The document discusses audience segmentation and messaging strategies for SnapCredit, a Nigerian fintech company. It analyzes the characteristics of the Nigerian middle class, including their thrift culture and negative views of loans and credit. Four potential customer profiles are described. The document recommends initially targeting younger, urban professionals who are more open to the product despite higher costs, while also developing messaging to appeal to cost-conscious but risk-averse older audiences. Fees for communication and public relations services are outlined.

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HEARTSPEAK
AUDIENCE SEGMENTATION AND
MESSAGE DEVELOPMENT
SNAPCREDIT

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OPPORTUNITY
WHY DO NIGERIANS NEED SNAPCREDIT?

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The Nigerian middle class has,
among other things, two main
characteristics that we believe
are worthy of note:
§ Thrift Culture
§ Reaction to the words “Loan” and
“Credit”

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THRIFT The average Nigerian believes in acquiring wealth
either slowly or with speed. Being left stranded is
frowned upon which means that both the educated
and the un-banked constantly look for means to a
brighter future.
This has therefore created the opportunity for thrift
collection to be a popular means of savings towards
things of great importance.
This culture cuts across the various social classes in
Nigeria and shows that there is market within the
target segment.

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“LOAN”
“CREDIT”
The average Nigerian is either afraid or resentful of
the terms ‘loan’ and ‘credit’.
This might be informed by the general notion that
banks are not trustworthy and are only out to make
profit for themselves, large corporations and rich
people at the expense of the general public.
The opportunity here would be to avoid using the
terms in marketing communications of any kind for
SnapCredit and replace it with a viable alternative.
An example is RenCredit replacing ‘credit’ in their
name with ‘Money’; which many Nigerians would
light up and show interest.

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SEGMENTATION
AUDIENCE PROFILING

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In order for a consumer value
segment to be considered,
they must fulfill all the
following:
§ Operate a functional bank account
with any commercial bank in Nigeria
§ Earn a monthly income
§ Use the internet often

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TOBY
MALE, 27
§ Creative Consultant at a
Multinational Company in
Victoria Island
§ Lives in Oregun, Ikeja.
§ Monthly salary N220,000
§ Likes to have fun and has a
vibrant night life
§ Smart and Fashion Forward,Hip
and Trendy
§ Tech savvy – likes to have the
latest in gadgets and
electronics
“I need a quick cash fix to
sort me out during tough
times just before the next
paycheck.”
A U D I E N C E N E E D

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KELECHI
FEMALE, 24
§ Marketing Executive at a Travel
Agency in Ikoyi
§ Lives alone in Lekki Phase 1
§ Monthly income N180,000
§ Focused on being a Marketing
Manager in 5 years
§ Likes the occasional gossip and
follows every A-list Female
Celebrity there is on Instagram
§ Has a shoe fetish and is a serial
bridesmaid
“I need cash upfront from
time to time to fund my
lifestyle. Just to keep up
with what’s in-Vogue”
A U D I E N C E N E E D

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QULTHUM
FEMALE, 33
§ Business Owner
§ Lives in Egbeda
§ Monthly income N80,000
§ Wants to be the next Deola
Sagoe
§ Goes online to get fashion
tutorials and tips
§ Married with a Son and puts
family first in all decisions
“I do not like to take loans
from financial Institutions.
It is a form of corporate
slavery.”
A U D I E N C E N E E D

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SAM
MALE, 45
§ Engineering Supervisor
§ Lives in FESTAC
§ Monthly income N100,000
§ To be a good Husband and
Father are the most important
virtues a man will ever possess
§ Always checks his email and
never misses his online
devotional
§ Responsible and always keeps
his cards close to his chest –
does not like to ask friends for
hand-downs.
“I am on top of my money
management, but the
exigencies of life in the
city are overwhelming ”
A U D I E N C E N E E D

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TARGETING
SEGMENT VALUATION

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TOBY
KELECHI
They are more likely to default,
hence cost more to the company
in loan recovery.
C O N S
Cost per recruit will be low, as
they are already industry aware.
They would also be more likely
repeat customers.
P R O S

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QULTHUM
SAM Cost per recruit will be very high,
as they are either industry
unaware or resistant to the
communication.
C O N
They are less likely to default on
repayments.
They are also likely repeat
customers and brand loyalists.
P R O

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MESSAGING
BRAND TONE OF VOICE, PERSONALITY, AND COMMUNICATION

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AUDIENCE NEED
BRAND
TRUTH
COMPETITIVE
VALUE
BRAND MESSAGE
What can we offer,
that the competition
can’t and wont?
INDUSTRY INSIGHT

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We arrive at the right brand
message after considering the
combination of the Segment Need,
Brand Truth, and Competitive Value
in the context of the Industry Insight.

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OUR FEES
ONE-OFF OR RETAINERSHIP

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Communication Strategy $5,020
One-off payment
Public Relations $3,800
Press release (Pre and Post launch)
Press engagement session (excludes 3rd party costs)
Online PR (Blogs and influencers)
VAT 5% $441
TOTAL $9,261
RETAINERSHIP BILLED AT 11% OF 1,400
ANNUAL BILLABLE HOURS
OUR FEES
PREPAID

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CONTACT US 6b Ayinde Akinmade street, Lekki Phase1,
Lekki, Lagos.
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0809 900 9993
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