Social media is the juice of humanity with people flocking on the various platforms to make connections. This is a report of how Nigerian banks are doing social
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Investments in Customer Centricity Are Seeing Dividends for Financial Service...1to1 Media
A look at how Retail Banks and Insurance Companies are evolving their product-focused missions into customer-centric strategies for financial gains. www.1to1media.com
World Retail Banking Report 2015 from Capgemini and EfmaCapgemini
The 12th annual World Retail Banking Report by Capgemini and Efma finds the bank-customer relationship is weakening. Stagnating global customer experience levels combined with an alarming increase in customers willing to leave their banks has increased the chance of customers using non-bank competitors such as brand-name retailers, FinTech firms, crowd-funding websites, peer-to-peer lenders, Internet/mobile service providers, and Apple NFC-based payment systems. The report findings underscore the need for retail banks to make investments to improve customer experience, especially in middle and back offices which have historically been ignored and are essential to providing engaging digital services through faster processing times and reduction in errors.
Eyes wide shut: Global insights and actions for banks in the digital ageIgnasi Martín Morales
We know what banks want to achieve.
We know how they can achieve it. What we
want to explore further is how close banks
are to achieving their digital goals, both
now and over the next few years. So we
asked 157 senior IT executives, CIOs, CTOs
and other heads of technology spanning
14 primary markets for their thoughts on
digital banking’s potential for today – and
tomorrow. This paper presents the findings
of our study and examines the implications
of our findings for banking technology
executives.
Effect of Digital Banking on Customer Satisfaction: A case of National Bank o...paperpublications3
Abstract: This study purposed to investigate the effect of digital banking on customer satisfaction case of National Bank of Kenya. The objective that guided the study: To determine the effect of speed of transactions on Customer Satisfaction case of National Bank of Kenya, Bungoma County. The target population for the study was bank customers and banking staff from National Bank in Bungoma County. The study utilized a sample size of 417. Descriptive survey design was undertaken and data was collected using a triangulation of methods including questionnaires, interview schedules and document reviews. Analysis was undertaken with the aid of Statistical Package for Social Sciences where both descriptive and correlation analysis were performed. The findings of the study established that there was a significant relationship between speed of transaction and customers satisfaction, χ2 (6, N=350) = 221.45. The study recommends that there is need by banks to invest more on robust reliable systems to reduce incidents of failed transactions and transactional errors in ATMs.
We welcome you to this, our newest edition, of Inside DubLi and to the future of all things DubLi. Never before in the history of our company have we experienced such excitement, opportunity and such substantial growth.
A testament to this growth was our first quarter of fiscal 2015 where we earned more revenue than all of 2014 as a result of continued strategic focus on selling more V.I.P. subscriptions. We attribute this astounding growth to our hyper focused Business Associates on building their organizations, consumer acceptance of our Cashback model and economic trends that support DubLi’s overall business model. DubLi remains in a unique position in the global ecommerce sector as we are the only true pure-play global Cashback provider.
This, coupled with our own on the ground sales force in DubLi Network, and our co-branded Partner Program provides the recipe for success. No other company can reach the global consumer as DubLi can and certainly not an educated customer base. Our worldwide appeal of new Business Associates who see the opportunity in both Cashback shopping as well as the Partner Program is second to none. In fact, we are proud to announce that DubLi currently hosts Partner Programs in over 40 countries around the world. Partners both large and small have experienced the unique value proposition DubLi brings to the consumer audience.
DubLi’s business model empowers the consumer, the Business Associate and the Partner to participate in their financial future. As our valued Business Associates around the world know, a new era has arrived where smart consumers only want to be exposed to offers that speak directly to their current interests, likes, wants and needs. They want to be treated as individuals.
This is why them DubLi business model works: Business Associates speak the language of their prospects, consumers are afforded a myriad of shopping and travel opportunities to meet their own unique likes, wants and needs and Partners benefit from offering our valuable product to their constituents. Regardless of whether a Partner identifies their audience as a consumer, donor, volunteer, customer or member, at the end of the day, each is an individual consumer in some way, shape or form.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Investments in Customer Centricity Are Seeing Dividends for Financial Service...1to1 Media
A look at how Retail Banks and Insurance Companies are evolving their product-focused missions into customer-centric strategies for financial gains. www.1to1media.com
World Retail Banking Report 2015 from Capgemini and EfmaCapgemini
The 12th annual World Retail Banking Report by Capgemini and Efma finds the bank-customer relationship is weakening. Stagnating global customer experience levels combined with an alarming increase in customers willing to leave their banks has increased the chance of customers using non-bank competitors such as brand-name retailers, FinTech firms, crowd-funding websites, peer-to-peer lenders, Internet/mobile service providers, and Apple NFC-based payment systems. The report findings underscore the need for retail banks to make investments to improve customer experience, especially in middle and back offices which have historically been ignored and are essential to providing engaging digital services through faster processing times and reduction in errors.
Eyes wide shut: Global insights and actions for banks in the digital ageIgnasi Martín Morales
We know what banks want to achieve.
We know how they can achieve it. What we
want to explore further is how close banks
are to achieving their digital goals, both
now and over the next few years. So we
asked 157 senior IT executives, CIOs, CTOs
and other heads of technology spanning
14 primary markets for their thoughts on
digital banking’s potential for today – and
tomorrow. This paper presents the findings
of our study and examines the implications
of our findings for banking technology
executives.
