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Brands Can Now Advertise on Jumia’s Platforms

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Jumia ecommerce
  • Brands Can Now Advertise on Jumia’s Platforms

Nigeria’s leading e-commerce platform, Jumia, has opened up its e-commerce platform to brands and corporate organisations to advertise.

The company’s Head of Growth & Partnerships, Olusegun Martins who made the disclosure recently during an exclusive interview with MARKETING EDGE, said: “Our platform is one of the most visited in Nigeria and Africa. We are in 12 countries of Africa, and in each country, we serve consumers absolutely everywhere. We are much more than “e-commerce”, we have hotels, flights, restaurants, classifieds portals, and many more platforms, which give us even more data and more ability to target the right audience for brands looking to reach a wider and more targeted audience.”

In 2018, page views on the Jumia website reached over 700 million, but now averaging over 90 million views per month.

“We have bespoke solutions for various needs. We can help brands build awareness, consideration, engagement, sales, even multiple products to tap into. We can segment users in a very unique way based on their real shopping interest at the most granular level. We help brands to target users geographically in the most effective way. We have run very successful campaigns in multiple countries and advertisers who choose Jumia can decide to allocate recurring budgets to our platform,” Martins continued.

Martins further disclosed that Jumia digital advertising platform is growing very fast. Every day, more users access Jumia and use it as a source of research, inspiration and shopping. “No other platform is growing faster,” he said.

Its campaign reporting tools are objective and independent. Jumia is adapting the model of the leading e-commerce platform in the US, Amazon.

“We have an online shopping audience. Amazon Advertising is growing very fast because brands and advertisers see it as a great alternative for other advertising channels, “he added.

Martins informed that the decision by Jumia to veer into the advertising business space arose out of the popular demand by various customers of the company who had long been yearning to have an advertising platform owned by Jumia to expose their services and brands.

According to him, over the last seven years, Jumia had remained one of the top 10 most visible websites in Nigeria, adding that the clamour by customers for an advertising platform from Jumia was on the increase, hence the decision by the company to give it a try this year.

“We decided to open our platform starting from last month (October). There is a huge opportunity for brands to showcase their services and products to our audience and that is why we opened our platform. The way we want the brands to look at it is to think of Jumia as a search engine. The perception is that people come to Jumia to buy only. This is not entirely the case. A large chunk of people that come to Jumia come to make informed decisions; at that point when they are searching, their minds are receptive to whatever communication is available. So, people need to look at Jumia as a search engine,” Martins said.

Throwing further light on who are the target audience for the new advertising platform, the Jumia boss observed that every brand that aims to reach Nigerians was a possible target.

According to him, Jumia has already established a close working relationship with a few strategic agencies who have indicated long term interests in partnering with the company over the new advertising platform.

Martins continued: “We have always made it possible for sellers on Jumia to be able to advertise and all our vendors know this. But over the last couple of years, we have been getting inquiries from banks, insurance companies, telcos and different sectors of brands who don’t necessarily sell on Jumia but are interested in reaching their targets by placing an Ad on our platform.

We want to enable brands to reach out to people we call “quality audience” because the people that are coming to shop on Jumia are not just there to look around. They are at an advanced stage of the purchase funnel. They are in an active mode of purchase and at that point in time, they are receptive to communication.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

Flutterwave Celebrates Inclusion in CNBC’s Top 250 Global Fintechs

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Flutterwave has been recognized as one of the Top 250 Fintech companies globally by CNBC and Statista.

Joining the ranks of industry giants like Ali Pay, Klarna, Piggyvest, and Mastercard, this accolade underscores Flutterwave’s impact on the financial technology sector.

This honor follows Flutterwave’s recent inclusion in Fast Company’s Most Innovative Companies list, highlighting the company’s pivotal role in transforming Africa’s payment landscape.

The recognition is a testament to Flutterwave’s dedication to innovation and excellence in providing seamless payment solutions across the continent.

Expressing gratitude, Flutterwave acknowledged its talented team, supportive board, reliable partners, and loyal customers for contributing to this success.

The company continues to drive progress in the fintech industry, reinforcing its commitment to enhancing financial accessibility and inclusion in Africa and beyond.

