Naira falls to 390, foreign reserves on a downward streak

0

The Naira has continued its downward trend, falling further to 390 to a dollar as against its 385 stand at the close of business on Thursday.

Also, the nation’s foreign reserves took a break from its upward journey, losing about $52 million to stand $30.296 billion from $30.348 billion.

The liquid amount in the reserves is about $29.6 billion and about $674 million being blocked.

The foreign reserves hit $30 billion weeks back – for the second time since President Muhammadu Buhari assumed power in May 2015, and reached its highest point since October 2015.

The naira, which closed at 410 to the euro on Thursday, now trades at 415 to the same currency and at 485 to the British pound as against its last closing price of 470.

The Central Bank of Nigeria (CBN) has made efforts to salvage the situation of the naira by easing foreign exchange policies thus providing forex to cater for tuition, travel and medical expenses.

Since the announcement, the CBN has pumped more than $2 billion into the market to ensure convergence of all segments of the market.

On Thursday, the apex bank announced that it had increased the foreign exchange amount to be sold to Bureau De Change operators to $10,000 per week from the initial $8,000.

It also said that it would announce new rate for BDCs.

 

(The CableNg)

#KeepTheChangeBae: Of brands, banters and the benefit of trendsspotting

0

The Internet again gave many Nigerians something interesting to tweet and talk about, other than the daily rants of #BBNaija and the musical performance of a Nigerian senator. After a faux pas from one Pablo (not Escobar) who thought drawing the first blood meant winning.

God forgives no doubt, but Nigerians do not forgive easily; neither do they suffer fools nicely. No not once. In a world where the voices of the female folks are beginning to reach a much desired high note, it was only normal for the harmless tweet to be flagged while passing their radar.#KeepTheChangeBae

Still wondering the ‘Orijin’ of the story? Ok

In summary, Pablo took a lady out in the city of Ibadan (why always Ibadan *sobs*), wanted a relationship after the date, the lady refused, Mr. Pablo (not Escobar) called out the lady on twitter and the lady with no iota of chills itemized the date expense (N3,800) and gleefully refunded N5,000 hence the title #KeepTheChangeBae

A win-win situation it was as Nigerians had their moments (even saw someone convert the misdemeanour to a prayer point) and some wise brands had their exposure.

It is no news that brands that market in the moment win the larger share of the consumer’s attention not the ones who claim to, but stay rigid to their content calendars or are too scared to take risks.

Quite remarkable was how some brands leveraged on this phenomenon including Wema Bank that was dragged into the crazy love affair. Small businesses were also not left out as the epic response of MissMoshiku triggered a couple of freebies, lying fallow in their hands.

Two key lessons from the act of some brands to the docility of the others.

First is that, Leveraging on trends works well, Remember #MannequinChallenge and its global effect?. Social FB_IMG_1490907532619media in itself is a fast paced environment and only brands that are truly willing to adapt and evolve can truly survive. Spotting trends and leveraging on them gives your brand heightened level of exposure that if quantified in monetary value might scare your marketing manager away.

Rewind some years ago some of these brands might probably have referred to it as bad press and ultimately rolled out a release dissociating themselves from it. But hey, times have changed.

Secondly, your brand’s style doesn’t have to change because of a trend: Jumia Travels, Orijin and even Frist Bank that was not invited to the party took the opportunity to announce its product offerings to their respective consumers whilst still maintaining its usual tonality.

Leveraging on trends could be dicey because when it fails, it can be really bad but like someone rightly said you miss all the chances you never took.

What are your thoughts?

FB_IMG_1490907540493

 

(Brandish Nigeria)

Android vs iOS: the battle for business: Apple releases iOS 10.3

Apple has launched the iOS 10.3 update for iPhones and iPads, making the operating system faster than its predecessor.

Although there’s not a whole lot to report from the latest version of iOS, Apple engineer Renaud Lienhart‏ tweeted: “iOS 10.3 feels ‘snappier’ because many animations were slightly tweaked & shortened, for the better”, showing that off as the major new change Apple users will experience.

