GLO can­cels multi-mil­lion naira out­door ad­ver­tis­ing con­tracts

Daily Trust - - BRAND EQUITY - From God­win Anyebe

One of the lead­ing Global Sys­tem for Mo­bile com­mu­ni­ca­tion ser­vice providers (GSM com­pa­nies), and an in­dige­nous tele­com brand, GLO, has writ­ten to all its out-of-home con­trac­tors na­tion­wide to can­cel all the out­door ad­ver­tis­ing con­tracts with the tele­com com­pany has with them.

The af­fected out­door ad­ver­tis­ing agen­cies in­clude In­vent me­dia, Ex­ec­u­tive Op­tions Me­dia, Ful­ham Nige­ria, Cap­i­tal Me­dia, CBS Out­door, Ad­gozo, Mkpoko Ikenga, Op­ti­mum Ex­po­sure and New Crys­tal Me­dia, among oth­ers. The re­voked con­tracts are es­ti­mated to be worth about N78 mil­lion. The de­ci­sion will af­fect hoard­ings across Nige­ria, but mainly in the West, East, South-South, Abuja and North West.

In­ves­ti­ga­tions also re­veal that the in­ter­na­tional tele­com com­pany has re­viewed tele­vi­sion and press cam­paign bud­get down­ward, leav­ing the brand with dig­i­tal ad­ver­tis­ing plat­form as its lead-ad­ver­tis­ing plat­form, for now.

The rea­son be­hind what in­dus­try watch­ers see as a dras­tic re­view of GLO’s mar­ket­ing com­mu­ni­ca­tion bud­get is yet to be as­cer­tained. The Mike Ade­nuga-owned telecoms brand has not is­sued any of­fi­cial state­ment on the mat­ter. How­ever, the de­ci­sion can­not be too far from the present harsh eco­nomic cli­mate which has tam­pered with cor­po­rate earn­ings neg­a­tively. De­cline in cor­po­rate earn­ings has forced many com­pa­nies to tam­per with ex­pen­di­ture ar­eas that do not directly im­pinge on their core op­er­a­tions. Air­tel has also been re­ported to have re­viewed its Out­door ad­ver­tis­ing bud­get down­wards some months back, due to same rea­son.

GLO is also to scale down the num­ber of its brand am­bas­sadors, for same rea­son it has taken the new de­ci­sion on its out­door ad­ver­tis­ing bud­get.

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