Chief Jude Emecheta, Managing Director of Anambra State Advertising Agency, says the agency is targeting revenue generation of about N500 million for 2019.
Emecheta told the News Agency of Nigeria in Awka on Sunday that though the first quarter was almost over, the target was still realistic.
He, however, said the social media was fast taking toll on outdoor advertising business through its online platforms.
The managing director said ANSAA was already putting in place strategies towards E-advertising to enable it tap into the opportunities of technology and compete favourably in the social media age.
He said: “Nowadays, people don’t rely solely on billboards anymore; even the newspapers are also going online so that if you advertise in any newspaper, the advert goes online on their platform.
“So, it is hampering our projections from outdoor returns. We are being more creative about it through technology, workshops, trade fairs, and other avenues to create revenue generating windows for the agency.
“The big spenders like the telecommunications companies, banks, breweries hardly advertise on the roads. The effect usually is that in 2018, we had a target of N1 billion but we had to adjust it down to N500 million for 2019 because of the decline in our big outdoor signages.
“Advertising generally is the act of exposing goods and services to people but our people here are not good advertisers, they believe in the saying that good market sells itself.”
Emecheta, however, said outdoor advertising and signage’s remained the most credible way of creating awareness of goods and services because of the approval process, adding that information in the social media could be misleading.
He called for effective takeoff of Financial Courts and establishment of Financial Mobile Court in Anambra to enable the agency enforce its laws and minimize payment defaults.
He said: “We are also open to out-of-court settlement for those who are willing to withdraw their cases and those that are coming back to us for talks.
“A major problem we have is that financial courts have not taken off; also we don’t have mobile revenue courts; if they were here, we will be making more money because the magistrate courts are constrained at times to grant us our reliefs.
“Politicians refused to pay; rather they were prepared to fight. Some of them were even writing petitions that Anambra government was using security agencies to intimidate them.”