Background

Nigeria is one of the largest advertising markets in Africa, and outdoor advertising through billboards, vehicle signs, and other means is one of the oldest and most visible forms of advertising. In 2018, outdoor advertising accounted for 28% of total media spend in Nigeria, behind only TV advertising. Despite its wide use, the effectiveness of outdoor advertising has always been more difficult to measure than that of TV and radio, which can be measured through viewership statistics, or online ads, which directly track clicks and conversions. The number of people who see an outdoor ad, how they engage with it, and if they take an action because of the ad later are all metrics that are important but difficult to track for outdoor advertising.

With these factors in mind, the Outdoor Advertising Association of Nigeria worked with GeoPoll to assess the effectiveness of outdoor advertising or out of home (OOH). The study focused on key cities within Nigeria, and examined time spent outdoors being exposed to advertising, the most visible forms of outdoor advertising, and what actions are taken after seeing an OOH ad.

Methodology

This study was run by a mobile web link in February 2020, with 1000 respondents located in Lagos, Abuja, and Rivers. Respondents were randomly targeted from the GeoPoll database, a database of mobile subscribers throughout Nigeria.

Results

Out of Home Activities and Advertising Awareness

It was found that walking and public transportation are the most common forms of transportation in all three locations studied. Generally, people spend two hours a day outside their homes commuting, and we found that vehicle travel goes down on the weekends, while time spent walking increases on the weekend compared to the weekday. The study also found that awareness of billboards is high, with 79% claiming that they had noticed a billboard in the past 7 days, and 63% stating that when they see a billboard they notice the brand or message being communicated ‘all of the time.’

When examining forms of OOH advertising, static billboards emerged as the most visible format, with over 80% of respondents saying they notice billboard advertisements. This was followed by wrapped buses, taxis, and other vehicles in all cities. Wrapped ads were particularly noticeable in Lagos and Abuja.

Out of Home Advertising Effectiveness

The study also looked at the effectiveness of outdoor advertising when compared to other advertising channels including radio, TV, and online. Across all channels, the most common action following ad exposure is searching for more information online; While 74% said they do this for radio, OOH came in second in this metric at 69%. Activations were also analyzed against spend and reach for each channel, and it was found that while the low spend and high reach of radio drives high effectiveness overall, the fragmented nature of radio audiences makes it difficult to capture wider audiences with one campaign. Meanwhile, it was found that OOH is more effective than both TV and online advertising in most measures, including downloading an app, buying the brand mentioned, and recommending the brand to a friend.

Impact

This study demonstrates the high efficacy of OOH advertisements at triggering a consumer response, and finds that overall OOH is the second most effective medium, following radio. Interestingly, OOH is found to be more effective than online advertising, although this medium is expected to continue to grow over time. The Outdoor Advertising Association of Nigeria will use this data to educate the advertising industry on the continued importance of OOH advertising, even as digital channels continue to arise. By using concrete statistics on the awareness and impact of OOH ads when compared to other advertising channels, brands can make more informed decisions on where to invest their ad spend in Nigeria. This reaffirms OAAN’s commitment to proving the value OOH brings into the media mix and dispel the notion that online advertising is a more efficient advertising method.Key Points:

Get GeoPoll’s 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Background

Kenya has been at the forefront of providing digital financial services for over a decade. The proliferation of mobile-based banking and lending platforms has provided unbanked populations with access to financial services and increased financial inclusion by over 50%. Digital lending, which provides people with easy access to loans of various amounts, has been especially popular, and there are now an over 120 digital lending platforms in Kenya. Despite this, until recently the sector had been largely unregulated, and there was little data available on who is taking out loans and how they are being used.

The Digital Lenders Association of Kenya (DLAK) is a new member organization incorporated in 2019 bringing together the leading digital-first loan providers and associated stakeholders to facilitate mutual growth in the digital lending sector in Kenya.
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The main objective of the organization is to set ethical and professional standards in the industry, to collaborate with policy makers and other stakeholders in addressing industry issues, contribute to knowledge and learning and to drive the overall growth of the digital lending and Fintech sector in line with the Economic Pillar of the Vision 2030, MTP III and the Big Four Agenda.

