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Nigerian Stock Exchange Should Emulate Shanghai’s STAR for Tech Startups Exchange

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China has created a tech-focused stock exchange. The Shanghai Stock Exchange’s Science and Technology Innovation board, popularly called STAR, launched this week with 25 companies. The companies surged on average of 140% with one (Anji Microelectronics Technology) hitting 400%. Through STAR, China has created a small equivalent of NASDAQ, a U.S.-based stock exchange that is largely dominated by technology companies. Possibly, through this experiment, China can keep its leading tech companies like Alibaba (which trades in U.S.) to list at home.

Beijing hopes STAR, which has strong backing from Chinese president Xi Jinping, will emulate—and eventually compete with—the Nasdaq in fostering innovative startups. It has long been a source of irritation to China’s leaders that the nation’s hottest tech companies—including Alibaba Group, Tencent, Baidu, and smartphone maker Xiaomi—have opted to float shares in the United States or Hong Kong and largely ignored exchanges in Shanghai and Shenzhen.

One reason for STAR’s giddy opening: regulators exempted it from a rule that limits first-day gains on exchanges in Shenzhen and Shanghai to no more than 44%, although after the first five days of trading, daily price changes will be limited to no more than 20% up or down. STAR’s intraday circuit-breakers are wider, as well. Even so, several companies triggered them within minutes of Monday’s opening.

Yet, the most important thing about STAR is not creating an equivalent for local companies but making it easier for these companies to trade. So, China which would not have typically allowed unprofitable companies like Lyft and Uber to trade would accommodate them via STAR; the Shenzhen and Shanghai exchanges admit only profitable entities. Of course, in this age where market share is strategic, many digital companies sacrifice profitability for growth. When they assume that pole position under the winner-takes-all network effect, they can then map the profitability roadmap.

Other STAR market rules are meant to make it easier for tech companies to raise capital for growth and investment. Unlike exchanges in Shenzhen and Shanghai, STAR doesn’t bar unprofitable companies, nor does it require companies to receive government approval to be listed. Moreover, the new market imposes no limit on the ratio of a share price to a company’s earnings at the time of listing. For some STAR companies, price-to-earnings ratios exceed 150.

The Nigerian Stock Exchange needs something that will be designed for promising technology companies in Nigeria. We want to see the likes of Paystack, Kobo360, Flutterwave and others list, at least their Nigerian entities, in Nigeria, within a new bourse that will accommodate their peculiarities. Simply, NSE needs Nigeria’s equivalent of STAR.

Identifying and Tracking the Metrics that Drive Business Impact on Digital

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For the longest time, businesses have traditionally taken a spray and pray approach to marketing but in this digital age, enough data is already being generated to empower marketing leaders to make well-informed decisions.

In this article, I argue that brands and businesses take a deeper data-driven approach to their digital initiatives, rather than aiming for quick wins by cutting corners. A strong focus on analysing and interpreting data generated from digital marketing programs goes a long way in optimizing the marketing budget for maximum business returns.

Did you know that digital marketing is the most measurable form of marketing? Digital marketing analytics takes the guesswork out of determining whether your marketing is actually working. By measuring your digital marketing campaigns in real-time, you can see which tactics are working and which are not.

There are a plethora of metrics to track – clicks, bounce rates, conversion rates, page views, website visitors, likes, shares etc., however, it is important to note that not all metrics might matter to your business at the same point in time. 

While some metrics are just good to have, others are must-know and at a glance, these metrics can help you make decisions that will in turn help improve the impact of your overall marketing campaign.

This brings us to identifying and tracking the metrics that drive impact on digital. At this juncture, it is important to note that in order to identify the right metrics, you must have a clear goal and a picture of success in mind. 

You must clearly articulate exactly what you’re aiming for and let your digital marketing expert translate that into trackable metrics on digital. 

For example, an FMCG (fast moving consumer goods) brand aiming for awareness is better off tracking reach, viewable impressions and brand lift rather than clicks for its awareness campaign. 

A professional services firm aiming for more business leads is better off tracking the rate at which their contact form is filled out and submitted rather than the total number of website visitors. 

This is not to say clicks are not important for the FMCG brand or that total website visitors are not important for the professional services firm, but that the metrics that drive impact goes beyond what we tend to see on the surface level.

The metrics that will drive impact for Brand A may not necessarily drive impact for Brand B, hence I recommend that in order to identify the metrics that matter the most to your brand or business, consult with a specialized agency partner or digital marketing expert with a track record of excellence.

However, on a general note, let’s take a look at 3 of the most popular surface-level metrics and their accompanying impact metrics. I highly recommend these metrics for brands and businesses. If you are involved in execution, learn more about these and if not, request a report showing your performance on these and other identified metrics from your agency partner.

