Tag: platforms

  • Etisalat, Google urge SMEs to explore e-commerce platforms

    Etisalat and Google have urged Small and Medium Enterprises (SMEs) and start-up businesses in the country to embrace electronic or e-commerce model of business to boost their capacity and efficiency.

    Head, Enterprise Marketing at Etisalat, Bidemi Ladipo who spoke in Lagos said start-up businesses and SMEs would benefit immensely from having online presence because it is a cost effective and a faster way to increase reach.

    Ladipo who spoke on the Role of Mobile Penetration in Online Commerce at Webmall Connect Commerce Conference sponsored by the telco said out of the over 150 million active GSM lines in Nigeria, 89 million of the subscribers use the internet with 75 per cent of these having access to the internet via mobile devices.

    He said: “Having your businesses on the digital space offers you lots of advantage; it reduces your overhead and increases your visibility and reach. At Etisalat, we are committed to offering quality of service both in voice and data, and continuously provide solutions that help enterprises and startups grow and sustainable.”

    He also stated that as part of efforts aimed at encouraging SMEs to connect their businesses online, Etisalat offers affordable and fastest internet data service and voice service including the Close User Group (CUG) platform to bring down cost on calls and data usage.

    Also speaking on the occasion, Head, Business Development, Google Nigeria, Jola Aderemi-Makinde expressed delighted that more businesses in Nigeria are embracing digital applications. She assured that Google remained committed to helping SMEs grow, leveraging on the internet as platform.

    She said: “Our focus now is to help local businesses succeed online. There are different tools available to SMEs for them to achieve their business objectives. Startups and SMEs should take advantage of these tools to expand their businesses.”

    Managing Director, Webmall, Wole Faroun said the digital space offers SMEs and startup businesses numerous opportunities to grow and expand exponentially.

    “Three years back, awareness and knowledge about e-commerce were not as high as it is today; now more people know about e-commerce although the full potential of the e-business model has yet to be fully appreciated. e-commerce offers huge potentials than we are benefiting now,” he said during a panel discussion.

     

     

  • Pains of e-commerce platforms users

    Pains of e-commerce platforms users

    The pains of e-commerce consumers are growing daily just as brand reputation of e-commerce sites are dwindling. With losses by users, e-commerce platforms have continued to up the ante to protect consumers, writes ADEDEJI ADEMIGBUJI.

    The growing e-commerce industry in Nigeria has led to an increase in online transactions in the country, despite that the trend  has been inundated with reported cases  of fraudulent activities, hacking of customers credit cards.

    The case of Orekoya’s family whose children were kidnapped by an househelp sourced through a popular e-commerce site cannot be forgotten in a hurry. Yet, with many cases reported daily at various police formations acrosss the country, the value of e-commerce has grown monumentally.

    A report from the Central Bank of Nigeria (CBN) in February showed that the value of Nigeria’s electronic e-payments rose from N18.1 trillion in 2012 to N35.1trillion last year.

    With its convinience, ease of transaction and product choices offered, e-commerce sites have continued to attract more users. Many businessmen and others are tapping into the budding industry.

    However, experts say some are still skeptical about using online platforms, especially, virtual malls.

    “This is because they have either been badly burnt in some of their  e-transactions or had heard stories from others concerning the situation,” says Badru Momoh, an e-commerce enthusiast.

    Meanwhile, an analysis of e-payment frauds by the Nigeria Interbank Settlement System  (NIBSS) last year showed that there was a significant rise of 78 per cent in the volume of fraudulent cases between 2013 and 2014. Therefore, it is understandable why there are fears among users and prospective users, despite the boom in the sector.

    Recently, one of the victims of e-commerce fraud, Mr Okechukwu Chibuike, narrated how he almost lost his business because of an e-commerce transaction gone awry.

    Chibuike started the business of buying and selling of cars as soon as he acquired enough capital to fund the venture offline. But later fell for a scam when he tried buying via an e-commerce site which he failed to mention.

