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Home Blog Page 6794

Do We Really Have 4G Networks in Nigeria?

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There is constant improvement in the internet space by network providers and developers, for the pleasure of the internet users. These improvements are designed to increase efficiency and productivity of the customers.

The importance of internet speed cannot be overemphasized as internet speed promotes productivity and saves a lot of human time.

It is a great achievement on how the internet speed has developed from good to better (although we are still hoping for the best, especially in this part of the world called Nigeria) as there has been constant improvement in the internet speed right from the time 2G network experience was introduced.

Nigeria wasn’t left behind in this internet technological improvements as it joined, trying to catch up with the rest of the world countries, on internet speed improvements.

Internet speed improvement became noticeable from the year 1990 when the first 2G was introduced in the United States of America and was launched in the year 1992.

The 2G networks were the first network technology to offer cellular data services and Short Message Service (SMS messaging) but since it’s the first cellular data technological invention, the network data transfer rate was slow – very slow – and it could be said that snail was faster in terms of speed compared to the 2G network of the early 90s, although this was expected as it was the first leap into cellular data networks.

3G came into place to replace 2G in order to improve speed and the throughput of the data transmission. It achieved this cause to some extent as the internet speed of the 3G is better, and faster than that of 2G, but there is always a room for constant improvement.

Due to the fact that there are some apps and sites that require high internet speed for accessing, 4G came into play to improve speed and increase the rate of data transmission.

Nigeria has been trying to catch up in this internet speed technological advancements but we are yet to get there when it comes to internet speed and throughput of data transmission when compared to what is enjoyed in other countries like China, Japan, Netherlands, South Korea, Switzerland,  and Finland.

While Nigeria is still struggling with a (scam of network) called 4G, some countries like the United States of America, China, Japan etc. are already planning of launching 5G networks.

The so called 4G we use in Nigeria is the best way the network providers charge us more for less value, by consuming our data at a higher rate, with the excuse that if you use 4G the rate of data consumption will be higher due to the throughput of the internet, causing a higher rate of data transmission. The 4G of some network providers here in Nigeria is little or no improvement for the 3G that we had as the speed can be said to be the same.

The global average for fast internet speed is about 5.5mbs/s, countries with average internet speed below 4mb/s are considered to have slow internet speed, and Nigeria falls into the group of countries with slow internet speed.

Timeline towards 5G [Source: Analysys Mason, 2014]
What could be the reason of Nigeria not catching up with the rest of the world on the internet speed improvements?

The bulk of the blame will fall on the network providers; they are the conduit pipe for the provision of internet speed. If your phone is made to be compatible with the 4G network and the data transmission rate is not equal to what 4G network should provide, then the network providers owe you some explanations.

While network providers do not make adequate provision to accommodate internet users in some areas, especially rural areas or semi-urban areas, internet users struggle to use network even with a phone compatible for 4G.

There are lesser bandwidths that could be streamed at a given time; they do this to accommodate the traffic hence slowing down the network speed.

Lastly, your tools and your device settings could also increase your internet speed or reduce the throughput of the internet.


NB: You can check the speed of your internet on Fast.com

Visiting Nigeria, Let’s Connect: Kobo360 Partnership, Business Workshops, More

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Good People, I will be in our beautiful nation, Nigeria, for days from next week. On Monday (Aug 5th)  to Wed, I invite you to meet at Eko Hotels, Lagos during SPE conference. I want to specifically explain what we are doing on Kobo360 on how you can finance trucks into our platform, bring your existing trucks into our platform, and ship with us.I will answer all your questions before I connect you with the best team in African logistics in the Jobowu headquarters.

If you ship things in Nigeria across cities, I would like to specifically share how we have built the best technology to bring optimal equilibrium in supply chain, fixing frictions which have existed between demand and supply for decades. Join Kobo360’s G-LOS (global logistics operating system) for full visibility, transparency and superior service. To connect, reserve with my team.

Meanwhile, I have scheduled seminars and workshops. We still have space in case you can host us in your business in Lagos or Abuja (contact my team).

Next trip will be in the east – I will be working in Onitsha, helping my OMATA brethren on many elements. That project begins with a major speech coming in Awka in October (cannot wait)!

