How To Start A Lucrative Digital Marketing Agency In Nigeria: The Complete Guide
One of the greatest benefits that modern-day technology brings to mankind is the platform to conduct transactions online within the space of a few minutes. With the invention of the internet and social media, life has become easier in many diverse sectors. Particularly, the internet and social media platforms have eliminated the geographical distance existing between buyers and sellers. Large companies, private businesses, and sole or small group entrepreneurs now take to these platforms to advertise and sell their goods and services.
As more and more people are drawn to social media for different reasons ranging from passing time to catching up with old friends, the target of digital marketing is to capitalize on the number and presence of netizens to advertize their products and/or services. About 4.47 billion people now use the internet, and that’s more than half the global population. This number spreads across major platforms such as Email messaging platforms, YouTube, Facebook, Twitter, Instagram, Snapchat, TikTok, and so many others. Available data states that an average social media user spends a cumulative 2 hours and 24 minutes on the internet each passing day. However, the presence of people online does not exactly translate as sales for online businesses. This is where expert digital marketing agencies come to play.
Digital marketing has witnessed significant growth in recent years, thanks to increasing tools and strategies. As of 2019, global digital marketing was valued at $290 to 310 billion and has been estimated to grow as high as $4.5 trillion by 2021 at a CAGR of 12.8%. Statistics reveal that Canada, India, America, the United Arab Emirates and Australia have the largest digital markets in the world. This is especially due to high internet facilities and widespread use of smartphones and computers. On the other hand, Africa as a whole records only 35% presence on the internet. This results in low digital transactions, if compared to what obtains in other parts of the world.
However, the situation is changing rapidly, especially within the last decade. The digital market in Nigeria is fast-growing even though it is still below $15 billion. Notwithstanding, as the economy evolves, more businesspersons are beginning to harness the power of the internet to boost their business. There is still much room for improvement in the sector. If the right internet facilities are put in place and business owners earn enough trust from the public, digital marketing is bound to soar! This makes starting a digital marketing agency in Nigeria a business with great potential. If you’re planning to start a digital marketing agency, here is a detailed guide to help you through.
What Is Digital Marketing?
Digital marketing is a type of marketing that seeks to advertize and sell products and services via internet-based platforms and technologies. Put rather simply, it is the act of selling online. Digital marketing is also known as internet marketing, online marketing, etc.
What Is A Digital Marketing Agency?
A digital marketing agency is any firm or establishment that deploys professional strategies and tools to drive sales for a business on digital platforms. A digital marketing agency constitutes trusted experts who undertake various roles such as monitory sales, analysing target customer’s behaviour, and creating advert contents, among many other functions.
Business Opportunities In Digital Marketing In Nigeria And Across The World
The digital marketing field is a wide one with an expanse of job opportunities. Lots of people now troop to acquire one digital marketing skill or the other. Some of the associated opportunities are:
1). Ads Creation:
The central focus of digital marketing is convincing people to buy certain services or products online. To do this, convincing ad contents become a necessity. Several demographic factors are considered while creating advert contents, and this leaves a window of opportunity for experts at ad curation.
2). Copywriting And Editing:
There are several methods of driving digital marketing. Writing engaging contents is one. Potential buyers do not only need to be convinced but also need all the available information about a product or service for them to make up their mind to buy. Copywriters, proofreaders and editors come in handy at this pont.
3). Video and Audio Creation Services:
Since a large part of social media involves multimedia contents, digital marketing agencies require the services of videographers and podcast creators to create original contents that will engage potential clients on the internet.
4). Web Design, SEO And Analysis:
Another window of opportunity in digital marketing is that it creates room for data analysts, search engine optimization experts as well as web designers to practice their craft.
5). Marketing Strategy Services:
There is almost no end to the number of skilled experts required to effect a productive digital marketing project. Digital marketing also provides opportunities for business strategists to contribute their quota to sales optimization.
Facts And Benefits Of Digital Marketing
- Statistics show that people in cities are more comfortable making purchases online.
- About 69% of people read their email while watching TV at night while 57% of people read it in bed.
- Over 90% of all digital transactions begin with a search engine.
- About 77,000 people use Google each passing day.
- Not less than 3.2 billion people use social media every day.
- Over 50% of online purchases are done via mobile phones.
- Most people detest pop-up messages and would rather not engage them.
- Video ads have been found to be more effective because people watch nothing less than 500 million videos each day.
- India is the only developing country among the top 5 consumers of internet services.
- Canada, India, America, the United Arab Emirates and Australia are some of the biggest hubs of digital marketing in the world.
- Google, Facebook and Amazon are three largest digital ad sellers.
- Less than 10% of internet users go past the third page of the search engine while searching for information.
- Digital marketing contents with complementary images have been found to drive more sales.
- The internet consumer attention span is just 8 seconds.
- Digital contents with short titles have been found to garner more engagements than those with long titles.
Types Of Digital Marketing
1). Content Marketing:
Also known as information marketing, content marketing refers to the type of digital marketing that involves producing and distributing knowledge in a particular field. It comprises blog posts, eBooks, infographics, educational videos, etc.
2). Social Media Marketing:
Social media marketing (SMM) involves the use of social media platforms to build relationships with clients and buyers. Instant messaging platforms are the best options here because they provide real-time interactions between businesses and their clients.
3). Search Engine Marketing:
Most online buyers prefer to use search engines to gather all the information they can about the products or services they need before deciding on what to settle for. Placing ads on search engines, particularly the common ones such as Google and Yahoo helps to drive massive sales. This method of putting one’s services or products right in the face of netizens when they’re searching for related products or services is search engine marketing.
4). Email Marketing:
This digital marketing type works for all categories of persons, including the older generation who spend less time on social media. The email is a platform to build a continuous relationship with your clients or customers. It is the platform to keep them abreast with your latest stock, available discounts and yoir services at large.
5). Affiliate Marketing:
Affiliate marketing is the digital version of collaborating with other businessowners. It involves putting links of external websites or subtly running ads for them right on your own blog, website or other digital platforms. This makes you entitled to a commission of every sale they make when someone buys their product or patronize them through your website or blog.
Challenges Of Digital Marketing Agency In Nigeria
- Distrust in online activities among most buyers
- Risk of fraud and cyber attacks
- Erratic electricity supply
- Expensive internet connectivity
- Poor internet connectivity in some parts of the country
- High competition on the internet
- Variation in prices
- Difficulty in convincing buyers
- Diversity issues affects the type of contents anf ads produced
- Social media clutter
- Rapid evolvement of social media
- Difficulty in keeping up with social media marketing trends
To Sum It Up
No doubt, a digital marketing agency in Nigeria or any other part of Africa holds a great business potential as social media adoption continues to grow. The digital marketing agency business in Nigeria can be a lucrative and profitable venture to start-up, due to its vast market demand and on your ability to build a wide network. If you’re looking for a lucrative business to venture into, the digital marketing business in Nigeria is a great option to explore.
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