Newspapers can be divided into two categories: print and digital. Prior to the emergence of the digital version, there was a print or hard edition. Some media companies just offer online or digital versions, while others have both print and digital versions. Newspaper publishing should be operated as a business first and foremost in order to prevent needless intervention by the government, publishers, or other unseen parties. Media companies in Nigeria are primarily set up to accomplish a goal, which may be financial gain, public opinion control, or influence. However, publishers’ top priorities are influencing and controlling citizens’ thoughts.
There must be a mission and vision for the newspaper. Being “Nigeria’s number one quality newspaper” could be the mission. “Publishing vibrant and viable newspapers that will inform and form the nation’s political, business, and cultural elites and those who aspire to this class” could be the vision. Managers of media who read this could call a spontaneous staff meeting and urge them to write down the company’s vision and mission. He will probably be disappointed with the result.
Drivers of media companies need to become tough-minded, able to assess situations, organise information about a problem or difficulty, discover alternative solutions, and assess these options before making judgements about the outcome. SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis needs to be done thoroughly at every step. The nature of the demand for newspapers, its magnitude, the type of competition, the stages of the newspaper’s life cycle (introduction, growth, maturity, and decline), the firm’s financial resources, and the firm’s talents must all be taken into account. As a result, a number of options that are deserving of being taken into consideration as remedies for the opportunities’ challenges will be produced.
The promoters should be asking themselves the following important questions: what sets this media company apart from its rivals? Why should buyers pick newspaper A above others if they are forced to choose between them? These questions must be addressed, and the responses must be compelling. Here’s where slogans are useful. The biggest, the largest, the longest established, the freshest, the best, the most, the guaranteed, the perfect, the finest, the leading, the right, the highest, and the foremost are some of the most effective terms to use when trying to come up with a single, straightforward slogan that will set the media company apart from its rivals. According to the results of the scientific verification test conducted by AbingMO3 Marketing Management Consultancy, just one customer out of every 100 readers of the current newspapers was able to recall the slogan of his favourite publication. Although it may seem unlikely, worried media managers are able to conduct similar exercises, even if they are conducted at random.
The newspaper industry requires a lot of capital. It now costs millions of naira, if not billions, to start one. Given that banks are unable to grant loans without equivalent collateral, where would the typical person find that kind of money? Most of the time, people with that kind of money would be engaged in other kinds of enterprises that are beyond comprehension. They will now publish only certain things. Too many news items always end up becoming taboo for publications to cover inadequacies. To protect his interests, an investor will undoubtedly have a representative on the board. No matter how detrimental to the welfare of the country, that paper will never touch any information that would be damaging to the shareholders’ enterprises.
Almost all media companies today are arguably founded on political favour or funding. Current or former political office holders that have access to state funds own many newspapers. They can simply force governments’ agencies to patronize publications. Despite its practicality, if political money is used to establish a newspaper, it will be difficult to have a decent one. Political money is the only kind of funding available to start a “profitable” media company in modern-day Nigeria. How many of them have the audacity to publish critiques of the companies or the positions of any of the owners?
The media industry is all about people. It involves figuring out what people want and then attempting to supply it to them at a price that both meets their needs and allows the business to make a respectable profit. It all comes down to targeting or carefully selecting which customers to please. It all comes down to positioning: creating a newspaper with features that readers want and can’t find elsewhere, then establishing a solid reputation or brand. It basically involves consistent, reliable news stories, advertising, pricing, distribution, promotion, and other marketing initiatives. One truly cannot know how to properly advertise, price, promote, or distribute the newspaper if they do not know who they want to sell to and what they want to give them.
A great price, a handy location, and an intriguing offer won’t save a newspaper if it isn’t made to satisfy the needs of its readers. Although strategy and tactics are both a part of media marketing, strategy must come first. The newspaper will eventually collapse if the strategy is flawed, regardless of how well the advertising, sales, distribution, or price are done. In fact, the more effective the tactics, the quicker a poor newspaper will disappear.
The newspaper’s design, the publication of objective news, the comprehension of customers, the identification and targeting of market segments, the positioning of the newspaper, the building of the brand, the organization’s capabilities, the competitors, and the macroenvironment are all examples of strategic areas. Advertising, packaging, public relations, internet marketing, sales promotion, pricing, distribution, and customer service are all considered tactical areas.
The manner newspapers are packaged should be such that they cater to various readership types. The only way to accomplish this is through liberal editorial policy. In addition to producing sharp, original, and reliable news every day, the calibre of reporting must be planned to make the newspapers one of the most sought-after dailies. Additionally, each day of the week should have its own dedicated sections with very valuable material. The newspaper should be planned to become a one-stop shop for news and information, and a top choice for readers looking for information.
Consumers act in accordance with their own opinions on newspapers rather than those of media managers. Perceived value is not the charged price but the ceiling on the charged price. It is possible to quantify and estimate perceived worth in monetary terms. Sales, profitability, and cash flow all increase with the newspaper’s perceived value.
At this point, a mediapreneur should consider the following: what do my readers want from my publication? Am I aiming for the correct customers? What special advantage does my publication offer its readers that they can’t find elsewhere? Consider any of Nigeria’s current newspapers. Do they have any unique reputations? If not, they are providing the market with commodities—the worst word in marketing. A newspaper is a commodity if it lacks any unique features. A newspaper cannot be everything to everyone, but it is preferable to focus efforts on the intended audience.
Until a newspaper’s integrity is put to the test, it is getting harder to recommend it. A South-West governor was to be impeached due to a certificate controversy in the early years of the current democratic dispensation. The information was minimised by a specific newspaper that is thought to be the most outspoken and brave. This ran counter to its position when Salisu Ibrahim was embroiled in an age scandal before his unsuccessful bid to emerge as the speaker of the House of Representatives. The state government’s advertorial patronage served as the foundation for the management’s choice. The senior establishment hierarchy declared in a policy statement that news stories about impeachment should not appear in newspapers. Nonetheless, the cover pages featured extravagant publications of solidarity visits to the governor. The governor eventually completed his term in office. A forensic analysis will reveal that more than 70% of Nigerian newspapers’ revenue comes from governments and their agencies. This is on top of media mentioning for fees by politicians.
As much as the sector is dominated by misguided idealism, success requires well-thought-out plans and well-executed approaches. The media industry differs from trade in that it involves more than just buying, selling, and profiting. Managers of the media should refrain from interfering with corrupt corporate entities and politicians. To increase market performance, media companies should consistently work to improve quality, provide a compelling value offer, build strong brand equity, and implement result-driven programs.
In summary, more journalists should become newspaper men. Our vast population and diversity should be used to their advantage. Nonetheless, media managers who believed they understood what their customers wanted but actually did not were responsible for a number of significant and well-known media business catastrophes. Regretfully, those managers lost their jobs and possibly millions of naira as a result of their faults in not understanding what their customers wanted.
Ayankunbi writes from Lagos
Published on July 26, 2025.
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