“…with an estimated population of 203.6 million as of 2021 and 50% of them connected to the internet, Nigeria’s digital marketing industry has huge potential”.
All screens are going digital! This was demonstrated on Wednesday July 06, 2022 in Lagos (Nigeria) at Eskimi CMO Masterclass; speakers, panelists and participants unanimously agreed that brands in Nigeria must focus on the right Key Performance Indicators (KPIs) while embracing programmatic solutions to to achieve their marketing goals.
Eskimi is Nigeria’s largest Programmatic platform; an ad-tech platform that enables independent brands and agencies to conduct programmatic advertising campaigns across display, native, video, etc.
Vita Garifulina, Business Development Director, Eskimi, delivered the keynote address; stressing that startups and other budding entrepreneurs should learn from industry leaders in the telecommunications, FCMG, retail and device brands that are leveraging Eskimi’s metrics to drive marketing measurement in the areas of consumer awareness, interest, engagement and actions.
These, she said, can be achieved through access to real-time data, focus on the right KPIs and making data actionable.
Statistics-wise, Garifulina said that with an estimated population of 203.6 million as of 2021 and 50% of them connected to the internet, Nigeria’s digital marketing industry has huge potential.
According to the Statista 2021 report shared by Eskimi, Nigeria has 169.2 mobile phone connections representing about 83% of the population. Forty-two per cent (42%) use the internet representing 85.49 million people, while 27% of them are on social media.
Speaking on the significance of the Eskimi CMO Masterclass, Garifulina said, “Eskimi has observed trends in the market and its potentials. We thought it is important to share the data with Chief Marketing Officers (CMOs) and brands.
“So, the masterclass was just about learning a little bit more about marketing and digital marketing, specifically. So, as a global company, we work differently and we believe in knowledge sharing. We want the local businesses or markets to adapt the new knowledge and the experience basically and we want to localize it to a Nigerian market. And this is why we want to bring some local trends, global trends, and then also like, adapt and help marketing professionals, digital professionals; everyone who is in the space to actually grow and bring the best out of their marketing strategies.
What are some of these trends you’re seeing in Nigeria?
In Nigeria, so basically, we have like a population of more than 200 million, and half of those people are online. This means that if your marketing strategy is based on online advertising, it means that you can reach a lot of people. Also, a lot of people are using mobile phones. Mobile or online advertising is just kind of very important.
“This is just like one of the takeaways and then compared to social media, only 27% of people are on social media. So it means that if you are building your digital advertising strategy, it cannot be based on just social advertising”.
She added that the company will continue to assist brands leverage digital advertising to achieve their marketing goals.
Business leader with marketing expertise, Lampe Omoyele; the Managing Director, Nitro121 in his presentation at the Eskimi CMO Masterclass titled ‘Marketing in a Digital World: The Path to Business Growth & Sustainability’, must not fail to understand the underlying keywords in the definition of marketing which he described as “The identification or anticipation and fulfilment of customer needs and/or wants profitably”.
Omoyele who doubles as the Partner, Lucent Consulting Company explained further thus: “Marketing strategy, therefore, is the matrix of mutually reinforcing actions that help to differentiate a brand in the minds of target customers and profitably meet customer needs, or create wants”.
“Marketing in the digital world implies: ‘Today’s consumer is more connected than ever, with more access to and deeper engagement with content and brands, due to the proliferation of digital devices and platforms.
“Content that was once only available to consumers via specific methods of delivery (such as via print, radio and broadcast television) can now be sourced and delivered to consumers through multiple connected devices.
“This is driving the media revolution and blurring traditional media definitions. Innovation in advertising will be critical for success”, Omoyele listed among Top 100 Most Influential Global Marketing Leader, 2018 (World Marketing Congress), told participants at the Eskimi CMO Masterclass, stressing that marketing & advertising in a digital world will require skilled marketing teams to innovate, interpret data for insights, engage with customers and communicate the latest marketing trends in order to develop effective marketing strategy.
What are the digital marketing trends we are seeing in Nigeria?
“Digital marketing and its localization in Nigeria is growing. So, in the past 10 years there has been significant growth. So, more and more businesses and brands are utilizing it; the competences and capabilities around marketing are growing. Thus, digital marketing is no longer just about social media, but is now also why you have different dimensions and perspectives around marketing.
“The trend around social media is growing, but we also get into the space of where there’s a high level of influence on marketing. We are getting to the point where you’re talking about programmatic advertising, Virtual Reality, augmented reality; so different tools come into play in Nigeria.
Have we made a lot of progress?
“I was talking about data analytics, or utilization of data. So, while there has been some progress, I think the progress needs to be accelerated in terms of not just the availability of data, but the ability of using the data to make informed decisions. I’m also talking about how we mine data and how we generate insights that are actionable.
When asked about the future of digital marketing in Nigeria, Oluwatobi Adekunle, Marketing Manager, Eskimi Africa, said: “So, it’s like asking; what is the future of marketing in Nigeria, because digital marketing simply means application of digital technology in marketing.
So, it means that marketing has evolved from traditional marketing to a new era, which involves leveraging digital tools and technology in driving markets and activities. Therefore, as long as technology is evolving; as long as there is an advancement and improvement in technology, there will always be the internet.
“So, digital marketing is not going to end. It can evolve as a profession; thus, as long as we have new tools, as long as we have people coming up with different technologies, to drive marketing initiatives and activities, digital marketing activities will always remain for digital marketers.
He said that Eskimi believes in the Nigerian economy “and that is why we will continue to educate people”.
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