Business News
Report: Instagram dominates as 22 million Nigerians use internet for social media
More Nigerians are using the internet for personal purposes.
A new report by Terragon Group has shown that more Nigerians are using the internet, with about 63% of them using it for personal purposes.
According to the report Digital Trends for Nigeria in 2018, the total number of internet users currently stands at 100.5 million people, with some 22 million of them actively using social media for a whole lot of activities.
As such, social media is one of the areas with the highest growth rate, even as more Nigerians are adapting to it for digital marketing purposes while also increasing opportunities for brand-consumer interactions across all business verticals.
The exponential growth of social media is followed only by “search”, which is the second most engaging activity on the internet by Nigerians.
Out of all the social media platforms that are available, Facebook maintains the widest reach, with a total of 22 million Nigerians actively using it on a monthly basis. However, in a rather surprising disclosure, Instagram posted higher engagements with 10x higher than Facebook and 84% more than Twitter.
Nigerians have increasingly relied on Instagram for sharing images and short videos, news, fashion and even e-commerce. Small Business have also relied heavily on Instagram for their social media marketing and brand building. The report, however, leaves out WhatsApp, a very popular social media application in Nigeria.
More Nigerian males are accessing the internet, albeit through mobile devices
The report revealed that male internet users dominate the internet space by 58%, with the female folk at 42%. Interestingly, Nigerian men are also more active on all the major social media platforms. For instance, Facebook has 64% male active users, Twitter has 68% male users, YouTube has 69% active male users, and even Instagram has 60%, male users.
Meanwhile, most of the active users access the internet with their mobile devices, so much so that Nigeria ranks as the country with the highest number of mobile users in the world. This, therefore, indicates that one of the best ways to target Nigerians on the internet is through a mobile-first approach.
A changing marketing paradigm
The report also shows that Nigerians are increasingly using the internet for commercial activities more than ever before. This is fueled by digital advertising, which targets millions of Nigerians that are online.
The advertisements come in various forms, even as Nigerians are particularly receptive to ads that come in video forms. Interestingly, internet users in Nigeria are said to purposely look out for video reviews that are related to the products and services that they wish to buy. Consequently, more brands are making use of such social media platforms to reach more people with such ads; leveraging social media influencers in this regard.
Online marketing is also becoming increasingly personalised by “offering consumers
personalised content in order to connect with them on an individual level.”
“The days of mass marketing are dead. It is necessary to incorporate personalisation into marketing strategies by offering consumers content that is tailored to them in order to connect with the audience on an individual level. Businesses also need to exploit analytics for predictive intelligence to anticipate consumer needs and achieve business success.” – Terragon Group
You can read more on this report by clicking here.
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Around the World
Elon Musk loses an estimated $6bn after a Tesla car accident killed two people
Elon Musk’s net worth dipped by $6 billion following a tragic Tesla car accident that killed two people.
The second richest man in the world, Elon Musk, witnessed his wealth shed an estimated $6bn after a Tesla car was involved in an accident that led to the death of two people.
Tesla stocks dropped by 3.8% after the news of the crash went mainstream. The resultant effect on Elon Musk’s wealth was a $5.71bn loss in a single day.
The Accident
Two men lost their lives on Saturday night in Houston when their 2019 Tesla model car slammed into a tree. Police authorities on sight claimed the car might have been on autopilot due to the sitting position of the corpses.
They also struggled to put out the fire from the Tesla car and even called Tesla for help. The death of the two men has sparked a heated argument between Tesla and its critics. Autopilot or not?
Although police officers’ assertion that the car may have been on autopilot remains unconfirmed, it has raised serious uncertainty about the safety of Tesla’s autopilot feature and Tesla’s critics are not backing down on this.
Elon Musk reacts
Elon Musk has reacted to the news, insisting that the autopilot feature in the crashed vehicle was not enabled. According to him, the Wall Street Journal’s coverage of the accident was not professional.
What you should know
Elon Musk is now worth $183bn following the recent drop. He closed the gap on Amazon’s Jeff Bezos to $4bn early last week. The gap has widened to $14bn today.
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