Despite economic challenges, fintech, telecoms, and ride-hailing sectors excel in media coverage, led by strategic PR and strong data in Q3 2024
[dropcap]D[/dropcap]espite Nigeria’s ongoing economic hurdles—ranging from soaring inflation to rising operational costs—the fintech, telecommunications, and ride-hailing sectors have maintained a strong presence in the media.
A report by P+ Measurement Services, Nigeria’s premier media intelligence and PR audit agency, revealed that strategic media relations, targeted marketing campaigns, and effective communication of industry data were pivotal in sustaining the public’s confidence and engagement in these industries during Q3 2024.
Fintech Sector: Flutterwave Leads the Pack
P+ Measurement Services’ media performance audit tracked eight major fintech companies across over 1.3 million online publications and 5,115 print editions.
Flutterwave emerged as the clear leader, securing a 42% share of media coverage, largely driven by its SEND App Remittance Service expansion to 49 U.S. states. This strategic media effort showcased Flutterwave’s influence, positioning it as the frontrunner in the fintech sector.
Moniepoint followed with 29%, thanks to the announcement of enhanced security features, while Opay captured 20%, boosted by the introduction of its Night Guard feature. Kuda, despite a growing customer base, held just 9% of the media share, pointing to lower engagement in comparison to its competitors.
Telecommunications: MTN Nigeria Dominates
In the telecommunications sector, MTN Nigeria stood out, achieving a 49% media share, largely attributed to the extension of its tower lease agreements with IHS Nigeria until 2032.
MTN’s strategic communications bolstered its market leadership, with Globacom following at 21%, driven by its M-Agric Lottery Service partnership with the Lagos State Government.
Airtel Nigeria and 9mobile, on the other hand, registered 15% each in media coverage, underscoring a disparity in media engagement compared to MTN.
This highlights the importance of consistent and well-planned media strategies in maintaining industry prominence.
Ride-Hailing Sector: Bolt Nigeria Takes the Lead
Bolt Nigeria dominated the ride-hailing sector with 51% media exposure, thanks to proactive initiatives like its optional rider verification feature.
InDrive followed with 29%, largely due to its celebration of 5 billion completed deals.
Uber Nigeria achieved 19% of the media share, while Rida Nigeria lagged significantly with only 1%, revealing a gap in media engagement among competitors in this sector.
Strategic Media Management: A Key to Success
The report underscored the importance of strategic media management in driving brand visibility.
Flutterwave, MTN Nigeria, and Bolt Nigeria have effectively leveraged media relations to maintain strong public profiles, reinforcing their dominance in their respective markets.
The media audit highlights the significant disparity in media engagement across the fintech, telecommunications, and ride-hailing sectors, emphasising the need for brands to adopt tailored PR strategies to stay competitive in Nigeria’s fast-evolving business environment.
Source: Read more at thecable.ng
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator and a recipient of the D9112 Superstar Icon Award, who writes ruthlessly about pop culture, religion, politics and entertainment.