From Community Size to Reach

Gone are the days when having 1 million Facebook fans meant you could freely reach all 1 million of them organically on a daily basis. 

With Facebook’s latest algorithm change to the newsfeed, many pages are reaching less than 20% of their fans and this same trend applies to Twitter and Instagram. 

So my question is, what’s more important? Tracking month on month growth/decline in community size or month on month growth/decline in total reach on social? Think about it.

From Video Views to Video Retention

Your 60 seconds TVC (an audio-visual advertisement aired on free or subscription TV stations) has been published on Facebook and YouTube. 

A lot of money has been invested in media buying and you report 1.5 million views to the business and the team celebrates the achievement. 

On the flip side, consumers viewed the TVC for the first 5 seconds on average whereas the key message of the TVC was revealed in the 40th second of the video. 

Video retention matters more than ever before because of shorter and shorter attention spans. 

Begin measuring the duration of your videos that consumers actually watch and let the learnings drive your video content strategy.

From Impressions to Viewable Impressions

I remember when I ran my first google display campaign. 

Impressions were rising like magic. In a single day, I would report up to 10 million impressions but this was not making any difference to the business. 

I soon realized that an impression is counted each time my ad is shown and this could be a fraction of a second. 

So how can you tell if people are actually noticing your Ad? Consider tracking viewable impressions. 

An ad is counted as “viewable” when 50% of your ad shows on screen for one second or longer for Display Ads and two seconds or longer for Video Ads. 

Ensure your agency partner does not report only impressions but drills down to viewable impressions where applicable.

The above list is by no means exhaustive. The focus for a fast-moving consumer goods business differs from that of a professional services firm which in turn differs from the focus of a technology startup and so on. At the end of the day, value for money invested in digital is what matters most. 

Your ability to identify the strategies and tactics that drive revenue or desired results for your business or brand depends on your willingness to test, measure and do more of what works.

Consider an orchestra, one instrument is never sufficient on its own to create the effect that orchestras are well known for. 

Same applies to digital marketing. It’s not enough to have your creative and copy on point, measurement matters just as much as execution. 

Identifying the right metrics to track is a step you should take if marketing success is your end goal.

A Call to Nigerian Lecturers to be More Human and Approachable

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This article may not go down well with a lot of Nigerian lecturers, but this issue needs to be addressed as soon as possible. Some lecturers are no longer guilty of this but I heard that a lot of them are still clinging to the old method, you know, when lecturers were treated as the demi-gods of the academic world. The area I want to address here is on the attitude of some lecturers towards the supervision of students’ research work. I’m not here to discuss the issue of those that only ‘touch’ their supervisees’ works if ‘fat envelopes’ accompany them; nor am I here to talk about those that ‘carry out’ the research and write the reports for their supervisees at a fee. No, those are stories for another day. My interest in this article is on those who make themselves unapproachable to their supervisees, thereby failing to guide them appropriately.

My experience during my BA research work and report writing wasn’t funny. The lecturer assigned to supervise me was always harsh to students – you know, he shouts at us and gives us the impression that he shouldn’t be disturbed. More so, he was the immediate past Head of Department of English and was always at a logger head with the present one.

In those days, we drop the files containing our works on the supervisors’ tables and then ‘disappear’ for two or three weeks, or just as long as we feel the file must have been attended to and dropped with the department’s secretary or clerk. So you see, we don’t even go to the supervisors’ offices to check for our files. When we pick our files, we spend another two or three weeks wondering what the red ink comments are trying to tell us. Do we dare approach our supervisors if we don’t understand? Who dash monkey banana?

So, what do we do? We go home, sit down and try to unravel what our supervisors meant by “recast”, “expand”, “rephrase”, “expunge”, “explain”, “What is the relationship?” or whatever is written. We were even happy when we see things like that, trust me. It was better than seeing two long strokes running through the page with captions such as “not accepted”, “redo”, “cancelled”, “rejected” and things like that. Honestly, course works were more fun in school than writing projects. Truth is that in course work you don’t have to get your lecturers ‘angry’ by asking questions.

So you can imagine how exhilarating I felt when I took my file and saw, “Approved for typing and re-submission”. This doesn’t mean my work won’t still be corrected or cancelled, but at least I was getting closer to the end. I typed, received corrections on typo errors and was asked to submit to the department for their own verdict. There, I finally met the baptism with fire. Yes, my supervisor has just been doing the one with water and air. In fact, I didn’t even know what writing project was until the names of those whose projects were rejected were published and there, my name was staring back at me – my months of sweat and incessant prayers were deemed unfit for external defence.

