H&T- A Strategic Partnership In Nigeria’s Advertising Sector (Watch Video)
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The Tempo Company and The Hook Creative Agency joined forces at a special launch ceremony of a Strategic Partnership Special Purpose Vehicle, SPV between the two agencies on Friday July 1, 2022 in Lagos.
The SPV is an alignment of creative forces to help drive growth for the advertising sector and stakeholders.
There had been a wave of affiliations and partnerships in the Nigerian advertising landscape in the last two decades. A school of thought existed on the subject among practitioners.
Some professionals held strongly to the view that affiliation or strategic partnership will spark growth and development within the industry.
Strategic partnership are formal agreements between complementary economic ventures that are formed in order to build stronger market positions for the participating parties.
Stakeholders like Sam Ochonma and Toheeb Dele Balogun, Partners at the new H&T Partnership agree that Strategic Partnerships leave impressive impact.
Because this strategy has been so beneficial for firms in the advertising sector that are participating in partnerships, it has become a regular part of modern-day business plans.
Akinwale Muse and Idris Olorunnimbe are partners in the Hook and Temple partnership. There shared their outlook on their new collaboration.
Stakeholders say if you are looking for a win-win situation that benefits both sides, then a strategic partnership could be the way to go.
They also said strategic partnerships helps to build collaboration opportunities and longevity of the enterprises as well.
Idris Olorunnimbe – Founder, The Temple Agency
Sam Ochonma- MD, The Hook Agency
Akinwale Muse – Co-Founder, The Hook Agency
Toheeb Dele Balogun – Co-Founder, The Hook Agency