Telecom
The Online Retail Explosion Represents a Massive Opportunity for Advertisers
By Tintin Imevbore, Regional West Africa Manager, Ad Dynamo by Aleph
Over the past few years, spurred by the COVID-19 pandemic and its associated lockdowns, online retail has witnessed an African explosion. Faced with stay-at-home orders, many people started shopping online for the first time, while experienced shoppers increased their purchases. Those behaviours have largely stuck too.
Take Nigeria, for example. In 2021, its e-commerce market grew by 30%,and in the years leading up to 2027, e-commerce revenues are expected to grow 11.31% annually. By that point, the sector (currently worth US$7.63 billion) is expected to be worth US$11.71 billion.
It’s clear then that anyone interested in growing their retail presence should have some form of e-commerce offering (even if it’s just having a presence on a third-party marketplace). But growth in the sector doesn’t just hold promise for anyone selling products or services online. It also represents a significant opportunity for digital advertisers.
Be where your customers are
One of the biggest benefits that online retail offers advertisers is visibility. A large platform like Jumia, for example, can see more than 10 million unique visitors a day. That’s a lot of people. Beyond sheer volume though, they’re also people who are looking to spend money. Even if they’re just browsing today, chances are they’re on those sites looking to buy something at some point.
It’s also worth pointing out that people browsing online stores spend much more time on them than on other websites. On average, people spend between 45 and 54 seconds on a website. By contrast, people can spend more than seven minutes at a time on the world’s biggest e-commerce sites.
That means that if you’re advertising on the right e-commerce platforms, your product or service will be seen by a large number of people, and those people will also be exposed to it in a setting where they are not restricted to time since online shopping is usually a leisure-based activity, meaning that people are going to do it after work hours or on the weekend. The fact that most big online retailers break their sites up into sections also makes it easier for potential customers to see advertising that’s most relevant to them.
Given that one of the key tenets of online advertising is reaching the right people with the right message at the right time, there’s clearly a strong case to be made for advertising on e-commerce stores then.
Partner with experts
It is worth noting, of course, that advertising isn’t the primary revenue source for any e-commerce platform (although Jumia’s advertising offering recently overtook fulfilment as a revenue source). That means they’re less likely to have the same seamless, plug-and-play advertising solutions that many of the biggest social media platforms have.
As a result, it’s even more critical to work with media representation partners who can ensure your product or service is seen as much as possible by your target audience. The right media representation partner should also offer transparent pricing and be able to help with brand strategy.
They will also ensure that any advertising you do on an e-commerce platform is tailored to that specific platform while complementing your advertising efforts on other channels. You don’t have to be a major advertiser to enjoy those benefits either. A good partner will work with the rates you can afford and grow with you as you expand.
Embrace consumer shifts
Ultimately, if businesses are to be successful, they need to understand and embrace shifts in consumer behaviour. And there are few shifts as significant and as fast as the move to online shopping since the pandemic. It’s also crucial for businesses to follow those shifts holistically.
This means not just having an online retail presence but also utilising online retailers as advertising platforms. Finally, it’s critical for businesses to realise they don’t have to take that journey alone and can potentially see much greater degrees of success by engaging with the right partners.
Telecom
How Artificial Intelligence is Revolutionizing Business Plans for Entrepreneurs
In today’s fast-paced business world, writing a comprehensive business plan can feel overwhelming for entrepreneurs. However, with the advancement of Artificial Intelligence (AI), this process is becoming more efficient and accessible. This guide shows how to use AI tools to create a business plan for your idea.
Think of AI as your digital assistant, speeding up the first draft so you have more time to make it better. AI gives you a structure, but your own ideas and understanding of your business makes the plan unique.
Embrace AI in Business Planning – Before you begin, you should know what goes into a business plan: a summary of your business, details about your company and offerings, and information about your market and competitors. You may also consider creating plans for your business sales, management, operations, and finances.
Gather all your business details first. This makes it easier for AI to help you turn them into a plan.
Feeding Information to AI – Start by providing a general overview of your business, including its name, target market, products or services, and financial projections. GoDaddy is sharing a prompt template below that can be used to provide information:
“I’m developing a business plan for my company, [company name], a [industry] startup offering [product/service]. Please accept the information below about my company as a basis for developing a strong business plan.”
Creating Sections with AI Help – Breaking your business plan into sections and using specific prompts for each can streamline the process. AI can generate initial drafts for each part, which you can then review and edit. Here are some prompts to help guide you:
1. Summary and Company Description:
- “As a successful entrepreneur and seasoned strategist, draft an enticing executive summary and company description for [company name] in the [industry] sector.”
2. Products and Services:
- “As an innovative product developer, provide a comprehensive description of [product/service] offered by my company.”
3. Market Analysis:
- “As a market analyst, outline a detailed market analysis for [company name].”
4. Competitive Analysis:
- “Compile a concise competitive analysis for [company name], highlighting the strengths and weaknesses of key competitors.”
5. Marketing and Sales Plan:
- “Create a thorough sales and marketing plan for [company name], including a detailed growth strategy.”
6. Value Proposition:
- “Assume the perspective of a potential customer and identify the unique selling proposition of [company name].”
7. Ownership and Management Plan:
- “Outline the optimal structure, ownership, and management roles for [company name].”