Effect of Digital Banking on Customer Satisfaction: A case of National Bank o...paperpublications3
Abstract: This study purposed to investigate the effect of digital banking on customer satisfaction case of National Bank of Kenya. The objective that guided the study: To determine the effect of speed of transactions on Customer Satisfaction case of National Bank of Kenya, Bungoma County. The target population for the study was bank customers and banking staff from National Bank in Bungoma County. The study utilized a sample size of 417. Descriptive survey design was undertaken and data was collected using a triangulation of methods including questionnaires, interview schedules and document reviews. Analysis was undertaken with the aid of Statistical Package for Social Sciences where both descriptive and correlation analysis were performed. The findings of the study established that there was a significant relationship between speed of transaction and customers satisfaction, χ2 (6, N=350) = 221.45. The study recommends that there is need by banks to invest more on robust reliable systems to reduce incidents of failed transactions and transactional errors in ATMs.
We welcome you to this, our newest edition, of Inside DubLi and to the future of all things DubLi. Never before in the history of our company have we experienced such excitement, opportunity and such substantial growth.
A testament to this growth was our first quarter of fiscal 2015 where we earned more revenue than all of 2014 as a result of continued strategic focus on selling more V.I.P. subscriptions. We attribute this astounding growth to our hyper focused Business Associates on building their organizations, consumer acceptance of our Cashback model and economic trends that support DubLi’s overall business model. DubLi remains in a unique position in the global ecommerce sector as we are the only true pure-play global Cashback provider.
This, coupled with our own on the ground sales force in DubLi Network, and our co-branded Partner Program provides the recipe for success. No other company can reach the global consumer as DubLi can and certainly not an educated customer base. Our worldwide appeal of new Business Associates who see the opportunity in both Cashback shopping as well as the Partner Program is second to none. In fact, we are proud to announce that DubLi currently hosts Partner Programs in over 40 countries around the world. Partners both large and small have experienced the unique value proposition DubLi brings to the consumer audience.
DubLi’s business model empowers the consumer, the Business Associate and the Partner to participate in their financial future. As our valued Business Associates around the world know, a new era has arrived where smart consumers only want to be exposed to offers that speak directly to their current interests, likes, wants and needs. They want to be treated as individuals.
This is why them DubLi business model works: Business Associates speak the language of their prospects, consumers are afforded a myriad of shopping and travel opportunities to meet their own unique likes, wants and needs and Partners benefit from offering our valuable product to their constituents. Regardless of whether a Partner identifies their audience as a consumer, donor, volunteer, customer or member, at the end of the day, each is an individual consumer in some way, shape or form.
The digital transformation guide: Six strategies to scale financial inclusionrun_frictionless
FSPs must find digital ways to reach and interact with their customers efficiently and at scale, use their client data for more efficient credit management and product design, and build more flexible core systems that support adaptability.
https://runfrictionless.com/b2b-white-paper-service/
The world is ever-changing, and technology is taking the lead. Today, everything goes digital - amusement, health, property, banking and even currencies. This is, however, comprehensible. In North America alone, eighty nine of the population is on-line (subscription required).
A New Vision For Payments In Financial ServicesPenn Mutual
Financial service companies are under growing pressure from a seismic shift in consumer adoption and usage of smartphones/tables and social media driven by technology. This has opened the door for new and innovative competitors to challenge banks and financial services companies for market share in traditional banking services. Globally, millennials and consumers in general are rapidly adopting mobile payments as a primary method to move money. The lessons are the same regardless of industry - adapt, innovate, and engage or risk losing relevancy and market share. Learn how these trends are unfolding and how companies can respond to them.
“Impact of E-Marketing on Consumer Behaviour: a Case of Karachi, Pakistan”IOSRJBM
The increase of technologies in the business world marketer’s job changes from billboard and print advertisement to more on e-marketing mediums. The design, the target audience specified with the high increase of online marketing, online buying and selling, and online companies web-design. Today’s companies focused on designing the web-page for marketing their product rather than showing advertisements on TV, billboard, magazines, newspapers etc. e-marketing is the future of marketing, it is quick, less costly and give accurate information on time. This research shows that almost 80-90% people are attracted with the online advertisement which is done mostly on social websites, as social webs users are not specific to gender and age group so everyone see their type of advertisement on their Facebook pages. Today’s customers are buying products mostly after watching online advertisement rather than by reading a newspapers, magazines or watching T.V. As today’s customers are not brand loyal anymore so with the help of online marketing company give updates of their products or services to maintain loyalty with their customers. For staying into the nowadays business world, companies should adopt e-marketing, e-buying and e-selling, online banking facilities to purchase online goods, ATM cards, mobile marketing and other these kinds of marketing tool. E-marketing is the golden success factor for nowadays marketing firms. A good source of capturing the overall world marketing through online marketing is by imposing advertisement on YouTube, Facebook, E-mail, E-webs for both business advertisement and consumer buying products and services advertisements. For the greater success of any business companies are quickly adopting e-marketing style of advertisement because they see more spark in e-marketing rather than advertised on other commercial tools. Because of e-marketing, e-buying and selling increase, and because of e-buying and selling ATM cards and e-buying, e-shopping and e-marketing reach to the best stage of their success.
Case study: DBS's digitalization in Southeast AsiaSahil Gupta
DBS Bank‘s internationalization strategy is built on the cornerstone of a customer-centric digital platform which goes beyond banking by focusing on the customer’s lifestyle and evolving needs. EY has been a proud collaborator to DBS in this journey, advising on the formulation of strategy for Indonesia.
Case study: DBS's digitalization in Southeast AsiaVarun Mittal
DBS Bank‘s internationalization strategy is built on the cornerstone of a customer-centric digital platform which goes beyond banking by focusing on the customer’s lifestyle and evolving needs. EY has been a proud collaborator to DBS in this journey, advising on the formulation of strategy for Indonesia.
Ascent – Thought leadership from Atos Promises of a converging worldAscent Atos
A magazine into the future of our ever-more connected planet
This new Ascent magazine is the latest edition of the ascent thought leadership program from Atos and sets out how the years ahead will see era-defining change in the global technology landscape, further impacting the way we all connect, live and do business.