The new animations are most evident when you open, close or switch between apps. Another factor that will make iOS 10.3 seem faster is a new file system Apple has added, making it faster to read and write speeds to the disk inside iPhones and iPads. Although you won’t be able to see this is operation as you can with the new animations, you should start noticing a faster experience.

iOS 10.3 also irons out a number of bugs found in iOS 10.2 and adds a few other funky features including Find My EarPods, updates to CarPlay, hourly weather forecasts in Maps and a new Podcast widget.

One not-so-exciting feature of iOS 10.3 is it takes a long time to update and although the file size is only 600MB, users are saying it takes a lot longer to install compared to previous versions.

iPhone and Android win out as Microsoft pulls plug on Windows handset

The tech giant no longer lists Windows phones for sale on its own Microsoft store

Is Microsoft finally pulling the plug on Windows phones?

It certainly looks like the company is withdrawing its handset business from the Irish market.

The tech giant no longer lists Windows phones for sale on its own Microsoft store. The three biggest phone operators here are winding down their Windows phones, with just one model each and no plans to replace them – and the company itself has even stopped supporting older phones with key services.

Put simply, Windows phones have been crushed by the iPhone and Android.

Sales have fallen to below 1pc in the Irish market. From having 4.7pc of the Irish market three years ago, usage now stands at 1.3pc, according to Statcounter.

Software giants like Facebook and Google have taken note. Facebook is to cease supporting its Messenger service on Windows phones that use version 8.1 of the software (a majority of current Windows phones, according to Kantar Research).

Snapchat and YouTube, which never launched versions of their services for Windows phones, have been utterly vindicated.

For years, I’ve been writing that you’re at a disadvantage if you get a Windows phone.

The problem has never been the hardware, especially with Nokia Lumia devices. It was always the ‘app gap’. There are simply far too many critical everyday apps missing from the ecosystem. There are no Google apps (Maps, Search, Gmail, Docs), for example. Or Snapchat. None of the banks here support apps for Windows phones, which is a major pain. Sky and Virgin Media are the same – you can’t watch your TV on the go with a Windows mobile device in the same way you can with Android or iOS.

Facebook, WhatsApp and Instagram are in there alright, but Windows users are always relegated to last place when it comes to new features. Even rival divisions of Microsoft itself are abandoning the Windows Mobile operating system. Minecraft, which Microsoft owns, won’t be updated for Windows Phone any more, while Skype will also not be supported on some versions of the mobile Windows operating system.

As Windows Phone usage withers, with little by way of new investment from Microsoft, the problem is getting worse rather than better.

In Ireland, the phones are still used by employees some public sector and government organisations, which negotiated bulk discounted deals to buy into the ecosystem. Many of Microsoft’s own employees are also stuck using the phone.

The smattering of others who still have a Windows phone include those who were given one as part of some €99 deal and for whom it was a first smartphone. There is also still a very small niche who are loyal to Nokia, which Microsoft bought in 2013 as a hardware vehicle for its nascent Windows mobile operating system.

But with Microsoft pulling the plug on sales here, both these markets may now run dry. There is simply no further upgrade cycle being offered.

Over the last year, I have spoken to numerous senior global Microsoft executives about Windows Phone, its future and its apparent lack of new updates from Microsoft. All have reiterated the company line that Windows Phone’s future lies in being a complementary device to laptops and PCs, where content and computing activity can seamlessly continue. It’s ironic, so, that one of the most impressive features of Samsung’s new S8 superphone is its PC dock which completes what Microsoft has been trying to do. For those who haven’t seen this, it’s a dock that plugs into a monitor, displaying a large screen PC-ified version of your Samsung S8’s Android screen. But it’s displayed in a proportionately horizontal layout and works with a mouse and keyboard. It’s a very functional, usable Android takeover of the desktop PC. And it’s powered by the phone itself, thanks to an incredibly souped-up chip.

