In an inevitable move, OLX, Kenya’s largest online classified platform has adjusted their paid ads structure by introducing banner advertising. This means that businesses will now be allowed to create banner ads which will then be placed on the site’s main pages to increase the visibility of their products or services.
In 2016, the platform had introduced paid ads on the platform in the form of premium listings (Top Ads). These ads ensure that your listing stays on top in the category/page that it is placed in for a period of time. Like any other ads, these premium listings ensure that visitors always see them when they visit specific pages. For premium listings, you also need to have posted an item on the platform before you can pay for its sponsorship. With the new banner ads, OLX is allowing businesses and interested parties to place adverts on the front page of the site without having to post an item on the site.
For the premium listings, users had to pay between Ksh 999 up to Ksh 5499 for placements. They also have featured placements that go up to Ksh 18000 for 30 days. Companies keen on high visibility, awareness and exposure through the platform will have to pay a minimum of Ksh 100,000 for a period of 30 days. This is clearly a move to attract larger companies and private entities to take advantage of the high traffic that frequents the OLX site. These were sentiments echoed by OLX country manager, Peter Ndiang’ui.
He further went on to state:
“OLX is a high traffic site with over 2 million visitors a month and a great place for these organizations given the number of visitors who come to the site on a monthly basis. All users who visit our site already have intent to purchase and these ads will be strategically placed to target these specific users at their point of purchase. This then allows the businesses to select targeted audiences whom they wish to have them see these adverts. For instance, if you are a business seeking to offer loans to car buyers, the vehicle category will be best suited for you.”
With the new monetization service, businesses can select the target audience they want to view their ads, giving them a real opportunity to reap maximum returns from the placements by attracting the right leads.
With well over 100,000 daily users, it will be interesting to see which brands take advantage of this new advertising option.