This magazine includes articles and views from business leaders, academia and the Atos Scientific Community. Each of the stories in this magazine can tell us something about the world that awaits us all.
An ocean of jobs in digital marketing awaits you. You just have to read it. https://www.vaibhavk.com/digital-marketing-courses-in-mau/
The typical objective of digital marketing is to reach the public and engage with them through various e-channels. Digital marketing has impressively broken the chains over the years due to the far-flung use of digital devices and the internet. The campaigns of digital marketing can be custom-made based on audiences’ demographics, interests, and behavior.
The extensive use of digital marketing has resulted in a shift in how organizations approach marketing, emphasising data-driven tactics and personalized client experience.
The 2000s and 2010s saw a sudden growth in digital marketing due to the proliferation of devices capable of accessing digital media. Stats from 2012 and 2013 showed, digital marketing was still growing, indicating its charm in the marketing industry.
The development of social media platforms such as LinkedIn, Facebook, YouTube, and Twitter in the 2000s led to a significant change in customer behavior. As a result, customers expected a seamless user experience across different channels for searching product information, which led to the diversification of marketing technology.
#education
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Hasil penelitian (Economic Impact Study) terbaru oleh Google dan Deloitte Access Economics yang berisi temuan dan rekomendasi penting yang bermanfaat bagi pelaku bisnis dan pembuat kebijakan.
See the original press release here https://resources.lloydsbank.com/insight/uk-business-digital-index
Posted here for attendees of my workshops and programmes to access
Surat Digital Marketing School is created to offer a complete course that is specifically designed as per the current industry trends. Years of experience has helped us identify and understand the graduate-employee skills gap in the industry. At our school, we keep up with the pace of the industry and impart a holistic education that encompasses all the latest concepts of the Digital world so that our graduates can effortlessly integrate into the assigned roles.
This is the place where you become a Digital Marketing Expert.
Grow Your Reddit Community Fast.........SocioCosmos
Sociocosmos helps you gain Reddit followers quickly and easily. Build your community and expand your influence.
https://www.sociocosmos.com/product-category/reddit/
“To be integrated is to feel secure, to feel connected.” The views and experi...AJHSSR Journal
ABSTRACT: Although a significant amount of literature exists on Morocco's migration policies and their
successes and failures since their implementation in 2014, there is limited research on the integration of subSaharan African children into schools. This paperis part of a Ph.D. research project that aims to fill this gap. It
reports the main findings of a study conducted with migrant children enrolled in two public schools in Rabat,
Morocco, exploring how integration is defined by the children themselves and identifying the obstacles that they
have encountered thus far. The following paper uses an inductive approach and primarily focuses on the
relationships of children with their teachers and peers as a key aspect of integration for students with a migration
background. The study has led to several crucial findings. It emphasizes the significance of speaking Colloquial
Moroccan Arabic (Darija) and being part of a community for effective integration. Moreover, it reveals that the
use of Modern Standard Arabic as the language of instruction in schools is a source of frustration for students,
indicating the need for language policy reform. The study underlines the importanceof considering the
children‟s agency when being integrated into mainstream public schools.
.
KEYWORDS: migration, education, integration, sub-Saharan African children, public school
Multilingual SEO Services | Multilingual Keyword Research | Filosemadisonsmith478075
Multilingual SEO services are essential for businesses aiming to expand their global presence. They involve optimizing a website for search engines in multiple languages, enhancing visibility, and reaching diverse audiences. Filose offers comprehensive multilingual SEO services designed to help businesses optimize their websites for search engines in various languages, enhancing their global reach and market presence. These services ensure that your content is not only translated but also culturally and contextually adapted to resonate with local audiences.
Visit us at -https://www.filose.com/
Improving Workplace Safety Performance in Malaysian SMEs: The Role of Safety ...AJHSSR Journal
ABSTRACT: In the Malaysian context, small and medium enterprises (SMEs) experience a significant
burden of workplace accidents. A consensus among scholars attributes a substantial portion of these incidents to
human factors, particularly unsafe behaviors. This study, conducted in Malaysia's northern region, specifically
targeted Safety and Health/Human Resource professionals within the manufacturing sector of SMEs. We
gathered a robust dataset comprising 107 responses through a meticulously designed self-administered
questionnaire. Employing advanced partial least squares-structural equation modeling (PLS-SEM) techniques
with SmartPLS 3.2.9, we rigorously analyzed the data to scrutinize the intricate relationship between safety
behavior and safety performance. The research findings unequivocally underscore the palpable and
consequential impact of safety behavior variables, namely safety compliance and safety participation, on
improving safety performance indicators such as accidents, injuries, and property damages. These results
strongly validate research hypotheses. Consequently, this study highlights the pivotal significance of cultivating
safety behavior among employees, particularly in resource-constrained SME settings, as an essential step toward
enhancing workplace safety performance.
KEYWORDS :Safety compliance, safety participation, safety performance, SME
Unlock TikTok Success with Sociocosmos..SocioCosmos
Discover how Sociocosmos can boost your TikTok presence with real followers and engagement. Achieve your social media goals today!
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Buy Pinterest Followers, Reactions & Repins Go Viral on Pinterest with Socio...SocioCosmos
Get more Pinterest followers, reactions, and repins with Sociocosmos, the leading platform to buy all kinds of Pinterest presence. Boost your profile and reach a wider audience.
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Enhance your social media strategy with the best digital marketing agency in Kolkata. This PPT covers 7 essential tips for effective social media marketing, offering practical advice and actionable insights to help you boost engagement, reach your target audience, and grow your online presence.
