Is It Me, Or Are Companies Battling Over Online Video Streaming?

SOON PEOPLE MAY NO LONGER WATCH CABLE TV AS ATTENTION IS SHIFTING TO ONLINE VIDEO STREAMING CHANNELS

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It’s a no brainer that video content amasses the most amount of engagement and interactions (consumption) via online media. According to Cisco, 80% of all internet traffic are generated from video content. Little wonder why a number of companies have begun to battle for mindshare both in Africa and globally in the online video streaming market.

Since this market is still a blue ocean, it means it is not as saturated as it is prospected to be, until then newer players especially big players are expected to keep flooding the market with big bucks to spare.

Talking about new entrants, some big boys have chosen to give Netflix a run for the money. Netflix did a fine job in creating this market and now has over 118 million subscribers worldwide. Before they launched, there were a number of online video streaming platforms but of all of them, Youtube cracked the customer analytics bit of their strategy and brought online video streaming closer to us, especially in Africa. Youtube which according to Oberlo has over 1.9 billion active users monthly, also a total of 1 billion hours of video content is consumed on Youtube daily, while 72 hours worth of video content is uploaded on Youtube daily. This is definitely a trillion-naira market.

Source: Pulse

Source: Pulse

So here is the reason for this article; if you aren’t creating video content, your content marketing strategy is off. Here is why, businesses like Apple, DC, and Roktv understand the necessity of putting out great content – video content – and have entered the market to compete for users with Netflix.

Apple is said to be spending a couple billion dollars over 2018 and 2019 on the development of exclusive original programming. That’s a lot of TV! It’s nothing compared to the $12 billion Netflix spent on content in 2018, but it’s still a very big investment, Macworld. DC universe have been in the business of producing top notch tv series and they aren’t new to the online video streaming business. ROKtv, Startimes and others in Nigeria are currently leading the indigenous African online video streaming market and they are not showing any signs of slowing down.

My friends and family these days no longer remember to watch cable television, they believe that online video streaming channels make the best video contents. Well that’s their thought, what is yours?

PR Can’t Die

CONTRARY TO POPULAR BELIEF, PR IS HERE TO STAY, AND IT IS NOT GOING ANYWHERE

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Over the years there has been a debate around the relevance of PR in the post digital world. There has been major cut down on the use of paper in many large economies of the world and the consumption habit of consumers for text has increasingly shifted from paper to digital. We are more accustomed to bright screens and colourful images, which is totally different from what the newspapers serve us.

Some of have even taken the debate a notch higher by saying PR is dead. I definitely would not spend any time talking about their reasons for this assertion, but the truth is PR cannot die.

Truth be told, the way PR was done in the past has actually transformed into what we know today and as such the PR for tomorrow would equally evolve. To say PR is dead or will die is a strong proclamation in error. We thankful for the digital medium of information dissemination but it will never take the place of PR. As long as there are human beings on earth, as long as there are products to sell, as long as there are brands to promote, as long as there are offices to manage, PR would find its place in the world of marketing and marketing communications.

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There are a number of things PR achieves for us and highlighted below are a few;

PR gives credibility 

Marketers and brands are currently in a battlefield and the fighters aren’t called gladiators but sound-iators. With everyone screaming at you saying “I’m the best, I’m number one, I know what I’m doing” you need PR to authenticate your claims and get your sound beyond the clutter.

Thought leadership drive

A lot of businesses and brands want to be seen as a thought leader or subject matter expert. You may not be able to achieve this drive without the inclusion of PR.

Impacts your bottom line

Your sales and marketing drive are channeled to reach your bottom line. PR helps improve brand trust and compels your customers to believe in the brand whilst engineering loyalty. 

If you thought PR was just another increase in budget or an irrelevant expenditure you may want to rethink this. 

e-Commerce is Breaking Marketing Walls in Nigeria

THIS IS NEW AND ITS TRENDING IN NIGERIA, LIVESTOCK IS BEING SOLD ON THE INTERNET

Source: Jumia Nigeria

Source: Jumia Nigeria

There are no more walls in marketing in Nigeria as there is practically nothing that can’t be sold over the internet.

As the Eid-el-Kabir celebration gradually approaches, Muslims in Nigeria are gearing up and are earnestly preparing for the holy celebration by purchasing rams which are used to commemorate the event. None Muslims are equally as excited because of the public holiday and plenty of meat that comes with the celebration.

The traditional way of purchasing these livestock is to go to those who rear them (shepherd men) and buy them off of them. Now, ecommerce websites have taken all that trouble away by advertising these animals and doing business online.

Source: Jumia Nigeria

Source: Jumia Nigeria

I could not help my excitement the first time I saw this online and I had to make a purchase to be sure it was not a joke and mine is arriving today.

 I wonder if there is anything that isn’t sold online these days. No more walls, no more barricades, there is nothing that can’t be sold online.

