Agency Releases Q3 Media Audit Report on Nigerian Banking and Insurance Industry
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. This was evidently evaluated 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 5% at 95% confidence level and in Q2 and Q3 2020, a total of 3,360 publications were monitored.
An analyst at the media intelligence agency remarked that this data-driven report is to provide rich insights into the media performance of brands in the banking and insurance industry, identify key areas where media exposure for these brands can be further strengthened. He also encouraged brands to key into media monitoring and evaluation as part of their PR and Communications strategies to gain valuable media share as top players in their industries, which will contribute to driving brand loyalty and increase patronage for brands in a competitive business world.
From the report, 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-sites and brand sites.
The most engaged online publications for editorial in the banking industry for Q3 were Thisdaylive.com, Businessday.ng and Nairametrics.com, while Proshareng.com, Thisdaylive.com and Independent.ng were the most engaged online publications in the insurance industry for Q3.
Advert placement was sourced out more by the banking industry, with ThisDay, Leadership and BusinessDay topping the list of print publications with the highest earnings in the for Q3, while BusinessDay, The Punch and Daily Trust topped the list of print publications with the highest earnings in the insurance industry for Q3.
Findings from the Q3 report shows that the media engagement on Corporate Social Responsibility was led by Stanbic IBTC (46%), Heritage Bank (24%), Fidelity Bank (12%), Union Bank (11%) and Sterling Bank (7%) and the insurance companies that ranked most on Corporate Social Responsibility includes Prudential Zenith Life Insurance (67%), AIICO Insurance (20%), and AXA Mansard Insurance (13%).
The media intelligence report also shows the prominence of Chief Executive Officers of banks and insurance companies as Adesola Adeduntan of First Bank of Nigeria, Herbert Wigwe of Access Bank and Segun Agbaje of Guaranty Trust Bank led the Bank CEOs and Babatunde Fajemirokun of AIICO Insurance, Chuks Igumbor of Prudential Zenith Life Insurance and Kunle Ahmed of AXA Mansard Insurance led the insurance CEOs in Q3 2020.