Social Media Usage by Banks in Nigeria
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The document discusses the importance of social media for banks in Nigeria. It notes that traditional advertising is no longer as effective, while social media usage is rising rapidly. Research shows that Guaranty Trust Bank leads among Nigerian banks on social media. The document advocates for banks to invest in social media strategies in order to see returns in areas like web traffic, new customers and revenue. It provides a framework for calculating the ROI of social media marketing investments.
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Social Media Usage by Banks in Nigeria
- 3. “Social Media is the BIGGEST shift since the Industrial Revolution” Erik Qualman, Socialnonmics
- 4. • The Old Way of Advertising is no longer working Like it used to. • 86% of viewers don't trust traditional advertising any longer • The Largest Newspapers are Experiencing Record Declines in Circulation • Only 18% Of traditional TV campaigns generate a positive ROI • 96% of Millennia's have joined a social network. • Social Media is the number one ACTIVITY ON THE WEB Why Social Media
- 5. How fast is Social Media CATCHING ON?
- 6. 38 YEARS To reach 50 million listeners RADIO 13 YEARS to reach 50 million viewers TELEVISION 4 YEARS To bring 50 million people online INTERNET 200 MILLION IN LESS THAN 12 MONTHS! FACEBOOK
- 7. What are people saying about your brand on social media?
- 8. The average user spends more 55 minutes a day in Facebook alone which results to 6.5 hours a week
- 9. Companies that are both deeply and widely engaged in social media significantly surpass their peers in both revenue & profit Studies show that company sales with the highest levels of social media activity grew on average by +18% While those companies with the least amount of social media activities saw their sales decline by -6% +18% -6%
- 10. Facebook Usage by Banks in Nigeria
- 11. Research proves that GTBank is leading in Social Media within the banking industry in Nigeria. Don’t be left behind, join the train.
- 12. ROI Investment ₦ ₦ •Time •Manpower •Technology •Expertise Implementation •Developing Strategy •Embedding Social Media in integrated marketing campaigns •Building relationships •Learning Impact •Web Traffic •Conversions •Impressions •Social mentions •Press •Fans/Followers/Fri ends Financial Gain ₦ •Revenue •Transactions •New Customers
- 13. Prepared by Jide Ogunleye 07062021183 jide@jideogunleye.com babjideogunleye@gmail.com meetfido22@yahoo.com