The Digital Lenders Association of Kenya commissioned GeoPoll to conduct a study which aims to better understand the audiences and motivations for digital lending.

Methodology

The study was conducted via SMS in December 2019, with over 4,000 who answered the initial questions and 1,000 respondents who completed the study after indicating they had taken out a digital loan in the past 6 months. There was a 50/50 gender split, and a 70/30 urban-rural split. Respondents were 18+ and located throughout Kenya.

Results

The study found that 71% of over 4,000 total respondents reached had taken out a mobile loan in the past 6 months. While males and females were equally likely to have taken out a loan, those aged 36 and older and those in rural areas were less likely to have taken out a loan than younger, urban populations.

Highlights of the findings include:

• Of those who had taken out a mobile loan, satisfaction levels were reported as high, with 83% saying they were highly satisfied with their mobile lending experience
• Of those who had taken out a mobile loan, satisfaction levels were reported as high, with 83% saying they were highly satisfied with their mobile lending experience
• 88% said they would consider taking another loan out in the future.
• The majority of those taking out loans are doing so for personal use, with 66.5% stating they have taken out personal loans, and 33.5% using loans for business.
• The reasons for taking a personal loan are varied, but 41% used the loan for household expenses or bills, while 23% cited emergency expenses and 20% medical expenses.
• Business loans were primarily used to purchase goods, with 53% of business loans being for goods purchase, and 19% for emergency expenses.
• 84% of those who took business loans stated that there was a growth in their business due to the loan, and 45% said that they would not have another credit option if not for the mobile loan.

The study also demonstrated that consumers are drawn to the convenience of mobile-based lending: Getting loans any time of the day, having loans be approved without paperwork, and receiving money quickly were the most important features to users of mobile or web loans.

The infographic with results can be found here: DLAK Infographic.

Impact

By using a mobile methodology, DLAK was able to quickly reach respondents throughout Kenya who use digital loans to better understand their experiences. This study will be used by DLAK and the digital lending sector to further grow their services in line with the needs and desires of Kenyans taking out loans. “The digital lending sector has grown exponentially in the past few years, and this study demonstrates the universal appeal of fast, easy to access digital loans for a multitude of purposes,” stated Robert Masinde, Chairman DLAK.Key Points:

Get GeoPoll’s 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Background

Cote d’Ivoire is one of Africa’s fastest-growing economies, boosted by recent reforms to the financial sector that have been praised by groups such as the International Monetary Fund. The number of people who have access to financial services has also improved in the past few years. While in 2016, the World Bank found that only one in eight people used formal banking accounts for savings, the introduction of digital financial services has seen an increase in financial inclusion.

With this background, Opinion & Public, a leading public relations firm in Francophone Africa and based in Cote D’Ivoire, sought to understand perceptions of various financial sector services, including mobile money services, commercial banks, mortgage institutions, insurance providers, and more. By examining the factors that affect the performance and uptake of different financial services, Opinion & Public can advise those in the financial industry on the latest trends.

Methodology

A total of 789 respondents from Cote D’Ivoire participated in the study. The gender and age distribution of respondents was 67% male to 33% female, and 34% ages 18-24, 45% ages 25-34, and 21% ages 35 and above. The majority of the respondents were in the 8 to 12 range of the Living Standard Measures. Respondents came from across the country, with 23% located in the financial center of Abidjan.

Results

Results demonstrate the prevalence of non-traditional financial services solutions such as mobile money operators. While 36% reported they were aware of commercial banks, only 15% of the total sample currently use a commercial bank, compared to 40% who were aware of mobile money operators and 22% who currently use a mobile money operator. Insurance providers had relatively high awareness, at 30%, but low uptake, with only 9% of respondents currently using an insurance provider. Microfinance banks, which provide small loans to those who may not otherwise have access to business or personal loans, had 29% awareness, but only 10% currently use these banks.