Bringing Sexy Back

WHETHER OR NOT YOU LIKE IT, WHETHER THEY OFFEND YOU ON THE ROADS OR NOT, THEY ARE CERTAINLY COMING BACK – SAY HELLO TO BIKES.

Source: gokada.com.ng

Source: gokada.com.ng

Locally

A few years ago, bike-hailing – popularly known as Okada in Nigeria – was scrapped in many cities in the country, particularly the urban areas. All those who were plying their trade in that line of business back in the day either went out of work or ventured into some other type of business to make ends meet. A few years later, some brands who are now the industry’s top market players came on the scene to bring sexy back and this they did in grand style. Feeding off of the back of Uber’s success, severe traffic conditions in the country, and the quest to find new ways to make more money by the Nigerian populace, it was seemingly the right timing for ride-hailing to get back on the scene.

Players like Maxng, Gokada, and Opay have recorded great success and the industry isn’t just attaining mega feats in Nigeria, also globally. The ride-sharing market is booming, and regardless of certain obstacles it has shown no sign of slowing down. The global ride-sharing market is predicted to reach $170 Billion by 2025, up from $43 billion in 2017, according to Adroit Market Research. This growth is making room for new players around the world, challenging market leaders and expanding the original ride-hailing model into a nimble, omnichannel suite of services.

Source: technext.ng

Source: technext.ng

Global Outlook

In China, ride-hailing services are proliferating and pivoting to address a variety of offerings –attracting the attention of big investors in the process. Visa sought a strategic partnership to invest in Indonesia-based ride-hailing startup Go-Jek to build out their in-app payment platform. Go-Jek amassed a $1 billion investment in January 2019 from a host of heavy-hitting tech companies including Google, Tencent and JD.com, aiding the expansion of Go-Jek’s mobile payment and food delivery services. Go-Jek started with a fleet of 20 motorcycle taxis in 2011 and has since expanded to offer a wide-ranging portfolio of services, including transportation and logistics – from the original taxis to shipping and moving services – food delivery and personal care services like on-demand massages, manicures and waxing. Also, In April 2019, Singapore-based ride-hailing app Grab announced a new suite of services for seamless activity planning. The new services allow users to book hotels, purchase movie tickets and stream video on-demand through the Grab app. This rollout follows a collaboration with Chinese insurance giant Ping An in August 2018, making healthcare another potential enhancement of Grab’s omnichannel toolbox, building onto mobile payment, food delivery and online booking (JWTIntelligence).

Source: techcrunch.com

Source: techcrunch.com

This is really interesting as Nigerian players would need to watch their backs. InDriver, a ride-hailing service that launched in 2012 in Russia expanded its reach to Tanzania in 2018 and has announced that they’ll be spreading into countries like Nigeria, Ghana, Zimbabwe, and Namibia. Personally, I can’t wait to enjoy all the benefits that will come from promotional advertising from these heavy hitters.

Marketing and Sales; A Blurred Line Armed with Artificial Intelligence

SOON THERE’LL BE NO DIFFERENCE BETWEEN A MARKETER AND A SALESMAN, THANKS TO AI

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So, me and a couple of my colleagues got into an argument about the differences between sales and marketing and we argued about which was more important. We eventually agreed that they both had their place as they both are important, however, the line that separates them is gradually being blurred out as AI is helping both end of the stick achieve same results in the same time frame. Marketers and salesmen would both be able to build brands over time and also make sales immediately as they are now armed with artificial intelligence.

AI does a couple of things but here are a few;

Data acquisition: one area artificial intelligence (AI) has been able to get right over the years is collecting data. Data has always been a holy grail for both marketers and salesmen as it helps with predicting the next point of action, purchase, and effective marketing strategy to deploy.

Automate repetitive tasks: in marketing there are certain tasks that are repetitive and trust me, they can be extremely daunting to undertake every now and then. AI allows you the opportunity to be more efficient and increases your productivity by availing you the opportunity to focus on more important tasks. A report by Mckinsey further buttresses this point as they say nearly 45% of tasks can be automated to achieve the afore mentioned benefits.

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Create a great consumer experience: what do consumers want? Many times, they want to save time, time is money, they say. Consumers want a vendor that can be swift and equally efficient. The more your brand or organization spends a lot of time dealing with mundane issues the more at risk you are to lose your consumer to your competition who is more agile. AI helps your organization attain agility quicker as it will deal with “mundane” issues while your staff can focus on dealing with consumers who require a more human approach to cater for their need.

Although AI is increasingly becoming the more intelligent with every new update it still doesn’t take away certain processes from staff. To adopt the right AI solution, you or a member of staff must devote sometime to brand audit – understand your strengths and weaknesses, also know what your competition is doing. Next, decisively outline what the desired AI tool should achieve and then adopt one.

In this age where the lines between marketing and sales are getting blurred with each passing second every marketer or salesman must be armed with AI to win.