EIRS Enumerates Marketing And Revenue Generation Strategies At ITV Retreat

              

    Participants at the ITV/Radio retreat

By Bernadette Idalu

Chairman, Taskforce on Internally Generated Revenue, Edo State Internal Revenue Service (EIRS), Hon. John Osagie Inegbedion on Tuesday, November 28, 2023, interacted with management staff of ITV/Radio at Camp Link Resort, Ogheghe, serenading them with vital points and growth analysis steps which was as music to their ears as they received pointers aimed at boosting their revenue base. 

The think tank of the media establishment whom had conglomerated at the resort for the retreat to chart endearing means to take their organization to an enviable height in the upcoming year had their appetite whetted by the robust interface with the EIRS chief who shared his experiences at the helm of the EIRS job based on application of requisite data and skills which he opined could boost visibility of the media house if applied with a remarkable content creation.

The resource person, represented by Head, Corporate Communications, EIRS, Mr. Courage Eboigbe, took participants on a revenue enlightening journey with the topic, "Marketing and Revenue Generation: A Digital Approach." 

Informing participants on the need to embrace emerging technologies, he observed that the contemporary media business world is plagued by rapid technological advancements which makes tech in prior use obsolete hence the need for media outfits to stay updated and adapt to changing consumer behavior. 

He encouraged the use of artificial intelligence, virtual reality and augmented reality which he observed, offered new ways of audience engagement and immersive experiences. By embracing these technologies, media outfits, he noted, can differentiate themselves from competitors and generate revenue through innovative and engaging content offerings.

The resource person elaborated on

the need to create innovative and engaging content to beat stiff competition by harnessing social media tools and platforms; coming up with programmes and content that give cutting edge over others, having an overwhelming audience reach and engagement through use of technology and upgrade of the stations mobile app to allow for  live transmission and broadcast, as well as viewing of news and programmes via phone, YouTube and other social media handles based on improved content development and production.

To emphasize the importance of job security he encouraged putting in place a reward system for staff even as he harped on the need to go networking with those who share same values.

Managing Director (MD) ITV/Radio, Engr. Elvis Obaseki told this reporter that the retreat was an opportunity to refreshen, reinvigorate and refocus towards tackling envisioned challenges of the upcoming year. 

The focus of the retreat, he said, was powered by the need to pick and focus on areas and issues people assume to be of no importance as "it is only with the right tools a broadcaster can break through, through use of the right methodology. 

"We looked at the profile of some of the ancillary issues around broadcasting such as revenue generation and the revenue service to have insight on how they grew their revenue base. The IGR performance scaled from a monthly average collection of N2.1b in 2020, N2.7b in 2021 to N3.7 in 2022 and N4.3b in 2023 translating into an annual collection of N45b in 2022 and over N50b by end of year 2023 thereby contributing to the development and sustainability of crucial public services and infrastructure," this he said, led to the invite of the revenue chief to give the media outlet a heads up which would enable them grasp ideas on how to monetize its own products.