See the step-by-step guide on How to start a media company in Nigeria. With the recent plunge in unemployment, every Nigerian youth is encouraged to find possible means of becoming productive, not just for survival but to awaken potentials that may be dormant within them through creativity, innovation and hard work, they may end up as employers of labour not employees.
A media company is an outfit set up solely for purpose of disseminating information by film, radio and television broadcasting, print publishing and the internet. It is a mass communication outfit, an information bank to the public. It is quite easy to set up one.
Successful media outfits Nigeria have told their stories of little beginnings, it easy because you don’t necessarily need a huge capital base to start up. Linda ikeji blog for instance, was not built with a huge capital but with passion, dedication and persistence.
You have to learn how to get people’s attention to convert them into a community or loyal fan base. This requires little or no money.
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HOW TO START A MEDIA COMPANY IN NIGERIA
1. DECIDE ON THE TYPE OF MEDIA YOU WANT TO OPERATE:
There are different channels of mass communication; there are some outfits that wholly render the different services, while some render specific media services. Your choice may be affected by the availability of funds or experience.
Beginners are however advised to focus on a specific category before expanding if the desire arises. The different forms of media in Nigeria are:
Commonly referred to as traditional media, it involves the use of television and radio to broadcast messages to viewers and listeners.
It is an effective way of advertising and disseminating information to the public because these television and radio stations tend to have large listeners and viewers.
3. PRINT MEDIA:
This involves the use of print platforms like newspapers, magazines, fliers, posters etc it is also very effective for advertising and sharing public opinion, depending on the big the publications are.
This is involves the use of bill boards, mobile adverts, trade shows, events and kiosks, it is commonly used by big brands to publicise events, products and services. It is cost intensive and very common in Nigeria.
5. SOCIAL MEDIA:
This is a very effective way of reaching millions of people simultaneously by building followership and engaging them for feedback.
Facebook, twitter, YouTube, snap chat, instagram are all effective social media platforms for advertising to clients and for sharing information to shape the perception of the public on certain issues.
6. ONLINE ADVERTISING:
This involves the use of website, blogs and online magazines. Clients can advertise effectively on these platforms to expand or promote their nosiness. Other blogs may be centred on fashion, politics, health and other societal issues.
7. CONTEXTUAL ADVERTISING:
This involves the use of a pay per click or pay per permission generated ads to reach out to potential clients.
It requires registration with platforms that offer those ads and can be targeted to different countries depending on the target of the client. Google and Bing offer contextual advertising platforms.
8. PLAN YOUR BUSINESS:
Come up with a detailed, clear and concise plan that projects the operations of your business, its funding, profit making, marketing plan, your organisational structure and operational cost and every other relevant detail.
Your business plan should be professional ad comprehensible as you may be required to present it to potential investors.
Find out who your competitors are, study their strengths and weaknesses then find a way to distinguish your business from theirs.
9. CHOOSE AND REGISTER A NAME:
After deciding on the above, you need to choose a unique name under which your business will operate and be recognized. Register your name with the corporate affairs commission of Nigeria to make your outfit legitimate.
After which you can proceed to register with the association of advertising agencies in Nigeria and other relevant trademarks.
10. OPEN AN OFFICE:
You will need to operate from somewhere. The size and how you operate your office will depend on the kind of media outfit you run. Outdoor advertising, television and radio stations need medium office space and staff, same goes for newspaper and magazine publications.
A blog however requires little space with very few staff for a start, some bloggers do not even own outdoor offices, and they operate solely online because media business is internet savvy.
Running a media outfits by social media is equivalent to blogging, office space is not needed for a start. A website is a necessity for every media outfit, set up a user friendly website and make sure it features your portfolio, clients list and contact information.
You will need other things like laptops, internet connection. For an office space, furniture, digital equipment, adobe suite software and other professional tools are needed. After setting up your office, start by creating a list of potential customers and strategize on how to reach out to them.
10. HIRE LABOUR:
There is a need to hire people to handle your social media accounts, blog, build websites, and create designs and so on. Bigger offices like television and radio stations need mangers for production, marketing and operations, on air personalities, presenters, editors and adequate power supply.
While publications will need content writers, editors, graphic designers, printers etc. blog owners may need assistants, researchers and reporters who find out trends and report to them for blogging.
There is no way you can run a media outfit on your own because you can’t be everywhere at the same time. The media is wide and apt attention is needed to stay afloat.
11. MARKET YOUR BUSINESS:
Marketing is the life line of every successful business, the presence of stiff competition calls for aggressive marketing if one is determined to succeed.
Reach out potential customers and be able to convince them on the need and the effect of the Nigerian media on their goods, services and the reputation of their businesses.
Be professional and seek the right connections. Put out contents that will empower and magnetize your audience and watch your business grow.
You can promote your business by sponsoring key industry events, providing premium services and products, collaborating with other reputable outfits on relevant projects.
To set up a successful media outfit in Nigeria, you must passionate, diligent and consistent at putting out excellent contents that will set you apart from mediocrity.
I hope this article helps you achieve your goals of running a media outfit.Buy and Sell Bitcoin in Nigeria - Register for free on Luno
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