To be fair to Microsoft, it probably had no choice but to retreat with Windows Phone. Its reorganisation of its business priorities has meant means a focus on business software and services in the cloud. That means its phone business is a distraction and a costly one at that – it has already had to write off almost all of what it paid for Nokia (€7bn) as a financial flop. Windows Phone might stagger on for a while. But to most, it’s gone.

(independent)

Through the looking glass: Consumers on Instagram

The first digital photograph dates back to 1957. Today, more pictures are taken every two minutes than throughout the whole of the 1800s. And the vast majority of those are by people recording their lives and experiences, not brands or organisations.

While several organisations tap into user-generated visual content – think publisher Hearst Magazines and its analysis of Pinterest to help guide its editorial or fast-fashion jewellery online retailer Baublebar, which monitors Instagram to determine which fashions are trending and then launches products to complement these – it remains a largely untapped marketing resource.

The images people share provide not only authentic brand assets that others are keen to engage with – they are also the most direct way of seeing the world through consumers’ eyes.

Emevil © –

Emevil © – 123RF.com

At the same time, the phenomenal improvement rate of mobile cameras is all but obliterating the gap between ‘professional’ vs ‘amateur’ visual content, as demonstrated by Apple’s recent ‘Shot on iPhone’ campaign.

What’s more, in a world where consumers are increasingly demanding transparency and authenticity, user-generated content (UGC) is consistently outperforming brand creative across a whole range of metrics.

Since 76% of consumers find UGC more honest than branded content, it’s no surprise that companies see a 78% lift in conversion rates when their customers interact with it. After all, you’ll never find a better sales rep than your most loyal and engaged followers.

Yet the value of UGC for brands extends so much further.

For example, channels such as Instagram provide the most unmediated access to consumers’ lives.

People post content that expresses how they feel and what’s important to them in real time, constructing stories and narratives they want to be associated with.

Kantar Added Value’s recent study of holiday-related images shared on Instagram helped identify cultural trends currently shaping the world of travel and tourism. 20,000 posts were collected (identified by particular #hashtags), of which 2,000 representative ones were semiotically analysed to explore the visual signs they employed and the meanings they created.

While a similar approach can normally be employed by looking at sources in the wider culture (magazines, comms etc.), the use of UGC as raw material meant the team were able to assess the degree of consumer engagement with each of these cultural spaces, as well as quantify their relative importance. So for example, the much greater prevalence of ‘Secret urban pathways’ and ‘Back to being a caveman’ signals the growing importance of exploration for Instagram’s millennial audience.

If the exercise were to be repeated next holiday season, comparing the new cultural space with the previous year would yield more insight into how they are evolving in the eyes of the consumer.

Then, players such as Olapic now enable brands to turn some of the best UGC into fully-fledged brand assets. Instead of creating professional content with agencies and models, we can now get in touch with Instagram users that have already taken that perfect shot.

Considering that 70% of people are more likely to buy a product if they see a positive and relatable consumer photo, this not only saves budget but also provides brands with the most authentic visual content imaginable.

But what to do if your brand simply does not show up on Instagram?

On a tactical level, there are some simple ways you can encourage people to take and share photos. For example, having identified that peonies are the most Instagrammed-flower, Topshop collaborated with Bloom & Wild to create a Peony Pop-Up in their Oxford Circus store, which led to huge social media exposure for both brands.

Chalk drawings, striking backdrops and a plethora of other visual elements with Instagram-friendly aesthetic can have that impact when adequately employed.

More significant, however, is the question of why people are not choosing to associate themselves with your brand when curating their online identity. One can argue that categories like travel, food and interior design are simply more social-media-friendly than say, personal care or footware.

And this is where Kantar Added Value’s recent work on creating cultural value demonstrates that brands in the same category can vary hugely in their social media exposure and engagement – and this is largely driven by how much of a role they play in culture.

