Africa is a continent of over 1 billion people and happens to be the region where population growth rates are the highest in the world. It is estimated the population of sub-Saharan Africa alone will double by the year 2050. This makes Africa an extremely important market. Yet, it also happens to be the market that is little understood. There are a lot of misconceptions surrounding marketing in the region.
The waning of old school marketing techniques
The development and incorporation of new technologies render old ones redundant. Slowly, old ways of doing things get replaced and fall out of use completely. This trend has only accelerated as the speed with which new technology is being developed increases.
The development and advancement of the internet and associated technologies have completely transformed numerous industries. Marketing, similarly, has undergone a major change. Increasingly companies are utilizing the power of social media to promote their products.
This is not just limited to advertising and promotion, which is just one element of marketing. Conducting market research, product development, testing, and distribution have all been made more efficient and streamlined through the use of new technologies.
Old school methods of marketing, like conducting in-person surveys, direct mail advertising, and face-to-face networking, are becoming less and less relevant in today’s fast-paced and technology-driven world.
Marketing in Africa
While social media is increasingly becoming a powerful tool in the realm of marketing, many companies think that old-school marketing is more relevant in Africa. Much like the rest of the world, effective marketing in Africa is changing.
Use of smartphone
As identified by the World Bank, 650 million people in Africa own a mobile phone. This number is considerably higher than the number of mobile users in either the United States or Europe. The count of mobile phone owners and users far exceeds the number of people who have access to clean drinking water or electricity in Africa.
Penetration of the internet
Internet usage is also quite high. Internet penetration is expected to reach 75% of the population by the year 2030. This will put Africa at the same level as the rest of the world in internet usage. Mobile banking is also on the rise in the region as many people do not have bank accounts, and money transfer using mobiles is so convenient.
The technological advancements
There is no doubt that Africa has been able to adopt a leapfrog pattern in adopting digital technology. Economic growth and development are the highest in many countries in Africa, and much of it is attributed to the digital revolution the region has undergone.
Marketing in Africa, as a result, must keep up to speed with this change. Conventional means of marketing, as mentioned above, are just as obsolete in Africa as in the rest of the world, if not more. While Africa lags in terms of traditional infrastructure, like roads and bridges and other such amenities, it has been able to compete with many developed countries when it comes to digital technology.
The winds of change
It would not be wrong to say that digitalization has brought about a revolution within Africa. The region has advanced leaps and bounds. African society is changing, and so is the marketing that appeals to the majority. New ways of marketing are more effective and relevant for a region like Africa that has made great progress in incorporating technology.