If you target or own a business that targets Nigerians, you may need to brace for impact.
Recently, Nigeria's advertising industry has been in the news for all the wrong reasons.
The Advertising Practitioners Council of Nigeria (ARCON), the regulatory body that oversees the industry, has successfully filed a lawsuit against a major player in the industry - Meta Platform Inc (Facebook, Instagram, WhatsApp) through AT3 Resources Limited - for running 'unauthorized advertisements'.
Regulation may seem like a good thing but as a Professor mentor of mine already asked, “where was ARCON when political ads were flying around the internet?”
I have thought deeply about this lawsuit and I am concerned about the impact it may have on businesses in Nigeria. Professionals like Josh Amobi who are experienced ad users may need to revisit their playbook.
As someone who leads a web3 marketing agency (https://vitrowire.com) and has been in the advertising space for a while, I can tell you that this lawsuit could have far-reaching effects on businesses in Nigeria.
The potential negative impacts of the lawsuit include:
- Increased advertising costs
- Slower business processes
- Negative results for digital ad managers
- Limited social media marketing
Despite these potential negative impacts, there is a silver lining to this cloud.
I took some time to discuss and shed more light on this issue in my latest article on https://blog.vitrowire.com. As a business owner, social media manager, community manager, growth marketer, or digital marketer, you need to know what's coming.
This is why the need for a new marketing approach for projects cannot be overstated. You should start thinking about solid Web3 marketing strategies and tools.
But what is Web3 Marketing? Watch out for my next article where I will unravel this beauty to answer your burning desire.
In the end, I hope that your Nigerian-focused projects and businesses are listed among those that succeeded regardless of your environment.
