Borderless Payment Success
SwitchFin Africa Digital Strategy 2023
©️ Olayinka Daniel O.
Background
SwitchFin Africa, an innovative payment switching solution in Africa, wanting to launch and target B2B clients across the African continent. The company aims to streamline financial transactions and operations for businesses in the African market.
SwitchFin Africa is aiming to lead the payment gateway industry and provide seamless payment method for business in Africa.
Objectives
Communication Objectives
> B2B Brand Awareness in Africa: Establish SwitchFin Africa as a leading provider of payment switching solutions tailored for the African market.
Marketing Objectives
> B2B Customer Acquisition: Onboard a minimum of 1,000 B2B clients from various African countries during the initial launch phase.
Market Research
Focus will be on addressing the top 10 African countries with the largest marketplace.
Share of mobile e-commerce in Africa 2020-2021, by country
As of 2021, mobile e-commerce dominated online retail in Africa. Among the selected countries, Morocco recorded the highest share of mobile shopping, with this modality accounting for 59 percent of the total e-commerce. Kenya and Nigeria followed, with shares of 55 percent and 49 percent, respectively. On the continent, South Africa and Morocco ranked as the countries with the largest number of B2B online marketplaces for physical goods.
Transaction Value
Digital Payments - Africa
Total transaction value is expected to show an annual growth rate (CAGR 2023-2027) of 16.01% resulting in a projected total amount of US$265.20bn by 2027.
The market's largest market is Digital Commerce with a projected total transaction value of US$72.73bn in 2023.
Customer & Revenue Opportunities
Making use of TAM, SAM and SOM to get the total market demand for the service and how much maximum of revenue the brand can generate by selling this service in a specific market.
TAM (Total Addressable Market)
SAM (Serviceable Addressable Market)
SOM = Serviceable Obtainable Market
TAM = # of customers in a Market X Annual Value per customer
737,000 X 25,900($) = $19,088,300,000
(online marketplace) ( average annual revenue)
SAM = Target Segment of TAM X Annual Value per Customer
409,000 X 25,900($) = $10,593,100
SOM = Serviceable Obtainable Market
Going with this data, it shows putting effort to putting the brand first and partnering with the marketplace within the serviceable addressable market is profitable and has the potential to generate an annual profit of $10.5M on an average.
Competitors Analysis
For Flutterwave it’s all about adding new products
Flutterwave hit the ground running with (their best features), API.
Who We Are Speaking To
Primary Audience
Lifestyle: Business Owners
Location: Small, medium, and large business owners across various industries in Africa.
Goals: Entrepreneurs looking to optimize financial transactions and streamline operations.
Pain Points:
(i) High Transaction Cost: Businesses encounter substantial transaction costs when conducting cross-border transactions, impacting overall financial efficiency.
(ii) Delayed Transaction Processing: Lengthy processing times and delays in cross-border payments hinder businesses' abilities to maintain timely financial operations.
(iii) Limited Dispute Resolution: Delays in response times from customer support teams can escalate problems, impacting the speed at which financial issues are addressed.
Secondary Audience
Who Are They: Finance Professionals, Decision-Makers, and Executives within African companies of all sizes.
(i) Professionals responsible for managing financial processes and ensuring efficiency.
(ii) Individuals with the authority to adopt and implement innovative payment solutions.
(iii) Individuals interested in adopting advanced fintech solutions to gain a competitive edge.
Location: Across Africa
Lifestyle:
(i) Active in Financial Transactions: Companies actively involved in frequent financial transactions and payments.
(ii) Tech Adoption: Businesses comfortable with adopting and integrating new technologies into their operations.
The bothering question we ask ourselves is
Given the position of flutterwave, stripe, paystack in the payment market, how do we position SwitchFin as the preferred payment platform for B2B across Africa?
Insight
Business Owners and Payment Gateway Users are tired of:
(i) High Transaction Cost
(ii) Delayed Transaction Processing
(iii) Poor Customer Service
Big Idea
Business without borders - go wherever opportunity leads!
Audience Focused Campaign
B2B/SME
The Campaign: Borderless Transaction with SwitchFin
Brand to live.
Marketing copies for social media.
Content Campaign
From Nigeria to other Africa Region
- In Ghana, someone bought something online from a Nigerian ecommerce website (Jumia). Got directed to SwitchFin for payment, and the payment was super quick. Heard a knock on the door, step out to pick the package.