Banking and Insurance

Of those who use banks, debit cards are more popular than credit cards, with 60% of bank users using debit cards, compared to 36% who use credit cards, demonstrating that credit is still a less common service in Cote D’Ivoire. The study also found that the majority of banking customers are using their banking services monthly or less, with only 11% stating that they use banks weekly or daily. For those who do not use banks, the biggest barriers are a lack of money/finances and unemployment, demonstrating that consumers associate the ability to have a bank account with a higher level of earnings. A majority of bank users, 57%, state that they also use mobile money, showing the ubiquity of mobile money platforms among all segments of the population.

Of the 9% overall who currently have insurance, health insurance and life insurance are the most popular types of coverage. The study found similarities among those who do not have bank accounts and do not have insurance, with the most common reasons for not having insurance being unemployment and lack of finances.

Mobile Money

Mobile money has revolutionized finances in countries such as Cote D’Ivoire. Mobile applications are convenient to send and receive money and are available to consumers at all income levels. This study found that receiving money and purchasing airtime were the most common uses of mobile money applications, with 36% and 21% respectively stating they use these functions. The fast, user-friendly, and secure nature of mobile money transactions are the main drivers for people starting to use mobile money. Of those who do not use mobile money, the main factor is a lack of finances.

Perceptions of Financial Services

In order to examine the perceptions of various financial services in Cote D’Ivoire, this study calculated net promoter scores. Based on responses, respondents were divided into promoter, detractor, and neutral groups. Mobile money services had a much higher proportion of promoters, at 72%, than both insurance companies, with 52% promoters, and banks, at 47% promoters. These findings demonstrate that the perceived ease and availability of mobile money has led to these applications being viewed more favorably than traditional financial services.

For banks, customer service (both good and bad), and reliability and security were among the most cited reasons given for the net promoter scores. Reliability was also cited as an essential factor in the net promoter score for insurance companies. Despite mobile money services being less established than traditional banks, reliability and security were also mentioned when rating mobile money providers. Other features that factored into the net promoter score for mobile money providers included the availability and fast nature of mobile money.

Impact

Opinion & Public is committed to creating a positive narrative around the financial services providers in Francophone Africa and is using this data internally to build strategies to effectively engage audiences in Cote d’Ivoire. Increasing the awareness and accelerating the growth of financial services in Cote d’Ivoire will improve development in the sector and bring financial services to greater portions of the population. This survey provides greater understanding of the perception and use of financial services in Cote D’Ivoire, and will allow banks, insurance companies, mobile money applications, and government authorities to tackle the challenges surrounding financial services in the countryKey Points:

JTNDJTIxLS0lNUJpZiUyMGx0ZSUyMElFJTIwOCU1RCUzRSUwQSUzQ3NjcmlwdCUyMGNoYXJzZXQlM0QlMjJ1dGYtOCUyMiUyMHR5cGUlM0QlMjJ0ZXh0JTJGamF2YXNjcmlwdCUyMiUyMHNyYyUzRCUyMiUyRiUyRmpzLmhzZm9ybXMubmV0JTJGZm9ybXMlMkZ2Mi1sZWdhY3kuanMlMjIlM0UlM0MlMkZzY3JpcHQlM0UlMEElM0MlMjElNUJlbmRpZiU1RC0tJTNFJTBBJTNDc2NyaXB0JTIwY2hhcnNldCUzRCUyMnV0Zi04JTIyJTIwdHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTIwc3JjJTNEJTIyJTJGJTJGanMuaHNmb3Jtcy5uZXQlMkZmb3JtcyUyRnYyLmpzJTIyJTNFJTNDJTJGc2NyaXB0JTNFJTBBJTNDc2NyaXB0JTNFJTBBJTIwJTIwaGJzcHQuZm9ybXMuY3JlYXRlJTI4JTdCJTBBJTA5cG9ydGFsSWQlM0ElMjAlMjIzMjU0MzElMjIlMkMlMEElMDlmb3JtSWQlM0ElMjAlMjI0NWI3YzVmZC01ZGZkLTQzMTMtODgyYS1iYjNkMmZiYTVhMmIlMjIlMEElN0QlMjklM0IlMEElM0MlMkZzY3JpcHQlM0U=

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