AAAN, MIPAN, OAAN, others okay new Advertising Industry Standards of Practice guidelines

The Heads of Advertising Sectoral Groups (HASG) have endorsed the full implementation of the new Advertising Industry Standards of Practice (AISOP) guidelines, Punch Newspapers reports.

*Excerpts from press statement*

▪️New guidelines will not affect contracts signed before the effective implementation date, but explained that new contracts between advertising agencies, media houses and advertisers will be based on the new guidelines.

▪️Advertisers have the freedom to start the agency selection process with a large number of agencies and are at liberty to carry this out in stages.

▪️Payment of the pitch fee will apply from the final strategy stage of the selection process and limited to a few agencies depending on the advertisers’ capacity to pay.

▪️Media establishments are encouraged to engage stakeholders before any rate increase, taking into account that advertisers and agencies have numerous options of media channels.

▪️In the event of a post-engagement rate increase, the guidelines recommend the communication of a 30-day notice to clients/advertisers before implementation.

▪️Payment to media establishments, agencies, content producers, third party suppliers and service providers in the marketing communications industry should not exceed 45 days after campaign and must be on presentation of valid invoices to advertisers/agencies.

HASG stated that the new guidelines are in the industry’s best interest and he urged continuous engagement with ADVAN to gain its alignment and understanding of the need to support the industry and Micro, Small and Medium Enterprises (MSMEs), which constitute the bulk of the media houses, agencies and third-party suppliers/vendors.

The press statement was signed by the President, Association of Advertising Agencies of Nigeria @aaanofficial , Steve Babaeko; President, Media Independent Practitioners Association of Nigeria @mipan_official , Femi Adelusi; President, Outdoor Advertising Association of Nigeria @oaan_2020 , Emmanuel Ajufo and President, Experiential Marketers Association of Nigeria @exman.nigeria , Tunji Adeyinka.