 

MTN’s Yello Digital Financial Services Limited (YDFS) Gets CBN’s “full super agent” licence

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This is a big deal in Nigeria’s financial sector – MTN Nigeria receives Central Bank of Nigeria’s “full super agent” licence, Reuters reports: “Through the network established by YDFS, MTN is in a position to broaden the availability of financial services for the under-served across the country. This marks a very important first step in leveraging our infrastructure to scale our Fintech initiatives,” said MTN Nigeria CEO. Besides, MTN Nigeria has applied for Payment Service Bank Licence as it works to close the loop.

A subsidiary of MTN Nigeria has been awarded a license by the country’s central bank that would allow it to provide financial services, the telecoms firm said on Monday.

Nigeria announced last year that it would allow telecom companies to provide banking services, aiming to give millions of Nigerians without bank accounts access to so-called mobile money services, a policy that has been successful in Kenya.

This is my prediction – the disparate agency system we have seen in Nigeria from banks, fintechs and more will now begin to consolidate. Because Yellow is in, there is a new basis of competition in town. It will be good because Nigerian customers will just win through better financial services.

This morning I wrote a lead Note to a Board where I noted, “This firm must be a technology company that offers insurance services, and not an insurance company that uses technology”. That redesign is important in the banking and broader financial services.

The Right Way To Use Social Media

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View of main building with logo and signage at the headquarters of professional social networking company LinkedIn, in the Silicon Valley town of Mountain View, California, August 24, 2016. (Photo by Smith Collection/Gado/Getty Images).

If you are reading this post, chances are you might be on the wrong platform. Perhaps this content isn’t really for you. Most of us opened accounts on almost all social media platforms during the rave of social media, and a lot of us are still very active on all platforms. Before I teach you exactly on the right way to use social media, I will first inform you that time is actually money or most times proportional to money. So if you spend 5 minutes reading this article and it doesn’t in any way add value to you now or in the future, chances are, you have wasted five minutes of your time.

Here’s the point, social media platform were built with different goals in mind, different target audiences and even have different algorithms. This post concerns you because it can help either you as a personal brand or your business. I have had to give free advice to people on the right way to use social media and either get value from it, or make money from it. One of the persons whom I gave tips on how to benefit from social media was a photographer; he had very few clients and also had less engagements. These were the tips I gave him: –

What Exactly is Your Goal for Using Social Media?

I bet a lot of young folks just open a social media account with no specific goal. If you find yourself in such shoes, then you need to have it thought out and here’s a simple way to easily know why you should be on a social media platform: Two different people can strive to become world class engineers for different reasons. One can choose to be a world class engineer with the intention of making millions of dollars while the second wants to be a world class engineer with the intention of saving the world through engineering. 

Now, while each individually aims to be a world class engineer, they will have different approaches to achieve those. To help you know exactly what to do on social media, I will list out some of the benefits of social media:

  • To build connection
  • To create a niche and build influence
  • To make money
  • To spread ideas
  • To stay happy
  • To be updated
  • To get a job

There are lots of other benefits of social media; however, most of these few points have covered a wide range of what we have in our subconscious when creating social media account even though some folks cannot really pinpoint what exactly is their goal for using social media. Now that you have identified what exactly you want to do on social media, the next thing is to know the approach to take in achieving these.

Know Which Social Media Platform Works for Your Skill and Type

Pay attention! there’s this feeling that we all can build influence on Facebook as well as Instagram almost immediately. While it’s true that you can build influence on Facebook, you need to know if Facebook is the best platform to build on. If you are a photographer, your contents are mostly photos and videos, then Instagram should be where you build your personality or brand. 

I will like to point it out to you that having lots of engagement on your contents will not translate to conversion if you are not on the right platform.

I used to write some very good contents on business strategy and all on Facebook. However, I discovered that I got no clients despite the fact that lots of people liked my posts. Two things were wrong. The first was that I did not pay attention to the platform I used. Was Facebook the right platform to use? Well, yes! Although I didn’t consider that. The second mistake I made was that I thought my content was for everyone because they liked my posts. Not until I decided to seek for communities that were related to what I was into.

Be Consistent 

All social media platforms have their different algorithms. However, there’s a similar algorithm which is that the more you have your contents out, the more visibility you get. It might not be about posting to your wall, it might be about commenting strategically on some specific posts to get attention. A lot of people do not know the trick of strategic commenting and it is a very good way to get more visibility, connections and attention. 