- The last one is a business executive, seen at her desk with a world map in the background. She receives a notification on her phone. Picked up her phone, tap on the notification from SwitchFin which says "you've received 12,550 EGP from Adeben (egyptian name). She stood up and walk outside her office into a compound full of business activities.
A final pop up text that says
"Business Without Border".
Content Partnerships: Publishers & Expert
Content Partnerships: Publishers & Expert
@afuarida
Afua Rida | 131k followers
Small Business Owner | Influencer.
Have an online store
Engagement Rate: 1.11%
@naijabrandchick
Nelly Agobu | 341k followers
Online Entrepreneur
Engagement Rate: 0.19%
@Entrepreneur
Entrepreneur South Africa
4.5M followers
7,500 monthly traffic
Engagement Rate: 0.03%
KE
NG
SA
@moneyfellows
Money Fellows | A Saving App
94.9K follower
Engagement Rate: 0.54%
EG
Brand to live.
Region Focused Marketing copies for social media.
"Show Us Your Checkout" challenge
Assign this challenge to the influencers and encourage them to make a post on their social media pages with a hashtag (#SwitchFinCheckout). This generate a buzz and spread awareness organically.
1. They encourage followers to share screenshots of their checkout and influencer pick a few of them with less than a certain amount of items and credit them to make a checkout with SwithFin
2. Influencers provide them with a Discount code that is only valid on SwitchFin.
Goals
- Organic Content Generation
- Social Media Presence
- Amplify Brand Awareness and Visibility
Influencers Activities - "Show Us Your Checkout" challenge
Caladium Lagos SME
They enhance business management capabilities amongst MSMEs increasing their chances of growth and reduce their risks of failure. Organise bootcamp every year and the last one was last month with 5k+ community members and 10k+ Newsletter Readers
Partnerships
MoneyFellows
Collaborative money management and lending platform digitizing ROSCAs offering users competitive financial solutions. They currently have 6M active users using the app to get loan and save.
MoneyFellow make use of all payment method to ease the user deposit process. SwitchFin can be one.
SEO Strategy
Website Homepage
A homepage can rank for relevant non-branded keywords and help other pages on your site to rank too.
The website homepage should be optimise to rank for relevant non-branded keywords and help other pages on the site rank too. This can be achieve through keyword optimization to quality content and building high quality backlinks to the homepage with relevant anchor texts.
On - Page Optimization
Site Content
Ensure creation of high-quality content that matches the readers’ search intent. Start by performing keyword research to find relevant topics and target keywords and ensure the keywords are incorporated naturally into the content.
Title Tags | Meta Descriptions
Title tags are a ranking factor. It should be kept brief, unique and must include the target keyword. The meta description describe the webpage’s content to the users who then decide to click or not. Should Include the target keyword and also a CTA
Internal Linking
The homepage should be well optimized with internal link. This helps search engine understand the site structure and how the pages relate. Also helps google crawlers discover and navigate new pages on the site.
User Engagement
All these optimization helps increase the dwell time. If users find relevant information on the website, they tend to spend more time and end up completing an action.
Images
All images should be optimized with a descriptive alt text that includes target keyword
External Linking
Linking to other sites. Help enhance user experience and build trust with the audience. Links that redirect to authoritative external sources should be added.
| Keywords | KD | KV |
1. | why does e-commerce save businesses money | 17 | 30 |
2. | how to send money from ghana to nigeria | 13 | 590 |
3. | uganda currency to naira | 22 | 3.6k |
4. | 500 egypt currency to naira | 17 | 560 |
5. | 500 cedis to naira | 18 | 1.9k |
6. | 82 dollars in ghana cedis | 17 | 320 |
7. | cfa to cedis today | 23 | 880 |
8. | payment gateway without ssn | 0 | 20 |
9. | how much is 1 naira in ghana cedis | 24 | 590 |
10. | how much is 500 pounds in ghana cedis | 17 | 320 |
Keyword
Provide high quality content to the blog section of the website. This increase the website chance of ranking for non-branded keyword and also meet users at the point of their search journey to singing up.
Example of keyword competitors are ranking for and it’s evident that most of them are based in currency rate and exchange.
Source: Semrush
Key Feature
Studying audience behaviour, there is a need to have a currency converter on the website.
This feature will contribute greatly to the organic traffic and leads to brand awareness and conversion.
The image shows currency conversion related keyword and the total traffic volume of 73k+
Source: Semrush
Backlinking Plans
Public Relation (PR)
Guest Posting
Partners
Social Media
Influencers
Search engines consider backlinks as a vote of confidence. Quality backlinks contribute to a higher SEO ranking for the website, driving organic traffic.
