By Modupe Gbadeyanka
The Jumia 10th Anniversary Sales slated for June 14 to July 3, 2022, is gathering momentum and ahead of the start of the campaign, the e-commerce platform has held a meeting with vendors.
At the event held over the weekend at Eko Hotel & Suites, Victoria Island, Lagos, officials of Jumia shared insights, plans, strategies and other efficient ways to improve the overall business.
Vendors were encouraged to take advantage of the Jumia Express offering to enable free delivery to consumers during the sale, leverage Jumia Advertising for more visibility in their stores, use the Jumia Logistics for convenient delivery across Nigeria and deploy the JumiaPay for safe and seamless payments.
The chief executive of Jumia Nigeria, Mr Massimiliano Spalazzi, assured that participating vendors will have access to millions of consumers on the platform to sell their products and grow their business.
“This is a special milestone for us all, as it signifies 10 years of e-commerce in Nigeria. Over the past decade, Jumia has partnered with forward-thinking businesses and brands to create an impact across key value chains, providing convenience and better shopping experiences for consumers.
“Furthermore, we have created limitless opportunities for SMEs to grow, which has had a positive impact on the economy.
“We are excited to celebrate 10 years together with our vendors who have made it possible for us to offer the best shopping experience to consumers across Nigeria,” he said.
One of the participants, Mr Abdul-Hafeez Olayinka, who owns Bafur Store, said, “I am excited to be part of Jumia’s 10th Anniversary Sale. Both vendors and sellers would benefit from them.
“I must appreciate Jumia for helping us. SMEs like me grow and reach more consumers. I started my business on the platform over 5 years ago from literally nothing to being one of the top phone vendors.”
The 2022 vendors’ conference was the first physical event hosted by the company post-COVID.
The Jumia 10th Anniversary Sale will feature deals from top brands like Samsung, Coca Cola, Adidas, Oraimo, Nivea, Diageo, Xiaomi, Itel, Unilever, Nestle, Apple, Anker, Nokia, Pernod Ricard, Reckitt Benckiser, Binatone, TCL and more.
Uncover Skincare Raises $1m to Expand into Nigeria
By Adedapo Adesanya
Kenya-based Uncover Skincare, which is seeking to revolutionise the beauty and personal care sector through data-led manufacturing, has raised a $1 million seed fund to expand into the Nigerian market.
The funding round saw the participation of FirstCheck Africa, Samata Capital, Future Africa, IgniteXL, in addition to angel investors, ex-SokoWatch COO, Kwenhui Tawah, and ex-L’Oreal executive and current WPP Scangroup CEO, Patricia Ithau. The new funding brings the total amount raised by Uncover, since its launch in 2020, to $1.225 million.
The company recently introduced a new range of skin products in the market, with plans to launch more next year. Its products are sold through its online platform, on marketplaces, and in the stores of partner brands.
Uncover was launched after incubation at Antler. It uses African botanicals and outsources its manufacturing to Korean original design manufacturers, who they say ensure its products are healthy, safe, affordable, and effective.
Speaking with Tech Crunch, the co-founder and chief executive officer of the company, Sneha Mehta, said, “We are using the funding to launch more products, go into additional markets, and also double down on our tech and data to effectively produce, reach and market to our audience.
“Our production happens in Korea (one of the world’s biggest beauty markets), where we are leveraging the best technology, labs, and scientists in the world who understand stability testing, safe ingredients, and formulations. We are able to deliver because women in our community have graciously provided information and tried our products to help us formulate specifically for this market,” said Mehta.
The startup also offers virtual consultations through an in-house esthetician, and produces skin-tertainment content to reach more users, and recently introduced a skin quiz for personalized recommendations.
The CEO said since launching, the startup’s revenue has grown 20-fold, buoyed by the growing demand for its products and the community it continues to build.
“We have had incredible traction since, and our community has grown from zero to about 60,000 women in Kenya in two years… we have built brand awareness, loyalty, and our values of education and, knowledge and empowerment have been established at the market,” she said.
Uncover hopes to continue building and strengthening this community, starting with Kenya and Nigeria, which are the next major beauty and personal-brand markets in the continent after South Africa.
Interswitch Showcases Innovative Products to Sierra Leone
By Modupe Gbadeyanka
Stakeholders in the financial ecosystem in Sierra Leone have been introduced to a variety of innovative products and solutions from Interswitch, Africa’s leading integrated payments and digital commerce company.
These products are targeted at commercial banks, microfinance banks, fintechs, other financial institutions, and the general public.