Your Path to YouTube Stardom Starts HereSocioCosmos
Skyrocket your YouTube presence with Sociocosmos' proven methods. Gain real engagement and build a loyal audience. Join us now.
https://www.sociocosmos.com/product-category/youtube/
2. About Toolz Academy
Toolz Academy is imbued with a consuming passion for helping companies and individuals
reinvent themselves in a continuously digitalized ecosystem. We are the knowledge arm of Street
Toolz and taking the lead in ensuring the digital skill gap is bridged by imparting the required
knowledge to match the ongoing digital transformation. Toolz Academy also connects trained
youths to companies that require digital savvy hires through her Free internship programme for
young Nigerian graduates.
With our hands-on learning capabilities, companies and individuals can effectively transform
and reinvent their brand and life’s career knowing the challenges that are before them. You
need to #ReinventYourself for today’s fast paced digitally driven economy. Take a new course to
advance your career and life. Let us show you how: www.toolzacademy.com
Lead Writer: Babajide Alaka
Research Team: Olufunke Akinloye, Subomi Dominic, Amaka Uremeh
Editor: Olufunke Akinloye
Creative: Oluwaseun Duncan
Contact: study@toolzacademy.com +234-342-4403
Address: No. 29 Adeniyi Jones, Ikeja, Lagos State, Nigeria
Data Sources: Social Bakers, Financial Brand, CBN
Acknowledgements: McKinsey, Financial Brands, Deloitte, KPMGTatio blanihi, lliquassumGit
Disclaimer: This document has been produced by Toolz Academy to provide information to
Africa by increasing the digital knowledge and competencies on the continent.
Toolz Academy thus certify that all the views expressed in this document accurately reflect years
of experience and research that we have vetted and pronounce as global best practice.
3. About Author
Babajide Alaka, Head, Content at Zowasel, is the Content Creation
& Aggregation lead for the Zowasel Group that encompasses
Zowasel, Growsel, and Toolz Academy.
He was formerly the Content Director for Nigeria’s leading
Digital Agency, Street Toolz. His areas of strength are digital
communications, engagement management, content design,
writing, and curation. He has worked in the journalism sector for
more than 12 years - having stints with NEXT, Daily Times and
Goal.
He is Google-Certified in Mobile Marketing and Search Marketing and continues to write for
Premium Times while he is also the group’s Digital Marketing Specialist.
4. Digital Facts 2017 | page@toolzacademy
4
Prologue
TODAY’S
BANKING:
A PICTURE OF
MARKET REALITY!
In today’s ever-evolving
marketplace, banks need to not
only seek out customers, they
need to devise personalized
ways to retain them. Banking
today means more than opening
accounts or giving out loans;
the now and future of banking
entails showing customers that
they have a honest adviser in
their banking institution!
With that as a truism, and
the digitalization of human
connections, choosing to
embrace digital platforms is no
more an option; it has become
the norm.
Bank customers expect to speak
and be listened to as more than
40% of new customers have a
millennial mindset.
The intractable habits of this
core market ensures that new
emerging platforms require
constant interaction and
engagement as the new culture
speedily moves far away from
traditional means of marketing.
Trust and commitment are the
new currencies in developing
digital relationships – attributes
that banks are not normally
known for.
Then, despite the fact that
the new tools for doing the
same things are fraught with
multifarious complications, the
need for change is greater than
the fear of change.
As in all B2C companies, banks
must find what works in the
midst of the digital chaos and
negotiate their way to a greater
ROI using these new marketing
channels.
This study shows what is
presently obtainable, with an
insight into what the future
portends. It suggests and
explains Market Reality as
against Market Research.
Babajide Alaka
Head, Content
@alakajide
5. @toolzacademy Digital Facts 2017 | page
5
What we have learnt
about Nigerian banks
“To make banking joyful, make the
banking part invisible. I told our
innovation team: don’t innovate.
Instead, teach the rest of the
organization to innovate.”
Paul Cobban, Chief Operating
Officer, Technology and Operations
for DBS, chosen as Euromoney’s
best digital bank
Facts and
numbers for
Nigerian banks
The summation of physical
banking visits continues to
dwindle with the rise and
proliferation of Internet usage
by banks and other financial
enterprises. The normal activities
of saving and withdrawing cash
from banks has been thoroughly
digitalized, which in essence
has forced mega-banks to think
more astutely as they are now
on a more level playing ground
with new banks and even Fintech
startups.
Research shows that physical
banking visits have gone down by
almost 40% in Nigeria between
2015 and end of 2016.
Digitalization has ensured better
competition in a more dynamic
format as banks now do not have
to invest in brick and mortar – all
they need is the Internet and very
knowledgeable digital natives
and migrants.
6. Digital Facts 2017 | page@toolzacademy
6
The advent and the
usage of Digital
Marketing by
Nigerian banks
Technology will be key to African
banks closing the gap between
expectation and satisfaction.
Beyond leveraging Customer
Relationship Management (CRM)
systems and tools, enhanced
service provision through alternate
channels – particularly mobile and
Internet – will also help improve
the perception of customer care,
reports KPMG.
Nigeria has over 148 million mobile
telephonesubscribersandabout90
million of them can access Internet
data services on their devices.
With around one-third of Nigeria’s
population under 24 years old
and a growing middle class
population, all signs suggest that
Internet penetration [at 47% and
growing] and usage is set to grow
significantly.
Social media channels are also
gaining significant adoption
in Nigeria. Platforms such as
Facebook, Instagram, Twitter,
Whatsapp, and LinkedIn are widely
used by Nigerians as a way to
communicate with friends and the
wider public.
[KPMGRetailConsumerSatisfaction
Report, September 2016]
This report shows an enormous
potential for engagement on social
media platforms as 77% of the
correspondents of the survey say
that although they use social media
for personal purposes, they do not
interact with their banks through
social media channels.