For example Lush is an Instagram heavyweight, featuring prominently in millions of posts tagged as #lushtime and #fightanimaltesting amongst others. By playing a clear and purposeful role in wider culture, it has become significant to consumers far beyond its actual products – and in doing so, acquired symbolic meaning of its own that people are choosing to appropriate. By contrast #thebodyshop – despite playing in exactly the same category – has considerably fewer Instagram posts, most of which are product-centric.

A similar story emerges when comparing cultural icons like Converse with other footware brands such as Clarks. Those that are associated with a set of values and experiences beyond their own category offer people the perfect ‘raw material’ for creating engaging, authentic and original content. In short, to make the most of UGC brands need to earn that right first by being in tune with the pockets of culture that their consumers care about.

Understanding and interacting with the wider world in a way that is genuinely valuable and meaningful to consumers is hard, but in an era of user-and-influencer-driven marketing brands simply have no other choice. Here are four places they can get help.

1. Video and the future of social watching:

More and more video content is shared everyday on social media, representing great sources of potential insights. But because of the difficulty to manage and analyse large quantities of video data, this type of content is often overlooked when it comes to social watching efforts. Last October, IBM announced they are bringing Watson’s cognitive abilities to their already existing Cloud Video Technology. For now, the service is mostly used to monitor audience reactions and preferences, and to automate the segmentation and categorization of videos. But it represents the next frontier for social watching.

2. Understanding the meaning behind social data:

Social media watching and listening help marketers take a direct look into people’s lives, without the biases that come from traditional research settings. Yet, for now, these techniques are not used to their full potential: social analysis is often limited to the ‘what’ and lacks the ‘crucial ‘why’. Turning this data into insights requires a layer of social sciences understanding, best brought by the types of culturally sensitive analysts we have at Kantar Added Value, who will uncover the anthropological meaning behind the data as the Harvard Business Review suggests.

3. Translating data analytics into action:

McKinsey says data analytics is meant to serve your business – not the other way around. It may sound obvious, but to make analytics really work, you have to start by ensuring they always answer real, precise business questions. Gathering data in the hope that something will jump out is unfortunately all too common. Make sure that the outcomes of the analysis will be actionable – and actually used. And avoid the pitfall of presenting the results in a way that is too technical and hard to understand for non-data scientists.

4. Brand logo recognition technologies to support social watching efforts:

Keeping an eye on the visual content consumers share about your brand is highly valuable, but comprehensive monitoring can be challenging to implement as users do not always reference the name of the brand verbally. Detecting your logo on media content allows for more thorough content coverage. Images are semi-analogue data, which make them more difficult to analyse compared to text-only data. But The Stack reports that logo recognition technologies already exist and are becoming more and more actionable for brands.

(Bizcommunity)

Mitsubishi hits Nigerian market with free check-up, diagnosis

Mitsubishi, through its Nigerian authorised dealer, Massilia Motors, is offering free professional check-up and diagnosis for all Mitsubishi vehicles from 2010 models and above.

The offer, which only lasts for one week, begins on Monday to Friday April 3 to 7, in Lagos. The sole dealer, recently unveiled as a joint venture of CFAO and Kewalram Chanrai Group, said the free diagnosis will take place in its after-sales facility in Ijora, Lagos.

The company’s General Manager, After Sales, Dominique Beguin, said the initiative was designed to appreciate Mitsubishi customers in Nigeria.Disclosing that the offer would begin from Lagos and later extended to other parts of the country, Beguin was optimistic that the initiative would reassure customers of the firm’s ability to handle all after-sales needs.

Beguin said all Mitsubishi vehicle owners are to “get free professional check-up and diagnosis for all Mitsubishi vehicles from 2010 models and above, and beside the free diagnosis, the customer gets a 10 per cent discount for labour.”