Flutterwave’s recognition on these prestigious lists marks a proud moment and a significant milestone in its journey, reflecting the company’s growing influence and leadership in the global fintech arena.

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Startups

Google Leads $250 Million Funding Round for Glance

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A logo is pictured at Google's European Engineering Center in Zurich

Google is leading a $250 million funding round for Glance, a mobile content provider.

This infusion of capital aims to expand Glance’s reach and solidify its market position amidst growing competition.

Glance, a subsidiary of InMobi Group, offers a unique service that delivers news, entertainment, and other content directly to users’ mobile screens without unlocking their devices.

With a user base exceeding 300 million across India, the US, Japan, and Indonesia, the startup has gained significant traction since its inception in 2019.

The funding round, expected to close in the coming weeks, marks a continued partnership between Google and Glance.

Google initially invested in the company in 2020, and this latest round will further enhance Glance’s capabilities to innovate and reach new audiences.

This investment reflects Google’s strategic interest in India, the world’s most populous nation, where it competes with tech giants like Microsoft, Meta, and Amazon.

With India’s rapidly growing middle class and increasing smartphone adoption, the market presents vast opportunities for digital expansion.

The support from Google comes on the heels of a previous $200 million investment by Mukesh Ambani, Asia’s wealthiest individual, which valued Glance at over $1 billion.

The startup’s largest stakeholder, InMobi, continues to thrive as a pioneer in mobile advertising, with Glance benefiting from its expertise and resources.

As Glance prepares for this new phase of growth, it stands poised to redefine how content is consumed on mobile devices worldwide.

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Technology

Cyber Threats Surge as Nigeria’s Digital Economy Expands

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cybercrime - Investors King

As Nigeria’s digital economy flourishes, it faces escalating cyber threats, prompting the Federal Government to issue 33 cyberattack advisories in the past year.

These warnings, issued by the Nigeria Computer and Emergency Response Team (ngCERT), highlight the growing vulnerability of the nation’s digital infrastructure.

Since July 2023, ngCERT has alerted Nigerians to new attack methods and vulnerabilities. With 22 advisories issued in 2024 alone, the surge in cyberattacks coincides with the accelerated digitization spurred by the COVID-19 pandemic.

Monthly internet usage in Nigeria soared from 125,149.86 terabytes in December 2019 to 753,388.77 terabytes in March 2024.

The National Information Technology Development Agency (NITDA) notes that increased digitalization has heightened cybersecurity risks, necessitating robust protective measures.

According to Check Point Research, Nigerian businesses face approximately 2,308 attacks weekly across all sectors.

The advisories reveal various cyber threats, including ransomware and banking trojans. A recent warning highlighted Grandoreiro, a malware targeting over 1,500 banks globally, affecting 41 banking applications in Nigeria alone.

These attacks aim to steal sensitive financial data, potentially causing significant financial losses.

Nigeria’s critical infrastructure is also under threat. In August, pro-Nigerien hackers attempted to disrupt MTN Nigeria’s network, although they were unsuccessful.

During the 2023 elections, the government recorded 12.99 million cyberattacks, underscoring the scale of the threat.

Cybercrime costs Nigeria about $500 million annually. This includes data damage, stolen money, lost productivity, and post-attack disruptions.

The Federal Bureau of Investigation ranked Nigeria as the 16th country worst affected by cybercrime in 2020.

Experts emphasize the need for stronger cybersecurity measures. Adesina Sodiya, a professor of Computer Science and Information Security, warns that cyberattacks will continue to grow in sophistication.

He stresses the importance of building a cybersecurity curriculum and involving experts in creating effective strategies.

In response, NITDA plans to reduce cyberattacks by 40% by 2027. “As we digitize, we must build with security in mind,” said Kashifu Inuwa, director-general of NITDA.

The agency aims to implement comprehensive strategies to protect Nigeria’s burgeoning digital economy.

As Nigeria’s digital economy expands, it must address the growing cyber threats that accompany this progress. By enhancing cybersecurity measures and fostering collaboration among stakeholders, Nigeria can safeguard its digital future.

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