Internet World Stats
Nigeria has a population of over
180 million people. According to
the Internet World Stats about 91
million were active Internet users
by December 2016. This figure
gives Internet penetration of 47.1%,
an astronomical rise from 200,000
Internet users in 2000.
Overall, Nigeria has the highest
number of Internet users in Africa,
with an estimated 27.4%.
As at June 2016, Nigeria had 16
million active Facebook users.
Between 2000 and 2015 there
has been an exponential growth
in Internet penetration thereby
increasing the social media and
digital marketing potentials in
banking.
Disruption
everywhere
The most common word in tech
in 2016 was disruption and the
rise of artificial intelligence (AI)
and the Internet of Things (IoT) is
a frightening phenomenon – at
least for those who fear all things
digital. In as much as it would mean
some people losing their jobs, it
also means that new jobs, new
channels and new ways to reach
the consumer will be created.
The emergence of the smartphone,
the proliferation of the PC and
the adverse usage of social
media platforms have brought all
businesses to this crossroad. If
your future strategy is not built on
digital platforms, then the brands
(read banks) are on their way to
extinction.
Some can say this is far-fetched
but that was how Facebook was
sniggered at when it started. Now
the platform has more people than
China.
The intersection of these
technologies is changing our
respective lives in such dynamic
ways and the convergence of
technology and money makes for a
potent mix.
The Banking sector has
been a leading industry
over the years in using
advertising platforms to
reach consumers. with the
digital transformation,
they are faced with the
challenge of keeping the
leadership position.
Olufunke Akinloye
Chief Learning Officer -
Toolz Academy
7. @toolzacademy Digital Facts 2017 | page
7
How Nigerian
banks are using
the Internet
Nigerian banks are constantly
trying to evolve their platforms
and the drive continues for the
accummulation of more clients
and more accounts. At the same
time, they are shifting from
the starched persona of old
because of the appreciated need
to cultivate millennial banking
accounts from the Gen X, Y and
Z population.
In total, Nigeria’s almost 90
million Internet-using consumers
are increasingly more middle-
class, young and dynamic,
making them a viable business
opportunity for the banks. The
Internet penetration in the
country also continues to grow
from its current 47%.
These institutions now know that
they can take advantage of social
media marketing’s long-term
potential as a solutions platform
to provide creative channels to
promote or market products
and services to consumers and
businesses alike.
At this moment, every bank
C-level executive must
realises the important digital
marketing concepts of Social
Media Marketing, SEO, Mobile
Marketing, Google Analytics
and the almighty Alexa ranking
scheme.
The consumers, who are now
really kings have grown more
powerful aided by social media
platforms. There is now more
evidence that banks are shifting
their gaze from old money to
millennial money. But, in order
to accomplish this seamlessly,
these banks are realizing that
they must play in the millennial
playground.
Nigeria [by May 2017] had 85
million active Internet users with
16 million having active social
media accounts, while 14 million
have an active mobile social
account. While the population
of the country grew just 2.8% in
2016, the Internet usage grew by
16%.
Various brands like GT Bank,
through their various platforms
are engaging more millennials
with their offerings [with
compelling giveaways] on the
channel.
The report also added that only
about 22% of the estimated
population of 180 million
Nigerians is currently banked.
One facet of the industry that has
continued to grow exponentially
with greater growth expected in
2017 and beyond is the budget
on Digital Marketing [about 43%
on the average compared to
below 10% in 2013].
Banks can enhance their service
delivery, become more user-
friendly by acquring a digital
marketing mind set.
Social Bakers revealed
in their May 2017 report
that people that engaged
with finance and financial
matters on Facebook in
Nigeria was 9,619,678
people - a shortfall of
almost 7 million from the
number of active users as
at June 2016.
8. Digital Facts 2017 | page@toolzacademy
8
How the top
10 banks in
the world have
deployed their
Digital Marketing
strategies
The Internet has provided the
platform and the tools for correct
measurement.
Babajide Alaka
If we look at the table, we see that
the number of YouTube views
for the top 3; State Bank of India,
Yes Bank of India and Bank of
America, have numbers greater
than 20 million collectively on
individual campaigns.
The inference – a truism for
Digital and more specifically
social media marketing at this
moment is that videos are
doing better than native advert,
engendering more engagement,
especially with the millennials,
who now make up about 17% of
the world population. This group
can also be referred to as Digital
Natives – they were born with a
smartphone in their hands.
The most digital Nigerian bank,
GT Bank, had over 3 million views
- this is without using numbers
from their social currency
platform, Ndani TV, SME Market
Hub, which has over 85,000
subscribers.
In traditional advertising,
accurate analysis could not
be documented on the actual
strength or otherwise of
campaigns. But digital marketing
and advertising offers that and
much more with scalable tools.
There is also the aspect of
targeted marketing, which
enables a brand to actually
advertise to segments of the
population who can actually link
up with the brand.
It also has the added benefit of
being terminable at any time.
If a particular campaign is not
working, it can be stopped and a
more attuned campaign can be
installed.
At any point of the campaign,
analysis can be made and
iteration and integration
instituted.
With rising trends, competition,
recorded and potential results,
banks have continued to increase
the percentage on digital
activities in their marketing
budget.
Rob Mettler, a Digital Business
Expert at PA Consulting Group says,
“Many sectors of business have
had a clear imperative to change.
Media, retail and travel have each
experienced extreme disruption
and it’s significant how those that
haven’t transformed have tended
to become obsolete or irrelevant.”
9. @toolzacademy Digital Facts 2017 | page
9
13,946,821
31,754
7,016,237
781,027
680,727
155,807
Most viewed Post
SBI Welcomes The
Newest Additions To
Its Growing Family!
