Digital Marketing: Insights on the growing industry in Lagos
The arrival of digital marketing has taken advertising to a whole new level globally and the city of Lagos has seen its fair share of this development and, more than ever before, it presents a transformational opportunity which businesses in the city should meet head-on. Online directories have replaced yellow pages and business adverts barely end up on the latest news prints but instead, available online 24/7 to potential customers in far reaches.
There is a significant growth in digital marketing, particularly in Lagos, which will continue to be driven by the explosive consumer growth in volume and duration of time spent online as today’s generation of internet users rely more heavily on smartphones as their primary portal to the World Wide Web. The yearly digital marketing spend also has grown on a year-on-year basis and is presently bigger than print, TV, cinema, radio, and out-of-home combined as young Lagosians have been very receptive to mobile. Mobile will not only be the fastest-growing part of the digital marketing arena, it will come to absolutely dominate in Lagos.
The opportunities that digital marketing presents are enormous with the cost of engagement fairly demanding. Anyone, with even the lowest budget, can do some Digital Marketing and have a chance of getting good results. This presents a huge opportunity for SMEs in Lagos who are nationally driving the economic renaissance. Also, digital marketing offers a high level of measurability, which means businesses can test, learn and improve their ability to tell what sales came from where and their eventual ROI. The industry in Lagos is also an expansive one, filled with opportunities for both those with specialist skills and those with a more general digital marketing skill set.
Despite the glowing statistics, digital marketing, however, is still a mystery to many companies in Lagos, with some thinking it is only about creating a website, whereas that’s merely scratching the surface. To make things more challenging for Lagos businesses, the Digital marketing landscape is constantly evolving which makes getting into digital feel like aiming at a moving target, although, at the end of the day, it is still marketing.
The role of marketers has also shifted according to this global digital trend, creating a new breed of talents collectively referred to as Digital Marketers. Most digital marketers in Lagos tend to start as enthusiasts who learn on their own, from fellow practitioners and also by actually doing Digital in their day-to-day job and then narrow it down to specialise in a branch of Digital Marketing e.g. Email Marketing, PPC, SEO, Social Media, Online PR or even Analytics. But for a while now, the Lagos digital marketing industry has taken note of an escalating shortage of digital marketing skills, which are in high demand, but ultimately in short supply, given the current lack of available training to help Lagos marketers develop their digital marketing skills.
If you stop an average Lagosian on the street, it is highly unlikely that they’ll be able to tell you just what a digital marketer does. Majority of them are blown away by the career opportunities and employment possibilities within the industry. Educating the Lagos youth about digital marketing is, therefore, the first step in catalysing a much-needed surge in the digital marketing industry.
Businesses in Lagos and those intending to penetrate the Lagos market must now focus on integrating Digital Marketing into their overall marketing strategy. That is the opportunity and those who seize it will reap handsome rewards.