Why Digital Marketing is Developing Fast In Nigeria (Expert Analysis)
Nigeria; the most populous country in Africa with an estimated population of 200 million-plus. It has about 85.49 million internet users as of the First quarter of 2020. That is a huge market for advertisers (Digital marketers) and it keeps growing. Digital Marketing in Nigeria is on a rise with more and more businesses leveraging digital tools and channels to reach more audiences, generate leads, and convert new customers to sales.
According to a report by Datareportal, The number of internet users in Nigeria increased by 2.2 million (+2.6%) between 2019 and 2020. This means Nigeria can boast of a 42% percent internet penetration as of 2020. This may not be too bad considering the numerous challenges posed by the developing status of the country. It is noteworthy to add that Kenya has the highest level of internet penetration (84%) in Africa as of 2019.
So what is the fuss with Digital Marketing in Nigeria? Why is everyone going crazy about it?
First, we may need to look into the demography of Nigeria, particularly her internet users. According to Worldometer, The median age in Nigeria is 18.1 years. Young people are very active when it comes to internet-related activities. This is validated by the way Nigerian youths are fond of using SOCIAL MEDIA. There were 27.00 million social media users in Nigeria in January 2020. The number of social media users in Nigeria increased by 3.4 million (+14%) between April 2019 and January 2020. So brands and businesses understand this and the opportunities it presents. Most businesses are taking advantage of this by bringing their brand’s uniqueness to the teaming Nigerian Social media users. This includes SMEs and others alike. Top platforms in use include; Facebook, Instagram, Youtube, Twitter, and Linkedin. The relative cheapness and penetration that is afforded through the use of Social media to reach the desired audience make it a favorite.
The relative affordability of smartphones and Data
As of July 2020, there are 198,961,361 mobile connections in Nigeria. This rise is strongly connected to the fact that more smartphone brands are trooping into the country to meet the demands of the population. This has brought competition and hence allowed for affordability. The end result is that more and more Nigerians now have access to the internet. The implication of this from the digital marketing angle is that more users need to be served. This increased the necessity of devising more realistic strategies that brings each user onboard the virtual medium where they can be targeted. It is also important to note that data prices in Nigeria keep is getting cheaper, although not that cheap when you do a comparative analysis with other countries using different metrics. It is still reasonable with the different flexible plans introduced by the different carriers.
Digital Marketing is Cheaper when compared with Traditional Marketing
Many small businesses struggle with deciding which kind of marketing to adopt, This is due to the fact that their budget will only stretch to one or the other, not both. With marketing digitally, You can target a specific local audience (either in the local or International front). This can be done for as low as 500 Naira and even less. Further, you can tailor a campaign to specific audience demographics, such as gender, location, age and interests. This means your campaign will be more effective and less expensive. This made digital marketing a prime choice among start ups and SMEs in Nigeria.