No. 1 in the world
Most viewed Post
#LLOVEYOURAPP:
Ride On
No. 3 in the world
Most viewed Post
Zenith *966# Fridays
Promo
No. 2 in Nigeria
Most viewed Post
YES BANK
Transformation
Series
No. 2 in the world
Most viewed Post
Brazilian Kpomo
No. 1 in Nigeria
Most viewed Post
UBA Seasons
Greetings in French
No. 3 in Nigeria
World
Top 3 vs
Nigeria’s
Top 3
S o c i a l B a n k s
Youtube.com
Based on Statistics as at May 2017
10. Digital Facts 2017 | page@toolzacademy
10
Feedback and
challenges facing
the Nigerian
banks using real
life interviews
Goingthroughsomebank-owned
social media platforms shows
a dissonance in usage. While
these platforms have created
an easier route for customers
to liaise with their banks – these
financial institutions have failed
in so many ways to enhance their
brand standing with a two-way
communication.
The meaning of social media
in B2C businesses, especially
for a sector as conservative as
banking, has grown greater and
achieved a nuance where every
banking brand now sees it as a
tool to draw in the unbanked in
the country.
This study looks at the social
media activity of Nigerian banks,
asratedbythefinancialwatchdog
website, Financial Brand.
At the end of December 2016,
*Financial Brand released a
study which showcased the top
100 most digitally savvy banks
in the world, otherwise known
as the Power 100 Ranks, and
of these 100, 12 were Nigerian
banks. GT Bank was ranked 6th;
Zenith Bank 18th; Access Bank
29th; UBA 39th and First Bank
ranked 43rd.
The next five in the ranking are
Stanbic IBTC, which ranked 53rd,
First City Monument Bank 56th,
Diamond Bank 59th, Fidelity
Bank 71st, and Sterling Bank
77th.
11. @toolzacademy Digital Facts 2017 | page
11
Nigerian Banks and their Social Media Platforms
No Bank Name Facebook Twitter Instagram YouTube Addition
1 Access Bank 1871189 252246 107741 753 2231929
2 Diamond Bank 699962 190771 65307 2014 958054
3 Ecobank Nigeria 267917 25175 777 427 294296
4 Fidelity Bank 704827 104625 27505 829062 1666019
5 First Bank 1046502 242407 84421 967 1374297
6 First City Monument Bank 1048969 49440 73246 316 1171971
7 GT Bank PLC 5322479 1046240 256492 7406 6632617
8 CitiBank Nigeria Ltd 1147480 891726 19817 25999 2085022
9 Heritage Banking Company 97620 28683 7222 90 133615
10 Key Stone Bank 147670 6141 4872 37 158690
11 Skye Bank Plc. 263502 55223 18941 744 338410
12 Stanbic IBTC Bank Ltd 450327 180922 38724 4779 674752
13 Standard Chartered Bank 184912 44225 480 11116 240733
14 Sterling Bank Plc. 524933 43905 10768 261 579867
15 Suntrust Bank 1017 324 134 8 1483
16 Union Bank of Nigeria Plc. 554227 109093 19694 187 683201
17 United Bank for Africa 1500080 166935 56156 1595 1724766
18 Unity Bank Plc. 64515 23026 5263 30 92834
19 Wema Bank Plc. 126087 33990 13176 184 173437
20 Zenith Bank 2,471, 799 519996 115076 1389 3108260
21 Bank of Industry 13489 14013 8959 - 36461
22 Federal Mortgage Bank 976 7439 186 40 8641
23 Providus Bank Plc. 590 99 - 4 693
24 Jaiz Bank Plc. 97650 861 198 - 98709
25 Coronation Merchant Bank 8 3 13 - 24
26 FBN Merchant Bank Ltd No website found
27 FSDH Merchant Bank No website found
28 Dynamic Standard Bank No website found
29 Development Financial Pruben
Bank
No website found
30 First Rand Not Found in Nigeria
31 Barclays Not Found in Nigeria
32 JPMorgan Chase Not Found in Nigeria
33 Deutsche Bank Not Found in Nigeria
12. Digital Facts 2017 | page@toolzacademy
12
Statistics used in this piece are
drawn from October to December
2016andhavechangedintensand
hundreds of thousands between
December 2016 and March 2017,
according to Toolz Academy’s Top
Ten Social Nigerian Banks Study.
The top bank in this respect is
GT Bank, which are literally miles
ahead of the others in its digital
innovativeness, concept and
delivery.
According to the Financial Brand
Study of May 2017, GT Bank is
fifth on its global index of digitally
compliant banks led by the Bank
of India.
This piece thus looks at what these
banks have done, what is working
and the vista they can still hope to
conquer.
The Financial Brand advocates
that banks should use Social
Media to achieve the following:
1. Peer-to-peer networking and
professional development
2. Listening to their customers
3. Resolving customer issues
4. Corporate Social Responsibility
driver
5. Public relations and corporate
communications
Thus Social Media marketing has
created these:
1. Interactive many-to-many
communication
2. Provision of consumer driven
banking solutions
3. Constantly listening to the
customer
4. 24/7 services – the business
never sleeps
5. Production of engaging content
on their various platforms
The most popular social media
platforms in Nigeria are Facebook,
Twitter, Instagram, YouTube and
LinkedIn, and we periscope the
activities of these banks on four of
these various reports. So, instead
of Market Research, which was the
yardstick of traditional marketing,
it is now Market Reality, as
customers and potential clients
continually leave footprints on
digital sand. Businesses can now
listen and analyse what they
have to do just by being plugged
onto these various social media
platforms.
However, the platforms stated
above are not exhaustive as
platforms like Snapchat, Pinterest,
Wechat, Tumblr and Reddit are
continuouslygrowinginpopularity
as the millennials evolve their
playgrounds using the Integrate
Principle.
