How SMEs Can Take Advantage of Social Media Advertising for Scalability – Business Post Nigeria

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By Otori Emmanuel
For every company out there, there is an in-depth goal to increase its market share in both the local and global market space. The profit margin of a company is largely dependent on the audience at its disposal.
Before now, companies have used various forms of advertising to promote their product in order to reach their target audience, including traditional forms like newspaper publications and radio broadcasts. These ad methods delivered effective results until the masses moved to social media.
Currently, with over 3.7 billion people on different social media platforms engaging their times in ways that make them happy, every business should definitely have a cut of this mass audience as their potential customers.
With people of different demography, gender, age and behaviours all in the social media space, there is absolutely a guarantee that every company’s audience is represented in this space.
Amongst the various forms of advertising, social media ads have recently dominated the advertising sector. Companies have multiple options in the form of platforms which deliver massive results through the audience at their disposal, with Facebook alone having 2.9 billion active users on monthly intervals.
Also, there are over 10 social media platforms for individuals and organisations to choose from, including Facebook, Instagram, Twitter, Pinterest, etc, when choosing to promote their brands.
Social media advertising is very effective because of its conversion rate. On average, over 28% of users on the internet have agreed to make choices of brands and products when they see them as ads on the internet.
Over 80% of the United States population is using one or more social media platforms. This has worked for both sellers and buyers. For the buyer, it has created awareness of new products to choose from and updates on existing ones. The promoter or organisation gets the most out of it, as they get to increase sales conversion, grow audience reach, help to understudy competitors and boost brand image. However, this result is tied to how engaging the content is, using the right keywords for written content and clarity for video ads.
Also, deciding the type of content type to create for your ads is a key factor to be considered. Different ad types work differently for different niches and purposes. You could either use ad copy (written text) or use visual content.
Here are a few tips to consider when deciding which content type to go for: Consider what you’re trying to promote and then determine where on which platform your audience is more likely to be represented; What is the conversion rate of such a platform and then decide which content type would work better there between visuals and ad copy.
How to increase your conversion rate, consider these factors:
Study and categorize your audience based on their demographics, age, location and psychological factors influencing their behaviours towards brands.
Decide the type of ads that would deliver the result you seek.
Create compelling content that targets your desired audience using keywords that users can relate to. Place your ads in positions where they’re seen clearly.
 Create an appealing landing page with a brief description and a call to action icon to help your visitors make quick decisions. Link this landing page to your ad, and once people visit, swiftly collect their data and follow them as they are your prospective customers.
In conclusion, the result from an ad may not deliver the desired outcome the first time. But certainly, it will leave you with clues to help you improve on subsequent ones. Always track your ad performance and measure conversion rate by dividing conversion by the number of impressions and then multiplying it by 100. The formula is = Conversion/no of Impression * 100. This will help you know the ad or platform that delivered the most results.
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By Modupe Gbadeyanka
The Head of Public Relations and Communication at Jumia Nigeria, Mr Robert Awodu, will join other experts for the International Association for the Measurement and Evaluation of Communication (AMEC) Measurement Month in Nigeria, slated for Friday, November 25, 2022, from 12 pm to 1:30 pm.
This event is organised by the leading intelligence agency in Nigeria, P+ Measurement Services, in collaboration with AMEC.
A statement from P+ Measurement disclosed the theme of this highly-anticipated programme is Measurement and Evaluation: Why It Matters in today’s PR World.
Other panellists for this edition include Francois van Dyk, Head of Operations at Ornico in South Africa; Okusaga Mobolaji, Managing Consultant at Precise Platform in Nigeria; Thomas Stoeckle, Self-employed Consultant, and Educator; Lecturer at PR Academy UK, Bournemouth University UK and Quadriga University Berlin; and Consultant at communication agency Dot I/O Health.
The annual AMEC Measurement Month (#AMECMM) aims to enlighten PR and communications experts and professionals in Nigeria.
It was stated that the event, which will be held virtually on the Google Meet platform, is to inform Public Relations and Communication professionals about the significance of measurement and evaluation in the PR and media space, with industry experts analysing and offering insightful answers to the many unanswered questions in the industry.
AMEC Measurement Month is a free event that includes webinars, CEO conversations, workshops, and a lot more. It focuses on assisting PR and communications professionals in comprehending the value and significance of PR measurement.
