As the world moves increasingly more towards digital advertising, Nigeria is no stranger to this trend.
Global digital advertising spending was forecast to reach an all-time high of 366 billion U.S. dollars in 2020, with Africa projected to grow by about 20%.
This is a testament to the immense opportunities for businesses operating in the Nigerian market that can capitalize on these trends.
But what strategies and tactics should businesses employ for successful online advertising in Nigeria?
What is Online Advertising?
Online advertising is the practice of using digital platforms to promote a product, service or brand in Nigeria.
It includes advertisements on websites, search engines, social media networks, emails, and mobile applications.
Regarding online advertising in Nigeria, numerous options are available for businesses looking to reach their customers.
- display ads
- sponsored posts on social media networks such as Facebook and Twitter
- sponsored search engine results from Google or Bing
- email campaigns
- video ads
- paid influencer campaigns; and
- native ads which appear within content sites such as blogs or news portals.
The Benefits of Online Advertising in Nigeria
Why should you care?
What’s in it for you?
a. Reach a Wider Audience
With nearly 84 million internet users as of 2022, projected to grow to 117 million by 2027, the potential market for online advertising in Nigeria is huge.
Companies can take advantage of this burgeoning user base by developing effective strategies that target the right audiences and maximize their exposure.
And for this to happen, you should create content that resonates with your target consumers.
Continue reading to learn more.
Research suggests that advertisers should expect to pay $0.94 per click or $12.07 per 1000 impressions for Facebook Ads in Nigeria.
This cost-effectiveness is a major factor in the success of online advertising in this region.
As a result, businesses can access marketing channels in Nigeria that previously would have been out of reach due to budget constraints.
Consequently, they can get their products and services out into the market quickly and effectively.
Again, these low costs allow small businesses in particular to make use of digital marketing strategies without breaking the bank.
Advertisers can track their return on investment (ROI) more accurately than ever before through digital analytics tools such as Google Analytics.
With this, you can easily identify which campaigns are most effective and adjust spending accordingly for maximum efficiency and cost-effectiveness.
c. Increased Brand Awareness
Nigerian businesses are increasingly recognizing the importance of brand awareness.
Spreading the ‘gospel’ of your brand, so to speak?.
By leveraging their digital presence, Nigerian businesses can build a stronger connection with potential customers and a more positive image.
Increasing brand awareness is essential for developing customer loyalty and driving sales.
One way to get it right is through social media platforms such as Facebook, Twitter, and Instagram.
These networks offer a great opportunity to engage directly with current and potential customers in real-time conversations about your product or service offerings.
Through constant engagement on these platforms, Nigerian companies can generate interest in their business and build relationships with customers who may eventually become loyal consumers of their products or services.
Another effective way to boost brand recognition is through search engine optimization (SEO).
It puts your business in front of engaged searchers using tools like Google and Bing.
Strategies for Successful Online Advertising in Nigeria
Now that you know why you should be doing this, let’s discuss some of the best strategies to approach this venture.
You see, it doesn’t matter what you sell; if your strategies are off, you will struggle to get results.
But with these tactics, you have a fighting chance.
a. Understand Your Goals
Online advertising in Nigeria can open up a whole new world of possibilities for businesses, but before you start sinking resources into it, it is important to understand your goals.
- What do you intend to achieve using online advertising?
- Do you want more people to visit your website?
- Do you need more leads or sales?
Knowing what objectives you have in mind will help guide the decisions that are made going forward.
For example, if your goal is to increase website visits, then the focus should be on creating campaigns that will drive traffic and spread brand awareness.
On the other hand, if the goal is to generate leads or sales then marketing strategies should prioritize driving conversions at a lower cost per acquisition.
Knowing what success looks like from the beginning will make it easier for you to measure and track progress as well as identify areas where improvements can be made.
b. Choose the Right Platforms
Once you know your goals, the next key is the platform!
And it is as simple as identifying the platforms where your target audience hangs out.
See, different audiences have different preferences and habits when it comes to using technology, so it’s important that you select a platform that best fits their needs.
For example, suppose your target audience consists of younger Nigerians aged 18-35. In that case, you may want to consider investing in social media campaigns on popular sites such as TikTok, Facebook, Instagram and Twitter.
On the other hand, if you are targeting an older demographic more likely to be found online via email or web browsing, then focusing on Google Ads or search engine optimization (SEO) campaigns can help drive traffic from more mature users.
While we are researching the right platforms, there are a few key things we look for:
- Audience sizes: How much reach and/or how many conversions can we expect to see?
- Budget: How much will it cost to reach this audience?
- Targeting options: Can we effectively reach our target audience on this platform?
- Past campaign performance: Has it worked before? Could we do something differently?
c. Target Your Audience
Your target audience is another crucial piece to Nigeria’s successful online advertising campaign.
Knowing who exactly you are trying to reach with your ads is key to achieving maximum engagement and reaching the right people.
And it all comes down to personalization.
You see, by learning as much as possible about your targeted demographic, you can tailor your ads to meet their needs and interests.
And that’s how you get a better response from them!
One way to target your audience is by leveraging data sources that provide insights into consumer behavior and demographics, such as census data or surveys.
This will help you create a profile of the ideal customer so you can focus on relevant messaging and design elements that are likely to resonate with them.
