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With inflation squeezing marketing budgets, Nigerian companies are being urged to embrace stricter data discipline and tighter collaboration between agencies and internal teams to unlock real value from digital spending.
This message dominated discussions at the Leadway Digital Growth Summit, where speakers argued that digital investments continue to underperform largely because many firms still cannot track what actually drives revenue.
CEO of Intense Group, Leye Makanjuola said too many organisations plunge into digital campaigns without defining the financial outcomes they expect.
“The biggest mistake is not being data-focused,” he said. “You need to know how much it should cost to acquire a customer and ensure you’re not spending above that threshold.”
Makanjuola stressed that sustainable revenue growth depends on transparency between corporate teams and their agencies, noting that neither side can deliver meaningful ROI in isolation.
He added that digital’s share of revenue in large organisations remains modest for now, but its influence on consumer buying decisions is rising quickly.
“In the next few years to a decade, digital will be the way people make buying decisions and purchases,” he said.
Addressing concerns, Senior Client Partner at Aleph, Timilehin Oyedeji said Nigeria’s demographics and expanding online access make digital channels indispensable for modern customer acquisition.
Speaking on the Demand-side data presented at the event, he reinforced the need for growth potential.
“Nigeria is a market of over 220 million people with more than 50% internet penetration,” he noted, adding that platforms like TikTok deliver roughly 35% cheaper customer acquisition costs.
Oyedeji said stronger ROI depends on better signals, automation, and multi-channel engagement. According to him, brands that refuse to consolidate data or personalise customer journeys will struggle as consumers glide across multiple digital environments before making purchase decisions.
“Better signals mean better optimisation,” he warned. For Leadway Holdings, improving ROI starts with breaking down internal silos.
For her part, Head of Digital Business, Diana Mulili said the group is moving from traditional campaigns to performance-driven execution across all subsidiaries.
“We want to scale our digital business across the group and move from traditional advertising into performance marketing,” she said.
She explained that Leadway plans to leverage the brand equity of Leadway Assurance to boost awareness and conversion across other business units.
Mulili added that by 2026, the group aims to operate a fully integrated digital ecosystem that enables customers to access multiple products on one platform; a move she believes will streamline conversion and strengthen measurable revenue outcomes.
Head of Innovation at Intense Group, Misan Arenyeka underscored the need for companies to actively track bottom-funnel metrics and ensure their internal processes support data-led decision-making.
He said digital engagement is already helping Leadway pinpoint the most effective channels, not just from a cost-per-lead standpoint, but based on cost per paying customer.
“The more we track and measure every single thing that happens, the closer we get to our goals,” he said.
