Connect with us

Technology

Global survey reveals 85% of PR practitioners are missing out on effective PR tools and techniques

Published

on

Executive positioning & stakeholder analysis

  • 80% of PR corporate positioning for senior executives globally is not driven by social media analytics
  • Less than 10% of C-level executives use social listening tools for reputation management
  • Only 15% of global PR professionals use social listening tools for newsjacking
  • The survey also revealed regional differences between PR offerings, ROI metrics, and influencer marketing – benchmarked against a global average

New York, 04/02/2020. Key areas where PR professionals can unlock a competitive advantage in 2020 have been highlighted in new research released today. Leading social listening and analytics platform, Talkwalker, joined forces with global market research and data analytics firm, YouGov, to gather data from 3,700 marketing and communications professionals based in Europe, USA, Africa, Asia-Pacific, Latin America and the Middle East to release new research about the industry.

Talkwalker’s Global State of PR report reveals how different regions define “PR” and how communication departments can not afford to be siloed anymore. It highlights the different ways in which PR professionals use social listening tools in their day to day work, and which metrics they currently measure. This revealed that they are creating significant value in their role by increasingly embracing social listening for media management, influencer marketing, and real-time online crisis and reputation management.

The global adoption of social listening and analytics in the industry was reported at 48%. Countries with the highest reported use of social listening tools include France (75%), Italy (72%), United States (71%), South Africa (71%), and India (68%). Conversely Sweden (25%) and Norway (28%) reported the least use.  While nearly half of PR professionals globally confirmed that their companies use social listening tools, only 15% of them utilize them for newsjacking – a huge missed opportunity, considering newsjacking is widely considered as a PR technique that can drive mass coverage and influence sales in a measurable way.

The global users of social listening tools in the marcomms industry have traditionally been social media managers and data analysts – Talkwalker’s 2020 Global State of PR report reveals that PR account managers, executives, coordinators, directors, and vice presidents together accounted for 33% of global users. This represents an interesting development for the PR industry as it maximizes the potential of social listening to protect, measure & promote brands.

Shockingly, however, the report also revealed that C-level executives account for only 8% of global users of social listening tools in the industry, despite reputation and crisis management being critical to this role in the PR industry.

Also Read: How Tech Is Enhancing Recruitment: An Interview With Sandy Simagwali, Co-Founder Of Graft Africa

Finally, as influencer marketing has evolved into a key opportunity for marketers today – worth up to $10 billion in 2020 –  Talkwalker asked PR professionals how they engage with influencers, who they engage with, and which metrics they measure to prove ROI. The biggest surprise was that the industry is not actually dominated by Instagram, as many would think. For B2C influencer campaigns, 70% of PR professionals used Facebook to engage with influencers, compared to 68% using Instagram.

influencer campaign platforms

In Africa, Facebook is used even more for B2C campaigns (81%) but is followed by Twitter at 67%. When it comes to B2B influencer campaigns in Africa, Twitter overtakes Facebook at 89% versus 71%, respectively. PR professionals were also quick to jump on the fairly new social media platform, TikTok, with 8% using it for B2C influencer campaigns and 4% for B2B influencer campaigns. Africa is slightly ahead with adoption of TikTok for B2C campaigns at 10% whereas B2B influencer campaigns have only been tried out by 3% of the region’s PR professionals.

“The PR landscape has certainly undergone a lot of changes to keep up with today’s shift to digital. It is a very exciting time for the industry with plenty of untapped potential for PR professionals to go fully social and unlock the huge benefits that social PR strategies could offer,” said Robert Glaesener, Global CEO at Talkwalker.

“We strive to offer PR and Communication professionals cutting edge solutions in the social listening and analytics space, empowering them to protect and optimize their brands’ reputation globally.  Most recently, we launched Conversation Clusters, a data visualization tool that maps topics visually from millions of social media conversations, enabling PR professionals and marketers to easily uncover and exploit stories, trends and content that can be leveraged in communication and PR campaigns.”

For more data from Talkwalker’s 2020 State of PR survey, with detailed regional analysis, download the complete report here.

Talkwalker

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business Home

A ‘second renaissance’ for African payments post COVID

Published

on

By

African payments is fast becoming a ‘gold-standard’ for payments worldwide, and COVID is set to accelerate both the value and funding available to this segment across the continent. Since M-Pesa launched in Kenya, the proportion of Africans (particularly East Africa) paying by mobile has exceeded every other emerging region. In Africa, perhaps more than anywhere else, ‘mobile first’ has given way to ‘mobile only.’ 

