Diamond Bank has again raised the bar in financial services innovation as it is set to unveil Diamond eSUSU scheme, a digitized version of Nigeria’s traditional savings system.
Enjoy saving with friends and Family on the new Diamond eSUSU platform.
That dream house won’t have to wait anymore as Diamond Bank introduces the Diamond eSUSU platform, a contributory and rotating saving scheme where customers can save on a secure platform (Diamond Online) with up to 12 people (friends, family, colleagues), plan collection dates and enjoy the benefit of bulk payment – an interest free borrowing in disguise.
Airtel Nigeria has announced the introduction of its Smart Number service. According to the company, the Smart Number service essentially allows individuals to use an additional line or number on their original Airtel SIM card.
The new package, according to the company, has been designed to empower owners of small businesses as well as separate their professional and personal mobile lines – while maintaining the use of a single phone and SIM card.
According to Airtel, the Smart Number is a virtual number that has been mapped to the customer’s primary mobile line so that both lines can be used on a single phone. The company further revealed that with this service, customers can define and determine the period when the Smart number is made active and reachable.
Apart from the user-controlled option, other features of the Smart Number include voice mail, call transfer and value-added services such as conference calls and group SMS, among others. Also, Airtel customers using Smart Number can maintain privacy and security by screening unwanted calls.
The Airtel Smart Number, which comes in two different packages – Basic and Plus, is available for both pre-paid and post-paid customers. The Smart Number can call or send texts to all networks except international destinations. To make calls or send SMS through the Smart number, the subscriber is required to dial/text 66 before the recipient’s number.
A successful advertisement creates a desire in viewers, listeners or readers. It also provides information on how to fulfill that desire and makes the potential customer feel good about doing so. With so many products and service providers in the marketplace, using a proven technique in your advertising increases the likelihood that your ad Naira will return value. Basic techniques used in propaganda transfer successfully to advertising and remain the most frequently employed.
Repetition is a simple yet effective technique used to build identity awareness and customer memory. Even advertisements using other successful approaches mention the product or company name more than once, particularly in television because its combination of sight and sound, allows the advertiser to disguise the repetition by changing its delivery (from visual to audio). An ad first shown during a football match broadcast for a product called GINX remains the classic example of this advertising technique. Though the advertisement never explained what the product does, viewers remembered its name.
Advertising that promotes specific features or makes claims about what a product or service can do for the potential customers provides successful results by informing, educating and developing expectations in the buyer. Claims can state facts or simply use hype, such as calling one brand of orange juice “the best” when nutritionally it is identical to other brands. Claims may mislead through omission or by using what some advertisers and political campaigners call “weasel words.” These are subtle statement modifiers that render the claim meaningless if studied closely. Common weasel words include “helps,” “fights” and “virtually.”
Associating a product or company with a famous person, catchy jingle, desirable state of being or powerful emotion creates a strong psychological connection in the customer. Sporting equipment companies use successful athletes in their ads, automakers display their cars in front of mansions, brewers show their beer consumed by groups of friends having fun and cosmetic companies sign celebrities to represent their products. These ads encourage an emotional response in customers, which then is linked to the product being advertised, making it attractive through transference.
The bandwagon technique sells a product or service by convincing the customer that others are using it and they should join the crowd. Other bandwagon advertisements suggest that the customer will be left out if they do not buy what’s being sold. These ads often employ “glittering generalities,” words linked to highly valued ideas or concepts that evoke instant approval, which may or may not relate to the subject of the advertisement. “Nigeria loves…” connects patriotism with a product, creating an automatic positive response.
Coupons, sweepstakes, games with prizes and gifts with purchases create excitement, and participation encourages customers to build a relationship with the sponsoring product or service. The attraction of getting something “free” or earning “rewards” makes promotions successful. Limited-time offers and entry deadlines add urgency to this advertising technique’s call to action.
Magnus Nmonwu, Regional Director for Sage West Africa, has told Nigerian companies yet to embrace the digital trend to do so or risk being at a serious disadvantage to their competitors.
Nmonwu said this recently at the Connect Commerce Conference where Netplus Advisory pointed out that e-commerce and online businesses in Nigeria attracted investments worth US$200m over the past three years.
“With more than 93 million Internet users in Nigeria alone (Nigerian Communications Commission statistics), the region’s people form a formidable digital marketplace. In Nigeria, Facebook has more than 15 million monthly active users,” says Nmonwu.
“These Internet users want the speed, simplicity and convenience of buying goods and services right from their mobile phones. As employees, they want mobile and Web tools to help them do their jobs – from anywhere at any time.”
Companies that want to stay ahead of the trend towards online business need to put modern business solutions in place that are ready for the mobility, the Internet of Things, analytics, and other digital technologies that are transforming the business environment, Nmonwu adds.
With the rapid growth of the mobile web, e-commerce and social media in West Africa, leading employers are thinking about how they can use technology to engage with their workforce, the Sage exec adds.
“For example, progressive enterprises are implementing employee self-service to automate business processes while making life more convenient for employees.”