    “I thought I had made it big when my first container arrived and I sold my first series of cars. It was like a dream come true, especially, when I started getting returns on my investment. From then on, I worked hard to build my business into a big enterprise.  “After some years, I heard about an opportunity to sell and buy cars through online platform. At first I was sceptical about online transactions because I had heard stories about Yahoo boys or 419 guys. I was, particularly, careful not to become a victim of their tricks. From the tales I had heard, the conmen’s tactics were to lure unsuspecting people to send money to the swindlers via Western Union Money transfer or to use magical methods, popularly known as Juju, to catch their victims. This bolstered my resolve to be vigilant of such traps.

    “Nevertheless, when I heard about one of the online platforms, I shelved my doubts and I was very interested in giving it a trial. I had heard that I could reach a broader audience through this platform and that I could put my cars up for sale and buy from other sellers who have cheaper cars. I decided to experiment with the platform by buying a product from its network and that was when my problems started,” he said.

    However, he was later shocked when  he saw a 2010 Toyota Camry model that was advertised for N1.5 million.

    “I thought it was a fair price since I did not have to pay for shipping and other import duties. I contacted the seller through the details he put on the online platform and I tried to make arrangements for the purchase. The man was nice on the phone and he asked that I should send seven per cent of the money to his bank account before I could get my car. He said it was a way to safeguard him from fraudsters and to reassure him that I was serious about the transaction,” he said.

    Despite the assurance, Chibuike still had his doubt.

    “I was doubtful about the transaction but I understood his anxiety, since I also had trust issues. I told him about my business and about how I sold cars as well. From then on, we started chatting via emails and text messages.  He told me about how he sold cars regularly and how he was willing to help me sell my cars to others through the electronic platform. True to his words, he brought the car to me and I thought he was a credible sales man,” he said.

    This bolstered his trust in e-commerce. He didn’t know that the trust displayed by the online sales man was a bait to swindle him and  put him into trouble.

    “Afterwards, I decided to trust him to sell some cars for me. I gave him the keys to the cars because he said some customers wanted to confirm the authenticity of his products. Unknown to me, this was a means for him to have access to my cars. One morning, I woke up and was greeted by a knock from some police men who claimed that I was an accomplice of a fraudster and a thief. The car he sold to me was stolen and the police had been trying to trace the car and arrest the person(s) involved in its disappearance.

    “I was asked about how I met him after I had proved to the police that I was also a victim. I mentioned the online platform where I met him and I told them to make enquiries from them. When the platform was asked to show a database of people that had sold and bought items from them, they were unable to produce a record,” he said.

    Recently, Chibuike was introduced to another online platform, Efritin.com but he was very careful because of his past experience. However, this one seems to be genuine because of their identification and verification process.

    “When I heard about the process at first, I was still not convinced, until they came to my house to physically verify me and confirm that I was an authentic seller. My previous experience forced me to confirm if their process was real. I sent them a picture of my identity card but they refused to accept it until they saw me physically and they checked my ID card thoroughly to confirm that it was real. After this, my confidence in them was restored. It is my expectation that with this new platform, I can still achieve what I originally intended to get from my decision to participate in the online market in the first place,” he told The Nation.

    Chibuike is not alone in the web of e-commerce scammers. He is one out of the numerous victims of online crooks.

    Security of transactions has been a major issue for not just buyers but potential investors who want to contribute to the e-commerce industry. According to an e-commerce analyst, Yinka Agbede, advance in technology also requires an increase in safety issues.

    However, to ensure that the e-commerce space is safe for users,  owners, the banking industry, the telecommunications and even the National Identity Management Commission (NIMC) have started taking measures to curb fraud through biometric data capturing.

    According to a statement, Efritin.com said its platform has taken steps to protect users including users of classified ads sector. While the e-commerce sites came when the scam in the e-commerce is at its loudest, Efritin.com urged customers to see its platform as a safer platform for consumer to consumer transactions in the country.