Another attraction is, perversely, COVID. Digital businesses across the continent are normalizing the use of payment technology and money transfer in the informal economy (i.e. the part of the economy that is neither taxed nor monitored by any form of government) out of sheer necessity. To encourage the shift, leaders such as Kenya’s largest teleco, Safaricom, have implemented tactics such as a fee waiver for M-Pesa (East Africa’s leading mobile-money product), to reduce the physical exchange of currency and drive increased adoption.

Across the continent there is a renewed drive to reduce reliance on cash. Meanwhile payment data value is only now being leveraged, which sets the stage for creating another ‘value peak’ for emerging African payments vendors in the near future.

This is a perfectly ‘natural’ response for economies with large informal sectors, still-low average  transaction values, and a large proportion of transactions for essential goods and services. The IMF, in its April 2020 World Economic Outlook, recommends countries with large informal sectors further develop their digital payments systems. These systems “may provide an opportunity to improve the delivery of targeted transfers to the informally employed.”

In the coming ‘renaissance,’ what are African payment players doing to differentiate and position themselves for the next stage?

Insights from Leading African Payments Players

Hybrid and Pure-Play Payment Players

African payments companies take two broad forms.  The first is ‘pure play,’ generally based on Payment Service Provider (PSP) functionality. These vendors run a defined set of services and leverage partnerships to achieve scale. The second are hybrid vendors, who are more vertically integrated, usually offering a broader range of services off their core technology stacks:

  • Examples of pure-play: Direct Pay Online, Interswitch, Paystack, Flutterwave.
  • Examples of hybrid: Cellulant, Pesapal, Paga, Jambopay

The definition is important to distinguish as it impacts strategic direction of any company, which would also directly affect the set of longer term buyers or investors for each of the companies.

Winning SMEs & Agent Distribution/Network

Winning in African payments generally means winning the SME sector. There are very few true enterprise corporates, and a significant number of sole-proprietor businesses across all sectors.  The fragmentation of the potential customer base is so much greater than in other fast-growing regions that many payments companies need to adopt a broader ‘ground game’ to target, connect, engage, and maintain a broad SME customer base, often across quite different markets.

To effectively target SMEs, direct selling, agent distribution or agent networks are crucial for payment players, particularly in West Africa, due to the lack of infrastructure. Over the last 10 years, M-Pesa’s rise was closely associated with Safaricom’s dominance in Kenya (70% mobile market share), its broad and tied agent network across the country, and the focus applied to rolling out this service broadly. 

In West Africa, the continent’s largest prize, the market is deeply fragmented, ATMs are virtually non existent or not functional (Nigeria has < 20,000 working ATM’s), and for many of Africa’s 1 billion+ population agents of various forms are the main or only means of transacting effectively. Companies such as Paga and Kudi already demonstrate the requirement for, and value of, developing and maintaining a broad enough agent network on which to drive scale and reach.

Broader number of use cases

Creating and maintaining an agent distribution network is expensive.  The ‘quid pro quo’ are a broad range of use cases enabled as a result, and the first-mover margins available to payments companies which can scale this way.  Across the continent, agents are used for cash in/out, remittances, bill pay, payment for utilities and power, and the purchase of basic goods and services.  While many of these remain cash transactions that are then converted to digital, increasingly payments companies are linking services to make transactions end-to-end digital.

Another benefit for creating broad based agent/direct distribution is that payments companies often can achieve higher margins on transactions than almost anywhere else.  Its not atypical for take rates to be 2x+ what they would be in more competitive markets like India, and even at those levels they are still far below other alternatives. For example, the avg cost of transferring $200 via a bank transaction can exceed 10%, and in remittances many emerging digital players can charge 2x ‘normal’ take rates and still reduce the cost to consumers significantly vs traditional services such as Western Union.

Digital works for payments companies, and for consumers, and the higher take rates are simply a function of the challenges and costs of reaching such a distributed, informal customer base.

Data Value

In developed markets, data value is nearly always under-leveraged within payments providers.  Many have built legacy systems that cannot easily adapt to actioning data insights to deliver value to customers, and increase margins significantly. An African ecosystem only now being built has the incalculable benefit of ‘starting with a clean sheet of paper’ in terms of realizing the value of data earlier and more completely.

As a result, intelligent leverage of data and insights from an early stage could vault the strategic value of payment players to an entirely different level than current valutions. And since in the data monetisation game, ‘better data always beats better algorithms’, it is our view that many African payments companies are sitting on a large and growing ‘gold mine’ of proprietary insights on customer and SME behavior which can be leveraged in many ways to drive margins. 