According to him, the company will also be offering a 25 per cent discount on selected genuine spare parts as well as free estimation valid for two weeks from date of issue.
Beguin, who disclosed that customers could take advantage of the offer by booking for a check either by calling Massilia Motors or sending an email via the company’s website, also said the company will present free car wash and numerous gift items to those who attend.

The Managing Director, Massilia Motors, Thomas Pelletier, said: “The Massilia advantage is that we do not only sell cars, we consider our customers as stakeholders and provide solutions tailored to their needs. From counsel on the best product for each use to establishing a maintenance plan, we follow the customer through the product life cycle to ensure good value and a longer life span.”

 

(GuardianNg)

Glo to Storm 27 Cities with Mega Music, Comedy Shows

Globacom, national telecommunications operator and Nigeria’s biggest corporate promoter of entertainment, has announced plans to commence the first-of-its-kind entertainment fiesta which will set several cities across the country agog for the next six months.
The twin mega shows, called the Glo Mega Music Nationwide Tour and the Glo Laffta Fest comedy show, will kick off on April 7 across 27 locations of the country.
Announcing the commencement of the 27-week shows in a statement over the weekend, Globacom explained that Glo Mega Music Nationwide Tour is a music concert that will feature the best acts in Nigeria’s music industry, while Glo Laffta Fest is a comedy event which will parade the funniest humour merchants on the African continent. Each of the shows will be held in the selected 27 cities.
The company said Benin city would host the first Glo Mega Music Concert on Friday, April 7, at the Best Western Hotel, Etete, Benin City, while the first Glo Laffta Fest would be held on Sunday, April 9, at the Eko Hotels Convention Centre, Victoria Island, Lagos.
In the statement, the leading telecommunications outfit disclosed that the two shows would run in the cities consecutively mainly on Saturdays and Sundays, with the Glo Mega Music Concert holding on Saturdays, while the Glo Laffta Fest show would hold on Sundays. Other locations where the shows will hold include:Ikeja, Ikorodu, FESTAC and Ajah all in Lagos; Awka; Owerri; Asaba; Calabar; Enugu; Aba; Port Harcourt; Suleja, Kubwa and FCT, all in Abuja; Ibadan; Ijebu Ode; Abeokuta; Ekpoma; Kaduna; Akure; Lokoja; and Ayingba.
According to the statement, “we are running the spectacular shows as a way of saying thank you to our teeming subscribers across the country for their loyalty, support and abiding faith in the Glo brand over the years.”
“The A-list Nigerian musicians who will perform at the Glo Mega Music Nationwide Tour include Olamide, Flavour, Runtown, Omawumi, Yemi Alade, PSquare, Phyno, Timaya, Reekado Banks, Korede Bello, Di’Ja and  Kiss Daniel. As we proceed, we will further embellish the concert with another giant Nigerian musician. For the Glo Laffta Fest, we have such heavy weight comedians as Gordons, Basketmouth, Bovi, Salvador from Uganda, I Go Dye, Dan D Humorous, Bash, Seyi Law, Omobaba, Acapella, Senator, Helen Paul, Osama, Princewill, Mr Patrick, Frank D Don, MC Tagwaye, Kenny Blaq, Funky Mallam, Arinze Baba, 2CanTalk, Maleke, Still Ringing and AB Simple”, the statement added.
“We are proud to say that never before has any corporate body assembled this array of stars for a six-month music and comedy shows like Globacom has done for the two shows. This makes the twin mega shows very unique,” Globacom said.
In addition to the array of stars listed to perform at the shows, Globacom also disclosed that the trio of Juliet Ibrahim, Joselyn Dumas and Mercy Johnson would act as anchors, while Kanayo O. Kanayo, Richard Mofe-Damijo (RMD), Ebube Nwagbo, Funke Akindele, Odunlade Adekola, Sani Danja and other superstars would make guest appearances at the shows.
Globacom said “the shows are specially designed to celebrate and reward our teeming subscribers and to demonstrate to them that we will spare no efforts at delighting them at all times as they are the reason why we are in business. The icing on the cake is that all these array of mega stars will be entertaining our esteemed subscribers  in all the locations free of charge”.
To qualify to be part of the Glo Mega Music Tour, the company urged subscribers to use N3,000 one month before each show and text “Music” and their preferred location to a short code, 207. For instance, a subscriber who wants to attend the Abuja event should send by SMS, “Music Abuja” to 207.  For Glo Laffta Fest comedy show, subscribers are advised to useN3,000 before the show and send “LOL” to a short code, 240.  For instance, a subscriber who wants to attend the Benin show should send by SMS, “LOL Benin” to 240.‎
(Brandessence)

