 billboards in Nigeria, so that clients can understand where their money is going, what is the kind of return on investment that their money is bringing, that is one part of the solution.”
He stated that the second innovation bringing to the Nigerian market is programmatic, adding that the aim is to connect billboard with consumers using automations.
Emmanuel Agu, Group Marketing Director, Jotna Nigeria explained that brands look at the impact of particular media on their return on investment and when it is time to cut budget, OOH budget has always been affected because of lack of data.
Dr. Ken Onyeali Ikpe, Media Independent Practitioners Association of Nigeria (MIPAN) President said times have changed because of this people and businesses needs to align with new realities especially with ICLMW technology solution, stating that the innovation is a welcome idea. “The days when people hide behind ignorance is gone because the internet of things disposes that the only thing that can’t be left is knowledge.”
Babs Fagade, Founder/CEO, Ocean Outdoor Limited and member of Outdoor Advertising Association of Nigeria (OAAN) executive said the Interaction Channel’s ICLMW technology solution is a good thing for the OOH industry in the country has it would help getting accuracy data about audiences.
Other experts present at the event applauded the innovative solutions form ICL and said the OOH and other industries would greatly depend on the technology.
According to the company, the solution is not exclusive to OOH alone but to multiple Industry verticals. On outdoor advertising, it touches billboard reach, frequency, benchmarking, and store visit attribution. It is also effective in retail analytics as it helps in-store visit measurement, planning and competitor benchmarking. The experiential industry is not left out as a measurement of its activities and events can be carried out by this solution: conversion measurement, audience profiling, and post-event engagement. Experiential agencies can now optimize their activities from planning to event and post-event.