In light of increasing exchange rates, most advertisers in Nigeria incur huge costs when they pay for their ads in dollars.
To mitigate this challenge, Nigeria’s leading programmatic ad platform Eskimi has announced the implementation of currency rate calculations and other financial measures to help advertisers buy inventories at lower prices.
“The whole programmatic system in the world is being transacted in USD; however, we have found that there are a lot of possibilities in price, and we have been able to achieve a certain level of pricing using pricing algorithms,” Eskimi CEO Vytautas Paukstys said.
Paukstys who made this disclosure at the Eskimi Workshop which was introduced to facilitate brand and agency interaction, explore programmatic ad possibilities, and help brands and agencies navigate through specific changes to pricing algorithms, explained that this move was initiated to combine inventories( international and local) into better rates for publishers and advertisers.
“The newly changed algorithm will not only allow the system to transact in dollars, but will also be working together in Naira; when we started working here, the naira was 200 to a dollar, and very recently the naira hit 860; so, with this challenge naturally when you buy international inventories the price increases. so what we have done is with the new price in the algorithm we have achieved much lower prices compared to the ones we had at the start of the year. We started on an average rate of about N350, and we have been able to choose the reflection of the price, reaching the same broad audiences up to the level of N120- N150.”
While reiterating the company’s commitment to the continuous delivery of unmatched products, services and experiences to clients and consumers, Paukstys shared: “What we have done now which has resulted in around 100% decrease in price is a combination of algorithm changes, blending the rates between dollars and local inventories, the Nigerian naira and then together adding as well that financial instrument that allows us to secure the rates for a longer period of time. So for instance we have international gaming gaps, and there’s no other way to buy that inventory except in dollars. But we have a lot of local websites where you can actually buy those inventories in Naira and then transact with those publishers in Naira.”