Here’s how it works. If you have figured out which platform works best for you; LinkedIn for professionals, Instagram for photos and video contents, Twitter for trends and updates, etc, you can execute your plan.. If you are just starting, then you need to be active on niches you belong to give reasonable comments to posts on handles or pages that have lots of followers or audience. This works best if you are very vast in insights in such a niche.

If you can put all these into consideration, you will be able to achieve a lot on social media as opposed to wasting time on social media.

This FIRS Advert Underwhelms But Leaves A Lesson for B2B Entrepreneurs

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If you still watch a bit of NTA, like I sometimes do, you should have seen the Federal Inland Revenue Service (FIRS) advertisement on Value Added Tax (VAT) by now. The advert, a forty second video which can also be found on the FIRS website, is part of the agency’s integrated marketing efforts to encourage the owners and administrators of businesses in Nigeria to pay their VAT.

But while the Ad triumphs in defining the term clearly, it fails to deliver where it matters the most; in encouraging Nigerian businesses to pay their VAT by presenting the benefits of doing so. And, as most marketers know, an uninspired audience will neither give you their attention nor their money (unless you employ manipulations like legal threats which the Government can afford to do).

However, startups and entrepreneurs targeting a business audience can’t afford to use sanctions – not that they should want to – if their marketing efforts don’t get the desired response and that’s why they need to know the key techniques of appealing to their audience in a compelling manner.

Why the FIRS Ad Failed

There are marked differences between the mindset or attitude of a business buyer (B2B) and that of a final consumer (B2C). It is these differences that make it necessary for the marketer to create different messages to persuade these audience segments.

The B2B buyer thinks of both his business needs or goals and his individual needs or goals. For example, he might want to grow his social media app to overtake Facebook but he also desires free time to visit a club, watch a soccer game or to go on a blind date. If your consultancy firm for startups emphasizes time management tips for entrepreneurs in its Ad but says nothing about growing the startup to phenomenal levels, you won’t get this buyer’s patronage.

B2C buyers, on the other hand, think of their personal needs, problems and aspirations all the time. Evidently, if you spoke to a B2C buyer mainly about business issues, you won’t make the sale.

Sadly, the FIRS Advert on VAT, obviously targeted at a business audience (Nigerian business owners and administrators), failed to address the business of the audience in any of the benefits presented.

Here’s the part of the Ad copy (as delivered in voice-over by a Narrator) which discusses the benefits of paying VAT;

“The VAT you pay will be used by (the) Government to develop our transport infrastructure like roads and railway lines, to continually improve our educational sector by building more schools and upgrading existing ones, to provide adequate security and a better quality of life for us all.”

Surely, the business owner who responds by asking, “But how does this VAT help my business?” can’t be faulted. But permit me to digress here a bit: yes, a tax is a national obligation that must be fulfilled by the citizens irrespective of the use of stellar advertising campaigns or not; however, the state can better deploy the resources spent on pursuing VAT defaulters to achieve better goals by investing smarter marketing campaigns.

And a smart marketing campaign starts from good copywriting; the type that considers both the business and individual pain points of the business owner.

Therefore, an improved version of the FIRS Ad could say:

“The VAT you pay will be used by the Government to continually develop our educational sector so that your business can have a pool of employable, innovative and ready to learn graduates to recruit from. This will simplify your hiring process, reduce the odds of poor recruitment, and speed up your business growth. After all, aren’t employees the lifeblood of any business organization?”

The key takeaway for B2B Entrepreneurs

The B2B business owner must always think like a top B2B salesperson. He must think in terms of the benefits that his product (or service) offers to:

  • The target buyer’s business. Example of popular business benefits are improving a brand’s competitive advantage, increasing sales or reducing its costs of operation.
  • The target buyer’s individual needs. Examples of popular individual needs are reducing workplace stress or getting a promotion.

But what is a benefit?

A benefit is what your product will do for the target buyer. It is your product’s solution to their challenges, goals and interests. For example, paying your VAT to the Government will help you access a smarter and more capable workforce through better schools (this solves your challenge of recruiting great employees with less stress).

The benefit is the reason why your target buyers will patronize you.

You must endeavour to express your product benefits in all you do: your marketing campaigns, product iterations and customer service efforts otherwise your startup will suffer.