    Their verification process, which is the first of its kind in the local classified ads industry, is a means to properly confirm the identity of each seller on the site’s platform & this is being embraced by citizens like Okechukwu Chibuike.

    Talking about its process, it said  sellers are verified within 48 hours of an advert placement before the product goes live on the site’s network.

    “The requirement for this verification is a valid government issued ID, including National Identity card/ driver’s licence/voter’s registration card. Through this means, sellers can be tracked from the identification process, which can only be done face to face. Efritin.com’s unique verification process makes them one of most reliable and dependable classified ads platform in the country,” the firm stated in a staement.

    Apart from Efritin.com, e-commerce sites, such as Jumia, Konga, and DealDey, have also adopted security checks to protect consumers and their brand reputation.

    However, experts are hopeful that with ongoing biometrics verification number (BVN) scheme of the CBN in the banking sector, and the cyber-crime law, the incidence of scams on e-commerce will reduce soon.

  • Insurgency: Air Force to deploy more platforms to Yola

    Insurgency: Air Force to deploy more platforms to Yola

    As the onslaught against the Boko Haram terrorist Boko Haram sect continues, the Chief of Air Staff (CAS) Air Marshal Sadique Abubakar has disclosed that more platforms will be moved to Yola, the Adamawa State capital next week.
    ‎He made the disclosure at the weekend in Lagos, during his maiden tour of Air Force command and units in the state.
    Abubakar who stated that one air craft will be deployed from Lagos to Yola, added that several helicopters will also be moved from Port Harcourt to the northeastern state.
    Noting that a number of aircrafts were patrolling the Nigeria-Cameroon border frequently, Abubakar said the AirForce has on several occasions, intercepted and engaged people who smuggle petroleum products to the insurgents.
    “We have our airplanes that are patrolling the Nigeria-Cameroon border at all times and we have intercepted quite a number of people that are smuggling petroleum products to support the insurgents and we have engaged them on a number of occasions,” Abubakar said.
    He further stated that plans were underway to acquire new equipments as well as rehabilitate those that are moribund.
    The Air Chief said: “‎One of our platforms is moving out of Lagos to Yola by next week and quite a number of our helicopters are moving from Port Harcourt to Yola too.
    “We are already working on acquiring new platforms. There are a number of platforms we want to acquire which we are forwarding to the Federal Government.
    “But at the moment, we are working with the ones we have on ground and trying to reactivate some.‎
    “We are not ill-equipped rather we do not have all that we need to have and we are working to improve on the serviceability of the platforms we have.
    “We have been achieving and working closely with the Nigerian Army using the platforms that we have. They might not be adequate, but we are making the best out of what we have on ground and it is producing results.”

  • FilmHouse boasts of huge platforms for advertisers

    AT a forum in Lagos with advertising practitioners, notable cinema chain, FilmHouse, has called on private and government stakeholders to advertise through its platforms, for wider reach and accessibility.

    The dynamic cinema company, set up to develop and operate cinemas in Nigeria, said its vision has so far been accomplished, to be the leading cinema chain in the country.

    The cinema house has brought into visibility, different platforms at which individuals, organisations and agencies could publicise their content and intent. These platforms include; Digital advertising, On Screen adverts, Foyer LCD TV, Weekly FilmXtra Magazine Ad placement and porn corn packs, amongst others.

    The CEO of the group, Kene Mkparu, during the forum, disclosed that the cinema isn’t just established for a certain class of people, but also prioritizes reaching the common man in the society.

    “The cinema is not just opened for certain class of people; but has also prioritizes every member of the society. That is why we’ve made it affordable, and accessible,” he said.

    In line with its commitment as the leading cinema chain in Nigeria, and taking cinema entertainment across all regions in Nigeria; FilmHouse had earlier in year added 5-screen super digital model to the Apapa Mall, in Lagos. The Apapa center has 5 digital screens including (2) 3D screens.

