Business owners and entrepreneurs have been advised to harness varying digital and physical platforms to promote their brands, as it tends to increase the economic strength of the city and Oyo state at large.
This was discussed on Wednesday, at the American Corner, Ibadan, during the launch of the Ibadan business magazine, which had in attendance, stakeholders in the business and creative industry.
The chairman of the event, Mr Tokunbo James, who is a member of the governing council of the Kola-Daisi University, Ibadan, described the initiative as a much-needed one and also as one that is long overdue, given the booming economic growth in Ibadan
“With the rate of economic and commercial development here, I think it’s long overdue,” he said.
The magazine reviewer, Mr Sola Aleshin, commended the production of the magazine as he gave kudos to the publisher, printing team and contributors for their efforts in the release of the latest edition; thereby, boasting of his belief in the sustenance and relevance of the magazine, in years to come.
The keynote speaker, Dr Adeniyi Atiba, advised business owners to ensure they invest 30 per cent of their profits into adverts, as he believes it is the business that is the talk of the town people engage with.
Speaking about the magazine, he admonished people in business in the city and prospective business owners to seek engagement with the magazine, owing to its reach and the class of businesses on it.
He said: “The more I started doing business, I discovered that it’s just important to actually make noise about what you do. It’s not the best businesses that actually are the most profitable; it is the loudest businesses, the ones that talk more about what they do. So it just makes sense to invest a minimum of 30% of our profit on adverts.”
The former NAWOJ chairperson, Mrs Bisi Yomi-Layinka, who’s the special guest of honour, also commended the magazine, describing it as “a good venture, as Ibadan now has a business magazine of its own.”
In his words, the publisher of Ibadan Business Magazine, Mr Deji Morakinyo, who doubles as the CEO of Tigmor Network, said the idea behind the magazine production was borne out of the need to showcase Ibadan businesses in and around to the global audience.
According to him, “Ibadan has up to 12 million people and by translation, it means it has offerings for different strata of business. So it means if you’re dealing with low-income or middle-income earners, you have enough people to sell to.
“We’re providing a platform for people to showcase what they do. We also engage a lot of other people in partnership, which is what we do differently.
“For every edition, we have an industry focus, in our next edition, we’ll be focusing on business financing, especially for small and medium enterprises in Nigeria and every part of Africa. We want to show how people can access, manage and recycle funds for capital businesses,” he added.
He, however, disclosed that the editions of the magazine will be released quarterly.
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