8. Operating Plan:
- “Craft an efficient operating plan for [company name], detailing infrastructure and risk management.”
9. Financial Plan:
- “Develop a comprehensive financial overview and funding request for [company name], including income statements and sales forecasts.”
10. Extra Information:
- This is where you can add any extra details like research or visuals.
Finalizing Your Plan – Once you have drafts for each part, it’s time to make it all fit together nicely. Your business plan should clearly show what your business is about and its path to success.
Getting Feedback from AI – After refining your draft, ask AI to check for any missing parts, mistakes or inconsistencies. This is a good time for AI to help create a summary, mission statement, vision, values, and value proposition to ensure alignment with your business goals.
Make a One-Page Plan – Lastly, create a simple one-page version of your business plan. It should include all the important points and be easy to understand. This step ensures clarity and focus, making it easier to communicate your business strategy to stakeholders. Remember, while AI helps a lot, it does not replace the ingenuity and oversight of human input to help ensure your unique business ideas are being reflected in your plan.
AI can be a helpful tool for creating and growing your business’ digital presence. With GoDaddy Airo, an AI powered experience, you can embrace AI to streamline your business planning and operations, allowing you more time to focus on turning your entrepreneurial dreams into reality.
Telecom
Group Advocates for Digital Rights at 2024 Internet Governance Forum
Paradigm Initiative (PIN), a leading pan-African organisation dedicated to advancing digital rights and inclusion in the Global South, has made significant contributions to the just-concluded 2024 Internet Governance Forum (IGF) in Riyadh, Saudi Arabia.
PIN’s participation in the prestigious global event underscores the organisation’s commitment to fostering inclusive digital policies and ensuring that Africa’s voices are central in global discussions about the future of the internet.
During the week-long forum, PIN team members played key roles in numerous sessions, emphasising the importance of a digital rights perspective in the development of emerging technologies, advocating for a more inclusive digital future, and addressing the specific challenges the African continent faces in terms of digital access and inclusion.
PIN Executive Director, ‘Gbenga Sesan, spoke at high-profile sessions, including the Leadership Panel on ‘The Internet We Want’, which outlined the vision for a global internet that is accessible, secure, and inclusive.
At the Africa Youth IGF Parley, ‘Gbenga provided a platform for young Africans to address pressing issues such as internet restrictions, the digital divide, and digital rights violations.
Adeboye Adegoke, Senior Manager for Grants and Programmes Strategy at Paradigm Initiative, contributed to Open Forum #12, advocating for policies that ensure a rights-respecting and inclusive digital future. His discussions highlighted the importance of policies that place human rights at the core of technological advancements.
Ihueze Nwobilor, Senior Programmes Officer, spoke at the session, ‘A Rights-Respecting Approach to Emerging Tech Development,’ where he called for the prioritisation of human rights in the development and deployment of emerging technologies across Africa and beyond.
The organisation’s Senior Manager for Partnerships and Engagements, Thobekile Matimbe, shared valuable insights during the ‘Better Products and Policies Through Stakeholder Engagement’ session.
She emphasized the role of the private sector in engaging with local communities to ensure that digital products and policies are inclusive and meet the needs of vulnerable groups across Africa.
Bridgette Ndlovu, PIN Partnerships and Engagements Officer, moderated a session on ‘Implementation of the USF in 26 African Countries,’ where she and other speakers, including ‘Gbenga Sesan, discussed the crucial role of Universal Service Funds (USF) in advancing digital inclusion, particularly in underserved and rural areas.
PIN’s participation at IGF 2024 has been an important moment for advocating digital rights in Africa. “Paradigm Initiative’s participation was a powerful reminder that Africa’s digital future must be shaped by inclusive, rights-respecting policies.
“Our participation at the IGF is a continuous demonstration of the need for all stakeholders to collaborate in building a more inclusive and accessible internet for everyone, especially those in under-served communities,” PIN Executive Director, ‘Gbenga Sesan stated.
Telecom
Patricia Technologies Begins Repayments to Customers Affected by 2022 Security Breach
Lagos-based financial technology firm Patricia Technologies has commenced repayments to customers impacted by a 2022 security breach. This follows a two-year period where the company focused on recovering funds and rebuilding trust.
In 2022, Patricia experienced a significant cyberattack, resulting in the loss of over 600 million Naira from customer accounts. Following the breach, the company temporarily restricted withdrawals and collaborated with law enforcement, leading to the arrest of several suspects, including a prominent politician.
Patricia had previously requested a two-to-five-year repayment window, a plan that has now begun to be implemented. The company has started disbursing funds to affected customers in phases, with the first batch of payments initiated on December 10, 2024.
CEO Hanu Fejiro emphasized the company’s commitment to its customers, stating, “This repayment process represents a milestone in fulfilling our promise to make things right.”
He encouraged customers to update their information on the Patricia platform and monitor official channels for further updates on their individual repayment timelines.
Subscribers who are getting paid in this phase have since been officially notified by email. One of the subscribers, with initials BP (for purposes of confidentiality), expressed appreciation and satisfaction with being paid by Patricia via an email reaction: “I really appreciate your effort. Though it took a long time, I’m satisfied with what I’ve received. Thank you for keeping to your words.”
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