    The company currently has outlets in Ibadan, Lagos, Calabar, Warri, Port Harcourt, Kano, and Abuja.

  • Fidelity Bank overhauls ATM platforms

    Fidelity Bank overhauls ATM platforms

    Adapting to emerging changes in any operating environment to deliver better products or services is a key differentiator in today’s fast-paced banking industry.

    Innovation is a catalyst for growth and success because it enables business adapt and grow in the market place, and it helps to further satisfy the needs and expectations of customers.

    A leading bank which may seem to have taken the above concept to heart and is keen on making it a way of life is Fidelity Bank.

    Our constant interrogation of customer service initiatives in the nation’s banking landscape revealed that the Bank has revamped its Automated Teller Machines (ATM) platform, which has amply simplified transaction processes for their customers.

    This innovative ATM upgrade, the first of its kind in Nigeria, which analysts believe could revolutionise branchless banking, creates a customer interface that is delightful, easier to use by customers of all classes and ages.

  • TV reality shows, traditional platforms battle for survival

    TV reality shows, traditional platforms battle for survival

    Reality shows appear to be gradually becoming a new platform that generates emotional bonding to viewers thus delivering on media investment than traditional platforms. ADEDEJI ADEMIGBUJI reports that the trend poses danger to the survival of traditional platforms.

    Fake and edited, reality TV shows  have been criticised for lacking any clue of reality but the curiosity they create in the minds of the audience has continued to endear the platform to advertisers and brand managers in the Nigeria marketing communication industry.

    In spite of the feelings among critics that the platform, with its growing audience base, is creating a very bad effect on the minds of the youth, the impact the shows have on youth in discovering their talents have made such misgivings to become irrelevant.

    Beyond the job it creates for art directors, producers, creative agencies, modeling agencies, make-up artists, the huge revenue the platform generates for TV stations is unprecedented. But media buying pattern trend-spotters are having concern that the level of corporate sponsorship enjoyed by the platform may have caused revenue loss to other traditional media such as press, outdoor as well as other TV contents which hardly secure advertisement.

    TV reality shows have become the place where advertisers put their sponsorship money because of the higher return-on-advert-spend it offers. With the level the platform engages consumers, it has become a stronger touch-points where brand handlers can reach out to all demography apart from the youth.

    The Group Managing Director of SO & U, a leading marketing communication agency, Mr. Uffot Udeme, said reality shows have become a platform that came with spontaneity. He said: “Over the years, Reality Shows have caught the fancy of the younger generation of consumers. These shows offer a certain spontaneity that excites the audience and any opportunity for involvement is an added bonus.”

    Uffot explained further that TV reality show has become an extension of social media lifestyle.  “To me, this is an extension of the social media lifestyle where people delight in being involved in each others’ lives no matter how geographically remote they may be from each other,” he noted.

    With the level of sponsorship enjoyed by the platform, other platforms especially, press and outdoor has continued to suffer revenue loss while indication showed that the huge budget on reality shows has continued to lift the TV advertisement revenue.

    According to the 2012 edition of Mediafact, a publication of MediaReach OMD, a media planning, buying and strategy agency, media investment for both press and outdoor declined last year while TV recorded rise in media investment. The figure showed that advertising industry spend on Above-the-Line Advertising activities dropped by 10.6 per cent to N91.846 billion in 2012 as against N102.755 billion in 2011. The decrease, accordingly, was due to reduced media investment of 43.9 per cent on outdoor advertising and 41.7 per cent on press while media investment on TV and radio grew by 7.2 per cent and 20.1 per cent respectively.

    Although there are no explanation as to why the investment level has continued to drop in favour of reality TV shows, The Nation spotted the trends based on the level of sponsorship and growing adoption of global reality shows by Nigerian brands. It suggests that the platform is the rave of the moment while producers and franchisees of these shows are making fortune at the expense of some traditional media. For instance, the chairman of Outdoor Advertising Association of Nigeria (OAAN) Mr. Charles Chijide has complained about revenue loss in the sector while a lot of its agency members have fled the industry into politics as a result of dwindling fortune. Also, other sub-sectors in the industry aside  media agencies which invest clients media spend on the best platforms, have never had any cause to complain about revenue loss.