I went to the secretary and collected it. I checked and rechecked but there were no comments from the HOD, or whoever that was in-charge, specifying what the problem was. I summoned up enough courage and went to see the HOD. You know what he told me, that I should go back to my supervisor because it was his duty to find the faults in my work. Chai! Me that was already doing thanksgiving that I am free will start from where I didn’t know again.

Well, I went to see my supervisor. This time I don’t have to drop the work and go, I had to sit down and discuss with him (Did I just say ‘sit down and discuss’? If I hear. Of course I have to stand by the side and narrate my ordeal). Anyway, my supervisor flared up and sent me back to the HOD saying that he was already done with me. You know what my people say about what can’t kill you making you stronger? That was me then. I gathered strength and courage from nowhere and started pestering these two men. Of course they kept turning me round and round until I found my tears (the greatest secret and weapon of every woman *wink*). Honestly, I was getting so frustrated that my strong-will disappeared by itself. One day, I waited till late afternoon for the HOD to come to work (it was his turn to send me to the other party with messages of his incompetency). When he saw me and told me to stop bothering him, I had to let the tears flow. Truly, tears can move the hearts of men. The HOD relented and told me what was wrong with my work – inconsistent referencing style (can you just imagine).

From the HOD’s parking space (that was where we were when he finally told me the cause of my immeasurable pain) I went in search of my supervisor (with the tear stained face and all). When I saw my supervisor, he just took one look at me and asked me to hand over my work to him. I didn’t tell him what the HOD said (maybe that would have gotten him angry again) and I didn’t effect the corrections. He just collected the rejected four copies of my hard bound project papers and that was it. I didn’t hear anything about my project again. And when I saw my transcript (for my Master’s programme) I saw B against project.

“Why is she writing all this”, some people may wonder. Well, here is the main gist. When I relayed a little bit of this story some days ago to someone, just as a joke, I found out she passed through something similar while running her Master’s programme so that she ended up staying up to five years for just M.Sc (in the same school as mine but a different department). A colleague of mine told me just this Monday that he is also having a similar issue presently and he has been running his PhD programme since 2009 and he keeps receiving corrections after corrections without a tangible guidance on how to go about it (in that same school but a different department too). Honestly, some Nigerian federal universities are becoming unpopular for delaying students’ graduation because they fail to guide them in their project, thesis or dissertation. They need to make changes as soon as possible.

I know that we have lecturers who make out time for their supervisees, but there are still a large number of those who don’t. Maybe these lecturers in question are too busy because of their demanding lecturing works, or maybe it’s because they have so many supervisees assigned to them, or it could be because they have their own research works and reports to tidy up. Whatever their reasons are, they need to make out time for their students. All that the students ask for is guidance, nothing more.

However, the lecturers that could not afford the time for regular face to face meetings with their supervisees could resort to the use of modern technologies and the internet. They can start by exchanging email addresses and phone numbers with their supervisees. Then they should make available the department approved structure for the project/thesis/dissertation and the referencing style to these students. They should encourage their supervisees to contact them electronically. However, they need to let them (the supervisees) know when they (the supervisors) can be disturbed. This means that the students can send their works through emails and the lecturers can go through them at their spare time. The places the lecturers query should be highlighted and comments on them given as footnotes or endnotes. When this is judiciously done, the supervisees will have their works done on time and the supervisors would have done their own part of the work under less stress. At the end, everyone is happy.

Dear lecturers, gone are the days when your students should be afraid of you. Be their mentor and enjoy seeing them blossom.

Remember, the hustle is real. Let’s heal Naija.

Digitizing Nigeria Using Estonia’s National Digitization Model Might Be the Way Out

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National ID Card, Nigeria

Estonia achieved a digital society status in 2014 after almost 2 decades of hard work and dedication. They are now referred to as a digitized nation where over 98% of government affairs are being run online. And if we want Nigeria to change and grow then we need to follow suit. There is one argument anyone can make as to why Nigeria cannot copy Estonia’s digitization plan which I’ll debunk.

The argument is that Nigerians are poor and this will serve as an impediment to the government in the course of achieving this. Estonia is a country formerly part of the defunct Soviet Union and after the collapse of the Union the Estonian government has been gaining strides in structure development and reforms. However, according to a Statistics Estonian report, over 21% of Estonians are considered impoverished and live in poverty while 3.9 percent live in what we call abject or deep poverty. As of 2015, more than 40% of those over 65 years of age live below the poverty line. There is a huge inequality between the rich and the poor which is often facilitated by cities segregation.

Even with these statistics, there has been a progressive decrease in the high margin of wealth distribution between the rich and the poor over the past few years. And they are on their way to becoming a poverty-free country. Now coming back to national digitization, Estonia has over the years, achieved e-Governance, e-Tax, X-Road, Digital ID, i-Voting, Public Safety, Blockchain, e-Health, and the most recent, e-Residency.