According to Technology Times, He explained that an HR package that includes employee self-service functionality enables employees to apply for leave, file business travel expenses, access payslips and update their personal information from their computers, smartphones or tablets. This saves employees, managers and the HR department a great deal of time and paperwork, while also integrating all these activities into the financial functions of the company.
“With the move to an online world, businesses need to think about how they will adapt. This means that they need to become more agile, access data for improved decision-making and interact with stakeholders in a more personalized manner. In addition to thinking about how they will prepare for mobile customers, West African organizations also need to be ready for digital employees. Those that do the necessary groundwork will be in a strong position to attract, retain, and develop the best talent,” Nmonwu said.
The Managing Directors of Kaymu, Hellofood, Carmudi, Lamudi and Easy Taxi – members of Africa Internet Group (AIG) have identified trust as the greatest challenge faced by e-commerce in Nigeria.
This was stated at the Fireside Chat held by iDea Nigeria, a Lagos-based incubator and accelerator for techpreneurs in Nigeria on Friday October 23rd 2015.
Obi Ejimofo, Managing Director of real-estate marketplace Lamudi.com.ng, opined that the only way to build trust is through consistency. The challenge is to continue to innovate. “At Lamudi we are constantly evaluating ourselves to improve the quality of our agents, our response time, customer feedback and so on. As a result we came up with the Dial4Home, a hotline which enables people speak directly to an operator who will guide them through their property search and more recently the mortgage calculator which calculates the mortgage cost on each property you buy on Lamudi.”
According to Kaymu Md, Sefik, the issue of trust is prevalent everywhere in the world and companies need to come up with ways to earn the confidence and loyalty of their stakeholders. At Kaymu we are passionate about building and maintaining trust within our online community as such we provide cash on delivery as well as online payment solutions through Kaymu Safepay, which serves as an escrow service.
“We are constantly seeking ways to expand Kaymu in the e-commerce eco-system while impacting on peoples lives daily. One of the ways is by removing the distinction between online and offline. We have launched the Kaymu Village within communities, a physical location which accelerates interaction between buyers and sellers. We want to build inspiring stories, like that of Chioma Agha, one of the sellers on our platform who was selected to meet with Barack Obama and so we have created the Entrepreneurs Club which provides a platform for sellers and entrepreneurs to exchange ideas”, Bagdadioglu added.
“A successful business is one that can preserve the trust of it’s customers”, said Adaora Asala, MD of taxi hailing appEasyTaxi. A bad experience with one driver can have an adverse effect on all the other excellent drivers as such we constantly train our drivers in-house and through collaborations with partners such as Google and other government agencies to ensure they maintain acceptable standards at all times.
With Food ordering site Hellofood every order is a miracle, Guillaume Leblond Managing Director stated. People can wait for a few hours, sometimes days to get their clothes or cars or property but with food, they want it hot and on time, hence we have had to pivot into logistics by owning our own delivery bikes to control the customers experience.
In addition we have a dedicated team offering solutions to restaurants to ensure that customers trust us to deliver their food few minutes from the time they ordered it.
Speaking on the one thing every startup needs to get right, Leblond highlighted customer experience while Ejimofo pointed out the need to select a good team. For Bagdadioglu it was ensuring the product provides a solution to a prevalent problem, meanwhile Asala stressed the importance of building a solid operational infrastructure through teamwork.
Managing director of vehicle marketplace, Amy Muoneke advised startups to keep optimizing their products to ensure customers keep seeing the value in their offerings. You need to identify your target market to ensure you are providing goods and services that are useful and relevant to them through the appropriate channels. For instance our target market are people who are actively working towards owing or changing their cars and so our resources are spent marketing to that sector of the market and we are constantly developing new ideas and innovation that allows the buying and selling of cars online via the Carmudi platform easier.’
The event was hosted to connect startup founders in the Nigerian tech eco-system with AIG leadership for the purpose of sharing knowledge, business showcase, product feedback and co-creation.
Barely 24 hours to the deadline for Bank Verification Number, BVN, less than half of the 52 million bank customers have been registered, a development that may have caused discomfort in the banking industry.
Central Bank of Nigeria, CBN, had said no extension would be made while non-registered bank customers would be barred from accessing their money or any transaction in their account after tomorrow.
About 26 million bank customers would be affected by the shut-out.
An official of the apex bank told Vanguard yesterday that the registration window would still be opened after tomorrow, but unregistered customers would not be allowed access to their accounts.
The official, who claimed that the exact figures of registered bank customers would not be ready until next week, however lamented that “less than half of total bank customers have been captured as at Monday this week.
“Field reports show that there has been increased surge in the number of registrations per day since last week, but it is clear that we may not exceed 50 percent by the deadline.”
Managing Director, Ecobank Nigeria Plc, Jibril Aku, had said last month that bank customers who fail to meet the October 31 deadline to enroll on the BVN network will have their accounts frozen.
Aku, who spoke at the end of the 324th meeting of the bankers’ committee in Lagos, said there was no going back on the new deadline set by CBN for customers to obtain their BVN.
He said: “There will be no extension of the October 31 deadline. All efforts have been made by the committee, CBN and Nigeria Interbank Settlement System for bank customers to obtain their BVN.
“The customers, who fail to meet the deadline will not be able to operate their accounts until they comply.”