13. @toolzacademy Digital Facts 2017 | page
13
The future of
banking revealed
“Today’s banks need to integrate
or bend their business models to
the requirements of customers
and that systems need to be able
to connect to customers through
mobile [digital] interactions.”
- Hugh Connelly, president of
Univest Capital
Bank customers now expect
experiences that are not only
convenient, but also highly
personalized based on a deep
knowledge of their likes, dislikes,
and even their future plans.
Paraphrase a conversation
between a bank account and
its owner in 2022:
A.I – you have N70, 000 saved,
which entitles you to invest in
some bonds and to take a housing
mortgage. Would you like to
proceed?
Account Owner: No. I would love
to go on a holiday to the Maldives.
I hear it is quite colourful this time
of the year…
Remember, this is a conversation
between an inanimate object - a
bank account with its owner.
According to a Cisco Consulting
Services primary research survey
of 7200 retail banking consumers
in 12 countries, customer
expectations for financial
services are not being met.
“Many customers — and not just
tech-savvy Gen Y ones — feel
disconnected from their financial
services institutions.
“They state that their banks do
not know them personally, and
are providing advice only on the
bank’s terms — in the branch,
during banking hours — if at all.
According to a survey, 43% of
U.S. bank customers believe
their primary bank does not
understand their needs while
31% feel their bank is not helping
them reach their primary
financial goals.
According to GT Bank’s digital
strategy committee, the bank
board was not wholly convinced
about this ‘digital’ phase and still
believes in the traditional way of
advertising.
But, having seen the tangible
results, they have gotten to
the point where they are able
to give 50% of their actual
advertising budget for Digital
Communications.
At the start, they also moved a
manager from the traditional
communications to lead the
Digitalarm,thoughtheyrecruited
most of the team that thought up
and executed the strategy, which
has made them No.1 in Nigeria
and Africa and No.5 in the world.
In Nigeria, the Digital marketing
challenge for most of the top
brands is like gambling. Building
a marketing strategy based on
digital insights is still a mirage
because of the pervasiveness of
traditional marketing strategies
and platforms, which is
continually curating results.
So many marketers think that
it is impossible to make as
much sales as is being recorded
presently with the use of digital
marketing.
But, of course, e-commerce has
proven everyone wrong. With
the rise of strictly digital business
and online firms, many brands
are beginning to turn digital.
However, that 360-degree turn
is not so easy for many brands,
which are still struggling to get
even their websites working.
As such, many social media
accounts have been opened just
because the competition has an
account on that same platform.
Retail banks and credit unions
often have a hard time getting
through to anyone under the age
of 35. But financial institutions
building the right content
marketing strategy today can
build lasting relationships with
Millennials, from which they will
reap benefits later.
14. Digital Facts 2017 | page@toolzacademy
14
- Financial Brand
The 7 habits
for an effective
bank’s digital
transformation
A successful digital
transformation requires instilling
the following habits in a bank’s
culture, as described in
“The seven traits of effective
digital enterprises.”
BE UNREASONABLY
ASPIRATIONAL
Set up a challenging and
coherent digital vision (think
of Netflix developing video
streaming in addition to DVD
rental), including steps such as
assigning a board-level digital
owner and creating a digital
profit- and-loss statement.
ACQUIRE CAPABILITIES
Hire staff with the skills needed
for digital transformation
rather than considering only
banking-industry experience.
The best people in digital
product management of user-
experience design may not work
in banking: search adjacent
markets and hire them.
RING FENCE AND CULTIVATE
TALENT
Nurture digital talents with its
own environment and tools,
taking care to protect it from
existing web operations. After
false starts, Walmart ring fences
@WalmartLabs in 2011 and
began to outpace Amazon’s rate
of growth.
CHALLENGE EVERYTHING
Never settle for the status quo.
Bank leaders must aggressively
challenge all aspects of their
business—both customer-
facing and back-office systems
and processes.
BE QUICK AND DATA DRIVEN.
Move to a cycle of continuous
proposition iteration and
improvement, adopting
methods such as agile
development and “live beta,”
supported by big data analytics,
to increase the pace of
innovation.
FOLLOW THE MONEY
Invest in digital across the value
chain. Quickly zero in on the
digital investments that create
the most value and then double
down.
BE OBSESSED WITH THE
CUSTOMER
A healthy obsession with
improving customer experience
and learning from every
customer interaction is the
foundation of any digital
transformation, even for
banks. This must extend to all
channels: customers expect the
same frictionless experience in
the branch as they do online.
http://www.mckinsey.com/insights
15. @toolzacademy Digital Facts 2017 | page
15
Investing
in Digital
Marketing
Tip 1
The main advantage of Digital
Marketing over Traditional
Marketing is that all parts of it are
MEASURABLE!
Tip 2
The best Goals track actions that
contribute to the bottom line of
your business – for example, lead
generating Goals like contact form
completions.
– Digital Marketing Institute
Before the total proposition of
Digital Marketing is adopted by
any brand, especially B2C brands
– they will be best advised
to create a cogent strategy
that would form the basis for
engagement.
A catastrophe online can lead
to greater negative feedback
and can actually go viral before
the damage can be curbed. The
fear should not be about going
digital, it really should be about
whether the plan is a worthy and
achievable one.
Banks need to build popular
platforms that are engaging,
which ultimately means that
they must have content that
delivers value to their audience
on a consistent basis. Content
shared on their platforms should
help relieve the normal stress
associated with the millennials,
Baby boomers and Generation
Xers. They cannot afford to be
left behind in the day-to-day
conversations with their Target
Audience.
This will include: Situation
Analysis, Research, Target
Audience Definition, Objectives,
Tools to be used, Action Plan,
Setting the Budget, Defining the
KPIs, Measurement and Analysis
and then the Iteration and
Enhancement Plans.