    Findings also show that other TV contents that have suffered low sponsorship as a result of growing strength of reality shows in delivering target audience to brands include but not limited to animated series, breakfast television shows, television comedy, comedy-drama, docudrama, educational television, interview, mockumentary, paranormal television, participation TV, political drama, public affairs (broadcasting) and reality TV shows but the one that has enjoyed higher corporate sponsorship and adaptation to brands sole-sponsorship remains TV reality shows which comes in various content forms such as court show, food reality television, game opera and game show, hidden camera, masterchef among others.

    The TV reality genre of TV content began in earnest between the early and mid 90s with The Real World. It then exploded as a phenomenon in the late 90s and early 2000s with the global success of the series Survivor and Big Brother. These shows and a number of others (usually also competition-based) became global franchises, spawning local versions in dozens of countries.

    For instance, the show became popular as a result of the success of the global TV reality shows. As the show continues to generate massive audience and sponsors, many producers and advertisers began to adapt the global shows that have become a brand such as Big Brother, Who Wants To Be A Millionaire, Dancing with the Stars, Fear Factor, Got Talent, Pop Idols, Project Runway,  The Apprentice,  X Factor among others.

    Some local brands who, however, have appended their brand name to some of these TV shows to increase shows as way of enhancing top-of-the-mind awareness for their brands. Glo X-factor, Airtel’s Nigeria’s Got Talent, Etisalat Nigeria Idols, MTN Who Wants To Be  A Millionaire are some of the global reality shows franchised to some brands in Nigeria. While producers of these shows have continued to innovate in other to remain relevance to changing consumer’s behaviours, a music reality TV show, Star Quest, which has produced major Nigerian stars like Kcee, Klint D’Drunk, Mr. Raw, was recently rested by its organisers after 10 years but the producer of the shows have replaced it with a new one, ‘The Winner Is’ which will feature entries from soloists and groups, as contestants battle for a cash prize of N10 million and brand new car.

    Also, recently, Guinness Nigeria bought into one of the reality shows Airtel Nigeria’s Got Talent as co-sponsor. The show is produced by Rapid Blue Format, a global trendsetting and independent production company, but now with a local franchisee in Nigeria to tap into multibillion naira advert budget for reality shows. However, beyond the façade of the excursion into talent discovery, Guinness Nigeria has seen the show as a potential point of engagement to promote the premium products from the stable of Guinness, Malta Guinness.

    The Director, Marketing and Innovation, Guinness Nigeria, Austin Ufomba said  Malta Guinness’ decision to sponsor Nigeria’s Got Talent is because the show embodies the passion of the brand.

    Also, Coca-Cola last year designed Coke Studio Africa, a new and exciting music television show, to sustain its brand awareness and leadership in the continent where it features musical icons from each participating country to bring every market into consideration.

    The Brand Manager, Colas, Coca-Cola Nigeria Limited, Mr. Olufemi Ashipa, said through the Coke Studio, fans will be able to access content from the show on the new Coke Studio Africa while the entire episodes of the show will also be available on the CocaCola official YouTube channel as viewers across the continent are expected to win various prizes including autographed posters, coke studio kits and branded merchandise through the show.

    With this trend growing, a senior lecturer, marketing, Faculty of Business Administration, University of Lagos, Dr. Peter Iyiegbuniwe, said the trend is gaining popularity because of its entertainment impact. He said:  “This is a new trend in the marketing communication industry in Nigeria. It is fast becoming a platform to engage consumers because of its entertaining features. It can be used to stimulate the desire of their target market.”