I see a digitized society as one of the strong options for Nigeria to start living in the true reflection of her wealth. It might be considered impossible, but if we can start with our voting system and I believe everything will fall into place if it’s done right.

One of the problems we have has always been electing the right leaders. Nigeria is rich enough to compete with any Western country in terms of technological advancements and or GDP. To get our election process right, we can adopt an e-voting system. There are the options of Direct Recording Electronic (DRE) machines and optical scanning machines. But these options are a no-go for Nigerians because of incessant “thugery” and voting venues disruptions.

My suggestion? Nigeria should adopt a simple app voting system. This means an app is created where everyone with a smartphone can vote from the comfort of their homes and it will be one vote per device. I understand that not everyone in Nigeria has a smartphone. But in the 2019 elections, the number of Nigerians with PVC was recorded as 72.8 million Nigerians (out of over 200 million Nigerians).

Smartphone users equal over 40 million Nigerians and it predicted to double by 2022 – the year of our next general elections. If we can conduct an election with just 72 million Nigerians, surely, we can do the same with 80 million Nigerians.

A digitized Nigeria can be the only avenue where its citizens can make their votes count and where everyone has a voice. You cannot go wrong with governance when you know you can and will be voted out if you make too many errors. If digitization can help us get our elections right, we can certainly make strides with a real-time economy, cybersecurity, intelligent transportation, healthcare, etc. And if Estonia can do it, we can.

Employers Don’t Have Indispensable Employees – Case Lesson of Real Madrid FC

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Employers don’t have indispensable employees.

Quite shocking, right? Yes, I repeat, no matter how hard you try, you’ll never be indispensable to your employee.

Take Real Madrid FC, Spain, as a case study. The club is one of the most decorated clubs in Europe, no doubt. But when it comes to the culture and traditions, they are not the best at it.

Starting with how managers are being treated, it simply shows how they operate.
Carlo Ancelotti managed the team from 2013 – 2015 and won the prestigious award for the club, the UEFA Champions League Trophy. A trophy they’d never won for a long time.
Despite winning La Decima, the FIFA Club World Cup and Copa del Rey in the 2013-2014 campaign, he was shown the exit door for going trophy-less in the 2014-2015 campaign.

Jose Mourinho also got sacked at Real Madrid. This was a manager who ended the reign of the invincible champion, Barcelona FC. Jose Mourinho was brought to Madrid in 2010 to challenge Barcelona who has been dominating the Spanish football. The Portuguese started well with a Copa del Rey in his first tenure and a Spanish league in the second year. He was shown the exit door in 2013.

Zinedine Zidane won the UEFA Champions League trophy for three consecutive times (2016-2018) for Madrid in his two and a half years spell as a manager. He also won some major trophies as well. He resigned in May 2018, citing the club’s “need for change” as his rationale for departing. He is back to the club though after the club went through lost weeks.

Real Madrid is not only known for sacking managers, but they also treat their players poorly. Especially their club legends. We’ve seen the likes of Raul Gonzalez left in unfortunate circumstances despite hoping to retire at the club.

Iker Casillas was another club legend who left in tears, sitting alone on a stage as he gave his farewell press conference in 2015, no club presence to support the long-serving player. This was a player who joined Madrid’s Academy at age nine, played for the first team for 16 year and captained them.

Even Cristiano Ronaldo, the club’s finest ever player, left for Juventus in 2018. He later blamed the Club President, Perez, for his departure. The five-time Ballon d’Or claimed the President no longer see him as “indispensable’.

Other heroes like Alfred Di Stefano, David Beckham have all tasted the strange treatment by the club, questioning the club’s culture and traditions.

One player currently going through this poor treatment from his employer is Gareth Bale. The Welshman has been shown the exit door. Even the club manager, Zidane has made it known to the public that he doesn’t want Bale.

“We hope he leaves soon. It would be best for everyone,” said Zidane.

This is an utmost disrespect to the player who has delivered results to the club when called upon. His stats showed he had scored 102 goals in 231 games, adding 65 assists.

This simply means all employers do not remember past glories or judge employees by what they have done, you are expected to keep bringing results every time. Just like employees want to keep getting paid every time.

Get this straight, you are your employer’s best worker as long as you are bringing results. That stops the day you fail to do so. The only way forward is to keep bringing results if you want to remain relevant. Inasmuch you’ll not want to be judged by your employer for previous payments, stop blaming your employer for judging you based on the present result.

Likewise, employers should also know that you can’t always win every time. Give your workers time to adjust and implement new techniques. Things are always changing. No employee wants to underperform.