ThisDay, BusinessDay, most sought-after by Nigerian banks, insurance firms — Report

ThisDay Newspaper was the most sought after publication for banks, as BusinessDay Newspaper was the most sought after publication for insurance companies in terms of placement of adverts in the media, according to a report by P+ Measurement Services, Nigeria’s foremost PR measurement and evaluation agency.

The report, based on the research data for advert and editorial analysis, had an error margin of five per cent at 95 per cent confidence level and in Q1 and Q2 2020, a total of 3,360 publications were monitored.

A senior media analyst at the agency, said, “The need to show the impact of messages by the banking and insurance industry was the driving force behind this audit report and we will continue to lead the path in delivering media data-driven analysis in key sectors of the economy.”

He further stated that the sampled data and platforms used were 21 commercial banks in Nigeria and leading insurance companies’ media data; 44 newspapers including magazines; online media publications consisting of blogs, forums, financial sites, insurance sites, online news and brand sites.

In the banking industry, Q2 2020 had the following financial institutions topping the chart for print media advert spend: Access Bank (N147m), Zenith Bank (N144m), Fidelity Bank (N92m), First Bank of Nigeria (N85m) and United Bank for Africa (N74m).

Furthermore, Q1 2020 had Access Bank (N163m), Zenith Bank (N161m), Fidelity Bank (N93m), UBA (N91m) and First Bank of Nigeria (N81m) topping the chart amongst 21 commercial banks.

In the insurance industry, Leadway Assurance topped with the highest advert spend of N11m and N8m in Q1 and Q2 2020 respectively as AXA Mansard Insurance (Q1 – N6m, Q2 – N289,400) and Consolidated Hallmark Insurance (Q1 – N4m, Q2 – N2m) ranked closely, followed by Wapic Insurance (N3m) and Custodian Investment (N2m) which deployed advert only in Q2 2020.

Advert placement was sourced out more by the banking industry, with ThisDayT amassing N354,345,000 in Q2 2020 and N399,825,000 in Q1 2020.

In the insurance industry, BusinessDay amassed N4,754,000 in Q2 2020 and N10,845,700 in Q1 2020. Taking second place in the banking industry is BusinessDay with N60,425,096 and N101,675,413 in Q2 and Q1, respectively, and in the insurance industry, Daily Trust Newspaper had advert placements worth N2,606,859 and N810,600 in Q2 and Q1, respectively.

In third place was Leadership Newspaper and The Punch Newspaper for the banking and insurance industry, respectively, each with N54,565,357 in Q2, N70,600,511 in Q1 and N2,583,752 in Q2 and N3,609,757, respectively.

Findings from the report show that the media engagement on corporate social responsibility was led by Stanbic IBTC, Access Bank, Ecobank, First City Monument Bank and Fidelity Bank and the insurance companies that ranked most in the said engagement include WAPIC Insurance, Leadway Assurance, AIICO Insurance, AXA Mansard Insurance and Allianz Nigeria.

The report also analysed the partnership media engagement as Stanbic IBTC, First Bank of Nigeria, Ecobank, Access Bank and Heritage Bank led the banking industry while AXA Mansard Insurance, Leadway Assurance and AIICO Insurance led the insurance industry.

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