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By Adedapo Adesanya
After about five months of its operations, SweepSouth Nigeria has announced plans to suspend its operations in the country from Friday, November 25, 2022.
In a notice seen by Business Post, the South African home cleaning service startup said the unfavourable macroeconomic environment has hit its business hard and has forced its hand to halt services.
“Due to the unfavourable global macroeconomic environment, the home service industry continues to be hit hard. This has meant that our business cannot sustainably operate due to the economic pressures being faced at the moment.”
It noted that the “difficult decision” would impact its loyal customers but noted that all services within the next three days would be handled while those after the set deadline would be cancelled with customers.
“This has been a difficult decision to make considering our passion to serve the Nigerian market. We know this decision will negatively impact our SweepSouth community and Sweepstars. Therefore, we ask for your support and understanding as we navigate this time.
“All bookings scheduled to take place between now and November 25th will remain in place. We will be cancelling all bookings scheduled to take place after November 25th, 2022 – customers will receive full refunds for any bookings that have been paid for in advance, and full refunds for Sweepcred loaded in customers’ accounts,” it added.
Despite its exit from the Nigerian market, the company said it would continue to provide its service in South Africa and Egypt, adding that it will continue to study the market for a possible re-entry in the future.
“While we will no longer be operating in Nigeria, we will continue to keep abreast of activities in the Nigerian market and work towards a potential re-entry into the market at a later date.”
The Johannesburg startup entered Nigeria in June 2022 to allow people to book home cleaning services at affordable prices and connects them with cleaners they call SweepStars, who are carefully vetted and are professionals with extensive experience in home cleaning.
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By Adedapo Adesanya
Nigeria’s retail market has so much potential, but while macroeconomic headwinds and currency volatility have weighed on consumer spending power in recent years, new opportunities for digitalised retail to facilitate the sale of essential goods remain.
To connect all existing parties in the supply chain, Mr Deepanker Rustagi, after spending decades in the country, founded OmniRetail, a subsidiary of OmniBiz.
Applying a different model, the company does not own warehouses, fleets, or products but rather brings distributors and logistics providers all online. Similar to Uber’s platform, OmniRetail brings manufacturers and small retailers together – unheard of in Nigeria, where only 30 per cent of goods are sold directly to consumers.
OmniRetail is an African B2B e-commerce platform for informal retailers and aims to increase retailers’ profitability 4x by helping them with procurement and inventory management and providing them with working capital.
One of the many declarations made to Business Post by the company is that it carries out a total transaction volume (TTV) of $1.3 billion yearly.
Mr Rustagi saw major retail companies like Walmart and Shoprite exit the African market and quickly learned that 90 per cent of Nigerian consumers shop at small informal retail stores.
He said, “Technology is solving deeply entrenched problems, and informal retail isn’t an exception. By embracing a technology-driven approach, OmniBiz is digitizing the informal essential goods ecosystem in Africa.
“OmniBiz collaborates with the supply chain stakeholders, from manufacturers to distributors, logistics providers, and retailers. We are building the future of African retail,” he told Business Post.
The OmniBiz CEO realized that if he could bring manufacturers, distributors, and retailers online on a single platform, he could double the size of Nigeria’s $41.7 billion FMCG sector.
The platform, which has over 131,000 Nigerian retailers (75 per cent of which are women-owned), gives rich data to all parties, something he claims that no one in African retail had before.
His opinion was echoed by Mr Adewale Adisa, the company’s Chief Operations Officer (COO), who noted in an interview that the company tapped into something that large retailers didn’t understand.
“We believe that if we can create a positive impact at the national level, it will eliminate many of the challenges faced by retailers. It will help rid Nigeria’s cash-heavy sector of the many problems associated with it and digitise the process.”
He explained that the company’s warehouses help make it deliver to key states in the country, adding that it has a logistics network that it hopes to expand by bringing in more retailers, partners, and players in the future.
Through the integration of its Mystore app, OmniBiz is able to facilitate the transactions between producers and retailers, a move to which it is adding the necessary value, including seeing how they can insure their goods.
The company has always positioned itself as a market leader, last year, it moved to tap into the Buy Now Pay Later (BNPL) wave to help businesses get credit options in a timely fashion to grow their businesses.
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