Fintechs in Nigeria are ramping up their investments in digital payments infrastructure as a key strategy to enhance customer acquisition, according to insights from the ‘Nigeria Fintech Marketing Outlook 2024’ report by Africa Fintech Summit.<\/p>\n
The report highlights that fintech companies surveyed have allocated a significant portion of their marketing budget towards digital platforms, with a staggering 70 percent directed to this channel. This emphasis on digital platforms reflects the prioritization of channels with the highest return on investment (ROI) for customer acquisition, aligning with the competitive nature of the fintech landscape where efficient customer acquisition is paramount for success.<\/p>\n
Across various verticals such as business financial management, merchant payments and Point of Sales, savings and investment, and digital lending, approximately 50 percent of the marketing budget is allocated to other channels. The report suggests that educating potential customers about complex infrastructure solutions may necessitate substantial investment in targeted outreach and content creation, justifying the larger budget allocation.<\/p>\n
Moreover, the report sheds light on the adoption of Generative Artificial Intelligence technology by fintechs to produce diverse content formats, including text, imagery, audio, and synthetic data. This innovative approach allows fintechs to enhance engagement and communication with their target audience, further fueling customer acquisition efforts.<\/p>\n
Looking ahead, the report predicts a growing importance of organic channels such as social media and search engines in fintech marketing strategies for 2024 and beyond. As consumer behavior evolves and digital adoption accelerates, fintechs are poised to leverage these channels to effectively engage with potential customers and drive sustained growth in the competitive fintech landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fintechs in Nigeria are ramping up their investments in digital payments infrastructure as a key strategy to enhance customer acquisition, according to insights from the ‘Nigeria Fintech Marketing Outlook 2024’ report by Africa Fintech Summit. The report highlights that fintech companies surveyed have allocated a significant portion of their marketing budget towards digital platforms, with […]<\/p>\n","protected":false},"author":12,"featured_media":25201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[180],"tags":[],"class_list":["post-25200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/25200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=25200"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/25200\/revisions"}],"predecessor-version":[{"id":25243,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/25200\/revisions\/25243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/25201"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=25200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=25200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=25200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}