mobile money and social media in africa

This document is offered compliments of BSP Media Group. www.bspmediagroup.com

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MOBILE MONEY AND SOCIAL MEDIA IN AFRICACase Study from Nigeria Vytas Paukstys, CEO

Eskimi

WHAT IS ESKIMI?

MOBILE -FIRST SOCIAL NETWORK TO MEET NEW PEOPLE

FOUNDED 2010

LARGEST MARKETS IN WEST AFRICA

MOBILE MONEY MARKETING PLATFORM SINCE 2012

ESKIMI2nd largest mobile destination in Nigeria

14+M members worldwide

7.7+M members in Nigeria

More than 10 million members from Africa!

1+M members in Ghana

1+M members in Kenya & SA

ESKIMI B2B STRATEGY

ADVERTISEMENTFOR BRANDS

VAS & DATAFOR MOBILEOPERATORS

MOBILEMONEY

MARKETING

ESKIMI B2B STRATEGY

ADVERTISEMENTFOR BRANDS

VAS & DATAFOR MOBILEOPERATORS

MOBILEMONEY

MARKETING

CONTEXT: FINANCIAL PROFILE OF NIGERIA

Population 177M

Bank accounts 29M

Mobile subscribers 111M

Mobile money users 6M

CONTEXT: 3 YEARS AFTER LAUNCH

Nigeria Kenya

mobile money users

6m 12m

% from total mobile subs

5% 40%

MEDIA IN AFRICA

IS MOBILE!90% of SOCIAL MEDIA users are

mobile and spend more than 3 hours per day online

SOC. MEDIA AUDIENCETOP 10% OF NIGERIAN

POPULATION BY DOMESTIC INCOME

KEY STATEMENT: MOBILE MONEY ROLL-OUT HAS TO STRONGLY INCLUDE SOCIAL MEDIA

REASON 1: SOCIAL MEDIA AUDIENCE ARE MOST LIKELY TO USE MOBILE MONEY

URBAN

TRANSACTING NOW

TECH-SAVVY

SOCIAL MEDIA AUDIENCE

SOCIAL MEDIA IS URBAN

91% 9%

of users are in the cities

of users are outside the cities

SENDING MONEY NOW

82% of urban residents send money to their families in rural areas.

SENDS MONEY MONTHLY, BUT PREFERS WEEKLY

76

16

1

35

47

12

Monthly Weekly Daily

How often do you send money? (%)

Bank Recharge cards

REASON 2: SOCIAL MEDIA HAS DATA, ENGAGEMENT AND EDUCATION TOOLS

SOCIAL MEDIA USERS ARE ENGAGED!

3 hoursAVERAGE USER SPENDS UP TO

3 HOURS ON SOCIAL MEDIA EVERY DAY!

Social media already has data about users to acquire and retain them!

USEREDUCATION

USERACQUISITION

USERRETENTION

USER RETENTION

Develop a step-by-step process for the users coming back every day

Push retention messages like “change your pin”, “make your first transaction”, “invite your family” already from the NEXT DAY

Incentivize actions to make learning process easy and engaging

CHANGE YOUR PIN

UPLOAD MONEY

INVITE A FRIEND

USER RETENTION

Localize the experience and make it easy for the user

“You can upload money to your wallet at these agents around you in Ikeja, Lagos”

LOCATION

SOCIAL MEANS SHARINGUse the social graph on social media to drive recommendations and invites.

INVITATIONSTO JOIN

RECOMMEND-ATIONS

AUTOMATIC POSTS

SHARINGPOSSIBILITIES

SOCIAL MEDIA MOBILE MONEY USERS ARE MORE ACTIVE

36% acquired through social media with retention tools

acquired through traditional media with SMS retention

4%

SUMMARY

• SM audience is more effective to roll-out mobile

• SM is the closest, most personal and engaging media

• SM solves user retention & usage