Having structured link come in to the website from different sources. Links from shared and owned media, influencers post, Mentions, Partners mention, Guest Posting on relevant and high authoritative website and from PRs run.
Goals:
Digital Marketing Channels
Making use of the brand page,
Goals:
Email Marketing
Emails will be collected at every point of engagement with the searchers.
The email strategy will be persona driven focused on creating personalised content based on SwitchFin audience segments.
Goals
LinkedIn Channel Strategy
Feature: Linkedin Profile Targeting
Target Audience Size:
Estimated Impression:
Estimated Clicks:
Campaign will be constantly optimized with copies, creatives that speaks to their needs for leatherback.
We'll leverage on this feature to target decision decision makers of businesses with messages directly to their linkedin messaging inbox.
Target Audience: Chief Human Resources Officer, CEO, Chief Marketing Officer, Chief Accounting Officer, Executive Director, Chief Financial Officer, Senior Manager
Facebook & Instagram Channel Strategy
Feature: Detailed Targeting (Interest and profile targeting), to generate leads to the brand website.
Target Audience Size: 40M+
Estimated Reach: 171k
Estimated Conversion: 400+
Audience Segmentation
Audience will be segmented based by business owner and decision makers. Campaign will be optimize with creative and copies for better delivery and result.
Source: https://adsmanager.facebook.com/
Google & YouTube Channel Strategy
Search Engine Marketing
Ads will be served to audience who are actively searching with keywords like
cross border payments fintech companies, cross border payment platform, international payouts, global business pay wallet, international payments platform, global workforce payments, international payments, payment remittance, sme international payments, kyc cross border payments, receiving payment in other currencies etc.
In app advertising
We’ll run targeted ads to apps that our potential users are on like Spotify, finance tracking apps, etc. to drive further consideration and also conversion.
We’ll use google’s interest targeting to reach our target audience leveraging on Display, Youtube and search ads.
Pay Per Click
A mounted billboard for the brand in strategic places across Africa.
Reporting, Listening & Measurement
Key Performance / Metrics That Matter
B2B client acquisition numbers
Daily | Monthly Traffic
Number of Keyword Ranking
Number of Backlinks
Conversion
Increase traffic from social channels to website
Awareness, engagement, and follower.
| Content impressions
& engagements
Community size and growth rate
Engagement rate
Brand Survey results
Avg. CPM / Avg. CPE
Influencer EMV
Positive/neutral social mentions
Social SOV
Website Visit
(alt: URL clicks)
Click-through rate
Avg. cost per click
Website Optimization
Social KPIs
Earned Media
Supporting Metrics
Paid Campaign Supporting Metrics
Conversation rate
Avg. cost per acquisition
Advocacy
Brand social conversation
Number of leads generated will be a key performance indicator
Activation
Advertisement
IDEA: Talk about the benefit of attending to sales outside one's region, the business opportunity and how getting paid can be difficult and includes a lot of process but with SwitchFin. Receiving payment across africa comes with ease. Go to switchfinafrica.com and sign up now.
IDEA: A short and captivating video clip of someone trying to shop on the most used ecommerce app, choose a payment gateway to cart out (name withheld) but it wasn’t going through until they opt in for Switch which went through immediately.
Paid Media
Plan Includes campaign objectives, KPIs, Selected Channels & Budget allocation
Budget
| Activites | | Amount | Total |
1. | Instagram Influencers | @afuarida | ₦800,00.00 | ₦2,600,000 |
@naijabrandchick | ₦800,000.00 | |||
@Entrepreneur | ₦1,000,000 | |||
@Moneyfellows |
| |||
2. | Digital PR | 7 Newspaper platform | ₦10,295,000 | ₦10,295,000 |
3. | Partnership Events | 5 launching events | ₦18,000,000 | ₦18,000,000 |
4. | Radio Giggles | 5 Radio Giggles across the 5 country | ₦5,000,000 | ₦5,000,000 |
5. | Television Advert | Big Brother Naija for Nigeria Uzalo for South Africa Citizen TV for Kenya | ₦6,823,580 | ₦6,823,580 |
6. | Billboards | 2 billboard each in 5 of the countries | ₦10,250,000 | ₦10,250,000 |
7. | Paid Media | | ₦17,031,420 | |
Total | ₦70,000,000 | |||
THANK YOU
©️ Olayinka Daniel O. 2023