    Also, a brand analyst, Mr. Tomi Ogunlesi, said Nigeria as a late adopter of reality and games show, has got to wait after eight decades after an American, Allen Flunt had popularised the concept. Ogunlesi said: “It seems we’ve been late adopters, however, over the past decades, the association of brand names with popular television shows has become a trend on the ascendancy, particularly by companies and brands in a quest to increase their market share.

    “Flipping past channels on both terrestrial and cable TV channels these days, the sheer avalanche of reality shows that is aired assails one. Contemporary television programming has clearly become incomplete without them, or so it seems!”

    Iyiegbuniwe said for any brand-sponsored reality show to make the desired impact on consumers, “it must be localised. It must reflect the culture and values of the people. It must not be offensive and must be of quality standard in production.”

    However, the Managing Director of Media Share, Mr. Dele Odugbemi, said traditional media should improve its content to drive revenue which is being loss to reality shows. “Print media is losing market share largely to digital media so it’s not a surprise the numbers have been declining over the past decade. The medium will need to reinvent itself so that it can remain relevant in the digital age.”

    He said radio and TV continue to thrive because they have incorporated digital media into their offering, adding that a radio station can interact with its audience via its Facebook page or Twitter account. When faced with declining advertising revenues, TV stations reinvented themselves by changing the type of content they offer so one now has soap operas and reality shows.

    But Uffot said in spite of the growing trend, not all reality shows are crowd-pullers. “Not all Reality Shows are crowd pullers. They can only be a threat to other television exposure opportunities by their appeal to, and resonance with the desired audience groups.

    “Content, personalities involved and quality of production are key elements that will determine attraction, followership and value for money for the advertiser,” Uffot insisted.

  • NSE acquires equity stakes in OTC platforms

    •N623b gained in 4 days

    THE Nigerian Stock Exchange (NSE) has acquired substantial equity stakes in the two over-the-counter (OTC) platforms, which will give the Exchange access and control on the platforms that will trade unlisted securities.

    Its President, Alhaji Aliko Dangote, at the Annual General Meeting (AGM)) of the Exchange at the weekend, said the NSE acquired 6.86 per cent equity stake in the Nigerian Association of Securities Dealers (NASD) Limited and 7.79 per cent equity stake of FMDQ Plc.

    According to him, NSE invested N40 million in the NASD and N50 million in FMDQ as part of efforts to boost the securities market and diversify the income stream of the Exchange.

    NASD and FMDQ are formal OTC platforms for the trading in unlisted equities, bonds and money market instruments. Securities and Exchange Commission (SEC) had in December 2012 approved the NASD application to establish the OTC platform.

    “We made a strategic decision to invest in FMDQ to broaden our market reach, diversify revenue stream and to remain at the forefront of an evolving globally competitive financial market,” Dangote said.

    He reiterated the commitment of the Exchange to achieving $1 trillion market capitalisation by 2016 while introducing five products.

    He said NSE will achieve the trillion-dollar target by continuous alignment of the NSE objectives and facilitating the development of the economy through driving capital market formation.

    He outlined the growth objectives to include continuous progression of the transformation agenda, with emphasis on new quality listings, product development and penetration and a transparent market structure.

    Meanwhile, the stock market was extremely bullish last week as investors responded positively to earnings reports by several highly capitalised stocks. With three-day consecutive rally, aggregate market value of all equities increased by N623 billion, underlining 5.88 per cent increase in average return at the stock market.

    Average year-to-date return opened today at 25.04 per cent, signposting equities as the best-return instrument among other securities.

    The All Share Index (ASI), the main index at the NSE, rallied 5.88 per cent to close the week at 35,109.33 points as against its week’s opening index of 33,159.08 points. Total market capitalisation of all quoted equities similarly rose from N10.602 trillion to close at N11.225 trillion.

    Total turnover during the four-day trading week stood at 1.511 billion shares worth of N15.867 billion in 20,965 deals. Financial services sector accounted for 1.261 billion shares valued at N10.855 billion in 12,786 deals.