In time, many payments vendors will have greater insight into consumer spending habits to deliver targeted offers via mobile in a way which is simply impossible to envision in developed markets, where that ecosystem is already dominated by much larger incumbents. For example, both Square and Stripe have introduced and expanded significantly in the financing area.

Square extended almost $700m SMEs loans per quarter in Q4 2019, highlighting the massive market potential. The point is that through the value of data and insights, many African payments companies can grow value well beyond pure payments value, because what they are ‘seeing’ are truly unique insights.

Capital Efficiency & Unit Economics

Because of structural inefficiency in Africa (‘reinventing the wheel’ is by definition required as there is no ‘wheel’ of infrastructure that functions successfully today) there is a degree of inherent capital inefficiency presumed to be required to get to minimum size to scale.  Second, targeting SMEs and consumers is inherently more expensive than enterprise sales, with higher churn, greater cost to acquire and service, and a still-limited ceiling on realistic customer lifetime value.

Also Read: Viero: A SaaS Platform Enabling Entrepreneurs Create Food Delivery App Without Code In 60 Seconds

We see that emerging African payments leaders go through different stages of capital inefficiency.  For most, there is a multi-year period of greater inefficiency, as basic vertical integration is built. However, once companies pass a ‘tipping point’ of scale, rising take rates, and the leverage available from layering on additional services and use cases quickly turns that inefficiency into a highly capital efficient set of assetsIt is particularly important to distill, frame, and articulate these metrics as investors / buyers value a ‘perpetual motion machine’ that targets, acquires, services and ‘up-sells’ customers.

Having a well-crafted set of unit economics also underscores the value of the existing and prospective customer base, and validates the ‘ground game’ execution strategy of local distribution across Africa. Buyers of equity can also rationalise paying more upfront because there is no significant $ required to subsequently drive customers to profitability.  This transition from inefficiency to hyper-efficiency is a key element of story telling for African payments companies to sell equity at rising prices.

Conclusion

Africa presents maybe the biggest payment opportunity in the world today. For companies with some degree of scale, they have already done much of the hard work to generate long term embedded value, and only now are many starting to see the benefits of high marginal unit economics.  With more capital, and compelling equity stories to tap the next generation of larger investors, we see several potential ‘unicorns’ emerging in the space in the next 5 years. M-Pesa and Interswitch are only the tip of the (value) iceberg.

Credit: Magister Adivors

Continue Reading

Afripreneur

Viero: A SaaS Platform Enabling Entrepreneurs Create Food Delivery App Without Code In 60 Seconds

Published

on

By

Viero & Zistify Founders, Basheer Phiri and Hopewell Fakude

Launching a food delivery start-up requires an entrepreneur to manage 4 aspects; Restaurants, Delivery Agents, Customers, and the most costly of them all, an application. Building a food delivery application can cost up to $60 000. There are also additional costs that need to be paid on a monthly basis to maintain and improve the application. “This is a major barrier to entry into the food delivery industry in Africa” said Basheer Phiri, the founder and CEO of Viero.

“Because of these high costs, we see a lot of food delivery Startups all over Africa serving the urban market, because it is big, and has enough customers to cover the development and maintenance costs and make a profit.” Basheer believes that food delivery Startups do not target township and non-urban areas because these markets need to be built from the group up, which means additional marketing costs and slower growth and adoption rates.

Therefore, coupled with the need to cover maintenance costs and the demand for growth and traction from investors, food delivery Startups prefer competing in the already established urban markets. This has led to high concentration in urban markets while non-urban markets remain relatively untapped.

“We saw this and realised that there was value that could be created” said Basheer. “After speaking to a few interested entrepreneurs, we saw that they could manage every aspect of the food delivery business, but could not afford to pay for an App. That is how Viero was born”

Viero is a SaaS Platform that enables entrepreneurs to create a food delivery web application with no code in 60 seconds. (Here’s how it works – https://youtu.be/1T9oxNtRDpM).

The platform built a standard food delivery application template and enables it to be cloned, rebranded and hosted through white-labelling. Entrepreneurs can use the application under a monthly subscription and have access to many features depending on their chosen plan. Entrepreneurs can also make changes to the layout and design of their app, all without any code.

Launched in South Africa on 1 June 2020, the platform has achieved amazing uptake thus far. 22 Apps in total have been created with 2 Food delivery Startups that are live and operating in South Africa and 20 other Startups preparing for launch. 108 orders have been delivered, with R4700 processed in transactions, 200 customer users, 16 listed stores and 45 delivery agents. 