The initiative is part of the company’s determination to further deepen its expansion beyond the shores of Nigeria.
Interswitch executed this task by organising its first breakfast session in the West African nation tagged Accelerating Growth and Profitability – Leveraging Technology to Win.
The event provided key insights and explored robust opportunities for businesses in Sierra Leone to continue to evolve.
Speaking at the session, the Group Head of Sales, Payment Processing and Switching at Interswitch Purepay, Mr Olubunmi Aina, stated that businesses in Sierra Leone are set to enjoy seamless operations, especially as pertaining to payments.
“At Interswitch, our core objective is to deliver an Africa where payments are a seamless and invisible part of everyday life, and we have carried this vision with us for the past 20 years.
“Interswitch is committed to the advancement and penetration of digital payments in Africa as a whole. We continue to create innovative solutions that enable individuals and communities to prosper across the continent.
“Today, we are in the Sierra Leone market to provide customers and businesses with secure and convenient digital payments products and to enhance customer experience,” he said.
At the event, participants were onboarded onto the company’s products, including Postilion Retail Payment, Interswitch Banking-as-a-Service, Interswitch Payment-as-a-Service, agency banking and card fusion.
The company stated that these products and solutions would allow customers such as financial institutions, banks, fintechs and microfinance banks to offer topnotch digital payment solutions to their customers. Also, with these products, businesses will enjoy enhancement opportunities and better customer experiences. Likewise, financial institutions will be able to rapidly integrate with newer payment channels with intuitive technologies.
“It is no longer news that the deepened penetration of digital payments is helping to boost Africa’s economy. We are not resting on our oars but will continue to innovate solutions to further elevate Africa’s payments landscape as a whole,” Mr Aina stated.
How SMEs Can Take Advantage of Social Media Advertising for Scalability
By Otori Emmanuel
For every company out there, there is an in-depth goal to increase its market share in both the local and global market space. The profit margin of a company is largely dependent on the audience at its disposal.
Before now, companies have used various forms of advertising to promote their product in order to reach their target audience, including traditional forms like newspaper publications and radio broadcasts. These ad methods delivered effective results until the masses moved to social media.
Currently, with over 3.7 billion people on different social media platforms engaging their times in ways that make them happy, every business should definitely have a cut of this mass audience as their potential customers.
With people of different demography, gender, age and behaviours all in the social media space, there is absolutely a guarantee that every company’s audience is represented in this space.
Amongst the various forms of advertising, social media ads have recently dominated the advertising sector. Companies have multiple options in the form of platforms which deliver massive results through the audience at their disposal, with Facebook alone having 2.9 billion active users on monthly intervals.
Also, there are over 10 social media platforms for individuals and organisations to choose from, including Facebook, Instagram, Twitter, Pinterest, etc, when choosing to promote their brands.
Social media advertising is very effective because of its conversion rate. On average, over 28% of users on the internet have agreed to make choices of brands and products when they see them as ads on the internet.
Over 80% of the United States population is using one or more social media platforms. This has worked for both sellers and buyers. For the buyer, it has created awareness of new products to choose from and updates on existing ones. The promoter or organisation gets the most out of it, as they get to increase sales conversion, grow audience reach, help to understudy competitors and boost brand image. However, this result is tied to how engaging the content is, using the right keywords for written content and clarity for video ads.
Also, deciding the type of content type to create for your ads is a key factor to be considered. Different ad types work differently for different niches and purposes. You could either use ad copy (written text) or use visual content.
Here are a few tips to consider when deciding which content type to go for: Consider what you’re trying to promote and then determine where on which platform your audience is more likely to be represented; What is the conversion rate of such a platform and then decide which content type would work better there between visuals and ad copy.
How to increase your conversion rate, consider these factors:
Study and categorize your audience based on their demographics, age, location and psychological factors influencing their behaviours towards brands.
Decide the type of ads that would deliver the result you seek.
Create compelling content that targets your desired audience using keywords that users can relate to. Place your ads in positions where they’re seen clearly.
Create an appealing landing page with a brief description and a call to action icon to help your visitors make quick decisions. Link this landing page to your ad, and once people visit, swiftly collect their data and follow them as they are your prospective customers.
In conclusion, the result from an ad may not deliver the desired outcome the first time. But certainly, it will leave you with clues to help you improve on subsequent ones. Always track your ad performance and measure conversion rate by dividing conversion by the number of impressions and then multiplying it by 100. The formula is = Conversion/no of Impression * 100. This will help you know the ad or platform that delivered the most results.
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