mobile money and social media in africa
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This document is offered compliments of BSP Media Group. www.bspmediagroup.com
All rights reserved.
MOBILE MONEY AND SOCIAL MEDIA IN AFRICACase Study from Nigeria Vytas Paukstys, CEO
Eskimi
WHAT IS ESKIMI?
MOBILE -FIRST SOCIAL NETWORK TO MEET NEW PEOPLE
FOUNDED 2010
LARGEST MARKETS IN WEST AFRICA
MOBILE MONEY MARKETING PLATFORM SINCE 2012
ESKIMI2nd largest mobile destination in Nigeria
14+M members worldwide
7.7+M members in Nigeria
More than 10 million members from Africa!
1+M members in Ghana
1+M members in Kenya & SA
ESKIMI B2B STRATEGY
ADVERTISEMENTFOR BRANDS
VAS & DATAFOR MOBILEOPERATORS
MOBILEMONEY
MARKETING
ESKIMI B2B STRATEGY
ADVERTISEMENTFOR BRANDS
VAS & DATAFOR MOBILEOPERATORS
MOBILEMONEY
MARKETING
CONTEXT: FINANCIAL PROFILE OF NIGERIA
Population 177M
Bank accounts 29M
Mobile subscribers 111M
Mobile money users 6M
CONTEXT: 3 YEARS AFTER LAUNCH
Nigeria Kenya
mobile money users
6m 12m
% from total mobile subs
5% 40%
MEDIA IN AFRICA
IS MOBILE!90% of SOCIAL MEDIA users are
mobile and spend more than 3 hours per day online
SOC. MEDIA AUDIENCETOP 10% OF NIGERIAN
POPULATION BY DOMESTIC INCOME
KEY STATEMENT: MOBILE MONEY ROLL-OUT HAS TO STRONGLY INCLUDE SOCIAL MEDIA
REASON 1: SOCIAL MEDIA AUDIENCE ARE MOST LIKELY TO USE MOBILE MONEY
URBAN
TRANSACTING NOW
TECH-SAVVY
SOCIAL MEDIA AUDIENCE
SOCIAL MEDIA IS URBAN
91% 9%
of users are in the cities
of users are outside the cities
SENDING MONEY NOW
82% of urban residents send money to their families in rural areas.
SENDS MONEY MONTHLY, BUT PREFERS WEEKLY
76
16
1
35
47
12
Monthly Weekly Daily
How often do you send money? (%)
Bank Recharge cards
REASON 2: SOCIAL MEDIA HAS DATA, ENGAGEMENT AND EDUCATION TOOLS
SOCIAL MEDIA USERS ARE ENGAGED!
3 hoursAVERAGE USER SPENDS UP TO
3 HOURS ON SOCIAL MEDIA EVERY DAY!
Social media already has data about users to acquire and retain them!
USEREDUCATION
USERACQUISITION
USERRETENTION
USER RETENTION
Develop a step-by-step process for the users coming back every day
Push retention messages like “change your pin”, “make your first transaction”, “invite your family” already from the NEXT DAY
Incentivize actions to make learning process easy and engaging
CHANGE YOUR PIN
UPLOAD MONEY
INVITE A FRIEND
USER RETENTION
Localize the experience and make it easy for the user
“You can upload money to your wallet at these agents around you in Ikeja, Lagos”
LOCATION
SOCIAL MEANS SHARINGUse the social graph on social media to drive recommendations and invites.
INVITATIONSTO JOIN
RECOMMEND-ATIONS
AUTOMATIC POSTS
SHARINGPOSSIBILITIES
SOCIAL MEDIA MOBILE MONEY USERS ARE MORE ACTIVE
36% acquired through social media with retention tools
acquired through traditional media with SMS retention
4%
SUMMARY
• SM audience is more effective to roll-out mobile
• SM is the closest, most personal and engaging media
• SM solves user retention & usage