Viero was launched by UCT students Basheer Phiri and Hopewell Fakude. They met in their first year in 2018 as residents of Smuts Hall Residence at The University of Cape Town, when they were introduced by a mutual friend who noticed their passion for entrepreneurship. Since then, they have worked together on several Startups and projects.

Also Read: Radisson Hotel Group announces new appointments to drive its expansion for Africa

Basheer and Hopewell are not new to the food delivery industry. In 2019, they launched Zistify, a food delivery start-up for the university market. Zistify delivers food ordered from food vendors on campus through it’s app to university students and staff. 

Viero is in capable hands and is ready to disrupt the food delivery industry in Africa. Currently raising a $100 000 seed round to incorporate logistics into its business offering, to bring in more talent to the team, and to continue building and improving the platform.

Connect with them here Website|Instagram|Twitter |Facebook

Continue Reading

Technology

HUAWEI CLOUD, A Leading Tech Giant Partners AI Expo Africa 2020

Published

on

By

HUAWEI CLOUD has joined AI Expo Africa 2020 as a headline partner. The annual event is Africa’s largest artificial intelligence (AI), data science and Robotic Process Automation (RPA) trade-focused show and conference. The third edition of the expo, which will be held as a virtual event this year, will take place on 3 and 4 September.

Besides making the show more inclusive, the new format will make it easier for African startups and innovators to join the event along with European, US, Middle East and Asian companies seeking to enter the African market and unlock new customers and distribution partners.

HUAWEI CLOUD has more 30 years of technological know-how, innovation and expertise in ICT infrastructure. With over 200+ cloud services across 18 categories, the firm’s affordable and inclusive AI services enable enterprises to grow in a stable, secure and progressive environment.

The tech giant spans many availability zones within geographic regions around the world, with global data centres in Johannesburg, Bankgok, Singapore, Sao Paolo, Buenos Aires, Lima, Santiago, Mexico City, as well as in China. Its recent successes in the AI field include the implementation of a new automated traffic system to ease congestion in Nairobi, Kenya.

HUAWEI CLOUD has also developed more than 60 general purpose solutions such as SAP, HPC, IoT, security, DevOps and OPv6, and over 80 industry-specific solutions for various sectors like manufacturing, e-commerce, gaming finance, Internet of Things (IoT) as well as Internet of Vehicles (IoV). In addition, HUAWEI CLOUD provides a powerful computing platform and easy-to-use development platform to support Huawei’s full-stack, all-scenario AI strategy.

HUAWEI CLOUD is the latest in a string of international firms and organisations that have signed up as as sponsors and will be exhibiting at AI Expo Africa 2020. These include UK-based RPA pioneer Blue Prism, and US-based cloud customer experience market leader Genesys.

The initial AI Expo Africa 2020 speaker line-up is led by Kay Firth-Butterfield, Head of AI and Machine Learning at the World Economic Forum; Neil Sahota, IBM Master Inventor, UN AI expert and lecturer at University of California, and Fred Werner, Head of Strategic Engagement at the International Telecommunication Union, and Bayo Adekanmbi, CTO MTN Nigeria and founder of Data Science Nigeria.

Other confirmed keynote speakers now include; South Africa’s Minister of Communications, Telecommunications and Postal Services Stella Tembisa Ndabeni-Abrahams; Prof Tshilidzi Marwala, and Vice-Chancellor of the University of Johannesburg and Deputy Head of the 4IR Commission of South Africa.

Also Read: Black Founders: Here are some fundraising and networking opportunities

The speaker line up also includes enterprise executives from SAP, Vodacom, UiPath, Microsoft, Standard Bank, Oracle and ABSA. Entrepreneurs and thought leaders from Genesys, Ashanti AI, FinChatBot, Zindi, FIRtech, Future Fragment, and WizzPass will also be present in the virtual exhibition hall with its eBooth functionality – offering sponsors, vendors and service providers a means to interact with delegates and showcase or demo their offerings just as they would in a face-to-face trade show.

HUAWEI CLOUD joins a growing list of thought leaders and companies that have engaged with the AI Expo Africa community over the years. AWS, Microsoft, Google Cloud, IBM, PWC, Kenyan Government, ITU, Nvidia, Intel, SA Government, Dimension Data, UiPath, Blue Prism, Vodacom, Hikvision, SAP, SAS, Telkom, Deloitte, Accenture, EY, Persistent Systems, ABSA and Standard Bank have all been part of the community as the show grows into the next decade.

AI EXPO AFRICA

Continue Reading

Subscribe via Email

Enter your email address to subscribe to this platform and receive notifications of new posts by email.

Ads

Most Viewed