Additionally, tracking user interactions on social media platforms provides valuable information about what kind of content users are engaging with, so you can adjust your ad campaigns accordingly.
d. Test Different Campaigns
‘Set up and forget’ tactic doesn’t work here.
You need to A/B test!
What is a/b testing?
This involves running two different versions of an ad campaign at the same time and seeing which one performs better.
This type of split testing helps marketers in Nigeria understand what works best for their target audiences and optimize campaigns for improved results.
For example, if you have one version with a specific image and another with a different image, you can quickly determine which image resonates more with your audience.
With this knowledge, you can make adjustments to your other campaigns accordingly.
It also allows you to test various messages, call-to-actions, and delivery strategies such as emails or social media posts.
e. Track and Analyze Your Results
Yes, having an online advertising campaign in Nigeria is a great way to get exposure for your brand.
However, it’s essential to track and analyze the results of your campaigns so you can make adjustments as needed.
As they say, you can’t scale what you can’t track (or something along those lines).
But you get the point; you need to know what’s going on.
Know how your campaigns are performing!
Lucky for you, there are many different tools available that can help you track and analyze the results of your campaigns.
- Google Analytics: This is a free tool offered by Google that provides insights into website traffic and advertising performance. It can be used to track website conversions, bounce rates, and more.
- Facebook Analytics: This tool provides insights into the performance of advertisements on Facebook. It can be used to track impressions, click-through rates, and conversion rates for Facebook ads.
- SEMrush: This comprehensive digital marketing toolkit includes a suite of tools for tracking and analyzing advertising campaigns. It includes features such as keyword research, site audit, and competitor analysis.
- AdEspresso: This is a Facebook advertising management platform that provides detailed insights into the performance of Facebook ads. It includes features such as split testing, real-time reporting, and optimization recommendations.
- Crazy Egg: This is a website optimization tool that provides heatmaps and click tracking to help identify areas of a website that are not performing well. It can be used to track the effectiveness of online advertising campaigns.
- Adobe Analytics: This is a powerful analytics platform that provides deep insights into website traffic and advertising performance. It includes features such as audience segmentation, real-time reporting, and conversion tracking.
The data you gather from these tools will provide valuable insights into how well your ads are performing, where people are responding best, what areas need improvement and more.
This is your chance to understand which strategies work best for your company.
And then work on tailoring future campaigns and maximizing their effectiveness.
f. Nail down those KPIs (Key Performance Indicators)
Besides your campaign goals, KPIs are an excellent way to gain valuable insights into your customer base.
Every website has access to these analytics, but many managers don’t pay them enough attention and run their businesses without a clear strategy.
Utilizing KPIs can help you measure your sales growth and the money your company has access to.
Customers produce a great deal of information directly related to your business.
It is important to use this data to your advantage in order to make positive changes.
However, it is essential to not be fooled by big numbers without examining the data in depth.
Each business has its own set of KPIs, and it is important to take the time to identify which ones are the most useful.
g. Create Useful Content
Producing pertinent material for your venture is the best way to support it, improving your online rank and boosting conversions.
In reality, 72% of marketers consider content to be their most successful SEO approach!
To make your advertising campaigns successful in Nigeria, you need to select the right words.
These are not chosen arbitrarily, but through the analysis of your customers’ behavior through the use of KPIs.
The internet and its popular platforms such as YouTube and Vimeo are based on the quality of the content they host.
If you lack the time or know-how to create content yourself, you can always hire professional content creators.
The more you post good content, the higher your website will rank, making it more likely for people to click on it.
This continuous cycle of content creation and website visibility will lead to a rise in sales.
h. Build a Great Website
A website with a visually appealing design and color scheme can make the difference between successful conversions and missed opportunities.
Cluttered, outdated designs can be a deterrent to customers, damaging the reputation of your business.
Fortunately, there are millions of website templates to choose from, at no cost, providing an easy way for businesses to create an attractive website.
Statistics show that if a website is dull, 38% of people will abandon it altogether.
i. Customer Segmentation
It is not enough to know your customer, you need to understand them!
Businesses that fail to segment their customer base effectively have difficulty in the long-term.
For example, a toy may be attractive to younger children, whereas an electronic gadget may appeal to older teens.
If a company only markets to the younger audience, then the teenage and adult demographic will likely turn to other businesses.
As a result, the business will have missed out on an important customer base, because they were unable to separate their customers into distinct groups with different needs.
The key to success in online advertising in Nigeria is to create campaigns that target both young and old, as one size does not fit all.
It is essential to reach out to your most profitable customers first.
This means that even if your business offers goods and services to both age groups, it is necessary to advertise to both.
Otherwise, teenagers may not even be aware of the latest gaming console your business is selling.
As the Nigerian online advertising landscape continues to evolve, this article has highlighted some essential tips for successful online advertising in Nigeria.
With the right strategies and techniques, businesses can reach their target audience quickly and effectively.
It is important to research the market thoroughly before launching any campaigns as each market is unique and requires its own approach.
Additionally, businesses should focus on creating engaging advertisements that will capture their target’s attention.
Finally, it is essential to track results and make adjustments along the way as needed.
Overall, Nigeria presents an incredibly lucrative opportunity for businesses looking to take advantage of its rapidly growing digital economy.
By taking a data-driven approach and leveraging new tools such as programmatic buying, businesses can create effective campaigns tailored specifically to their goals.