If the Digital transformation
strategy does not add to the
bottom line or the plan chosen
cannot be executed for a lack of
capable digitalized minds and
hands - the brand would be best
advised to hold on.
Tip 4
There must always be a call to
action for every Facebook Post –
comment, share, go to the website,
answer a question etc.
16. Digital Facts 2017 | page@toolzacademy
16
Facebook
From the study, it followed that
Facebook with its over 1 billion
users and over 16 million situated
in Nigeria was the most used
social media platform.
The study also found out that
the usage was not as deep or as
engaging as it could have been.
Do not get lost
The tone of Facebook is
conversational and prodding.
Banks must ensure that posts on
Facebook meet the worldwide
standard of urging the consumer
to make a comment or take an
action that could lead to traffic to
the main site.
Facebook is the ultimate social
media platform for storytelling,
for sharing testimonies and for
sharing feedback on the bank’s
products and services.
People are cajoled to share their
stories about the brand and any
positive feedback is hightailed
so that more people see it. That
testimony can then be promoted
to more people and that could
become a brand ambassador.
Any content that is good or
worthy will be shared, as a study
by Contently shows that whilst
millennial minds will share
posts that make them look
knowledgeable, older people will
share posts telling a compelling
story.
Search Engine
Optimization
(SEO)
Search engine optimization
(SEO) is the tactics used to boost
the organic search ranking for a
website on search engine results
pages (SERPS). This employs
the scientific usage of keyword
research and the process of
selecting suitable keywords for a
website, as well as optimization
of content on a web page.
The banks also need to better
understand and appreciate the
importance of Pay-Per-Click
Advertising (PPC), and how it
can be used to effectively drive
quality traffic to their websites.
The process includes the setting
up a Google AdWords campaign
that will be hinged on the three
important elements of keyword
research, ad copy and landing
pages. AdWords campaign
settings and ongoing campaign
management must also be
addressed for a consummate
360-degree campaign.
17. @toolzacademy Digital Facts 2017 | page
17
Facebook is the most popular
social networking platform in
the world with numbers that are
mind numbing. Facebook has
over 1 billion active users in the
world, with Nigeria gaining about
16million of that figure. GT Bank
has seen incredible engagement
increases on the platform from
2013 to the present, as did Zenith
Bank. But the fan growth for GT
Bank, especially on Facebook,
has continued to increase
exponentially with the bank
getting up to 4.9 million likes as
at March 2017. GT Bank boosted
its Facebook engagement by
posting less frequently but more
strategically. This they achieved
by creating both compelling
content [text and video] for
consumers,fansandtheirgeneral
target audience. GT Bank created
new avenues with increased and
enviable engagement growth
and tremendous giveaways.
Twitter
GT Bank, with over 1 million
followers (as at May 2017), has
used Twitter for sensitizing the
public to most of its CSR projects
with continuous engagement
revolving around these events,
ranging from the Principal’s Cup
to Autism, to contests for which
there are commendable prizes.
The language and tone on twitter
is a bit breezy and conversational.
First Bank on the other hand
uses twitter for more customer
service-oriented engagement.
YouTube
Citibank leads this category even
though GT Bank - the highly
digitalized bank owns Ndani TV,
a pseudo pop culture television
station that metamorphosed
from a magazine but has since
become a wholly independent
company – its subscribers would
not be added to the bank’s
numbers.
LinkedIn
LinkedIn is a serious platform
where professionals frolic. The
numbers tell a true story of how
the platform has been used to
engage with consumers.
18. Digital Facts 2017 | page@toolzacademy
18
THE NEXT
FRONTIER
– MOBILE, VIDEO
AND EMAIL
MARKETING
There are more mobile phones in
the world than toothbrushes and
the overhauling emergence of the
Smartphone has ensured that
there is a complete convergence of
all digital marketing platforms on
one device.
MobileMedia–theusageofforms
of electronic media accessed
through a mobile device, such as
a smartphone, tablet or phablet
is going to rise exponentially
in the next two years as more
brands understand the dynamics
of mobile marketing,
Every forward-thinking brand will
have to understand the terms –
mobile optimised website, web-
based applications like apps, as
well as text-messaging or short
message service (SMS).
The Smartphone has capabilities
for: SMS, Camera, Music, Video,
Phone, Browser, GPS, Email,
Office Applications, Social Media,
Gaming, etc., which means that
the device is about the most
powerful tool in the world and
actually run some people’s lives
on a daily basis.
On the other hand, Email
Marketing is a structured process
to deliver marketing messages
to targeted subscribers with KPIs
that are easily measured.
EMAIL
E m a i l
is a
digital
platform that
has not been
extensively utilized
by Nigeria banks despite
t h e fact that there are
approximately 100 million email
addresses in Nigeria alone. This
is one avenue that marketers
in more developed economies
have tried and found to be very
effective for brands to connect
with their target audiences. In
the Americas and in Europe,
statistics show that 66% of
purchase decisions are by the
use of emails compared to just
20% for social media platforms.
The E-commerce shops, like
Konga and Jumia, have explored
and found this to be a veritable
source of targeted marketing
that continues to generate leads
and sales over 7% of the time.
Takeaway
Basically every bank brand
has their Facebook page,
their Twitter handle and their
YouTube channels, but not all of
these brands are engaging their
communities, as they should. A
media expert, who wants to be
anonymous, said that most of
the banks are all for following
trends. These trends, having
been set by other brands, create
a safe passage. However, but
if they really want to become
market leaders, Nigerian banks
must move to foretelling - setting
new digital standards and
heights. The definitive path to
accurate and achievable digital
foretelling comes from making
a succinct study of the current
social trends in Nigeria and the
fact that Nigerians are a very
adaptable lot.
19. CONTACT US:
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+234 (01) 342 4403
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