After 15 years, Nigerian Breweries Reinvents Star Music Trek

Technical Director at Nigerian Breweries,Henk Wymenga, 2baba, Marketing Director Nigeria Breweries, Franco Maria Maggi
Technical Director at Nigerian Breweries,Henk Wymenga, 2baba, Marketing Director Nigeria Breweries, Franco Maria Maggi

After 15 years of ground-breaking music concerts around the country, Nigerian Breweries, is overhauling its music platform, Star Music The Trek, in a move that’ll be a pleasant surprise to fans and consumers around the world.

Star Music The Trek is the most successful and consistent music platform by any Nigerian brand. The multi-city annual tour has held in over 25 Nigerian cities, featured over 50 musicians, and aired to over 100 million radio and TV audiences. Now, according to insider information, Star Music Trek is about to wear a new coat, as the company rolls out a new concept starting this week.

Hitherto music-only, Star Music The Trek will now give way to a new property called Star Music The Fusion: a union of two elements Star consumers care deeply about – music and football.

The platform will see music artistes, football legends and DJs compete in teams named after the brand’s partnered clubs; Manchester City, Real Madrid, PSG, Juventus, Barcelona and Arsenal.

Just like Star Music The Trek, it will host concerts in various cities across Nigeria. Playing on the success of the foremost nationwide tour, Star Music The Fusion will take the biggest artistes and football legends in Nigeria across the country in hopes of a team winning the competition.

The winning team will together with a group of select consumers visit the stadium of the team they represent to watch a football match live.

Victor Ikpeba
Victor Ikpeba

Speaking on the new platform, Portfolio Manager, National Premium, Nigerian Breweries Plc, Tokunbo Adodo stated that,

“It’s always frightening going into something new but we’re quite certain that the feats Star Music The Trek achieved will be inherited by Star Music The Fusion as it has all of its elements and more with the football blend. We can’t wait for Nigerians to experience the new platform as we’re sure it will be a massive success”.

Timi Dakolo
Timi Dakolo

The new platform comes in close to the Barcelona partnership announcement and the NPFL match activations solidifying the brand’s promise to connect with music and football fans across Nigeria.

Over sixty years after it was first produced in Nigeria, Star lager beer has continued to occupy the premium position by bringing a brighter shine to millions of fans. The brand has consistently sustained, through platforms like STAR Trek, STAR Quest, Star Super Fans, ‘Shine On Nigeria’ and STAR Mega Jam, its support of Nigerians’ interests and passions.

Adekunle Gold
Adekunle Gold
Collin Udoh
2baba, Falz, Yemi alade

(brandessencenigeria)

Campari Distributor Awards Holds This Friday, 2baba Set To Thrill Fans

Sole distributor of premium bitters, Campari in Nigeria, Brian Munro is set for the annual Distributors Awards, a platform that rewards loyal and outstanding distributors through the year.

Even though 2016 proved to be a tough year for consumer goods in the Nigerian market, Brian Munro is not relenting in its brand promise, which aims at rewarding excellence. According to brand manager, Campari, Rilwan Shofunde, “Indeed 2016 was a tough year, but we always redeem our promises especially to our Distributors who have shown massive support despite the harsh economy. This year’s awards will definitely be one to remember as we intend to keep up our annual standards and give them a surprise that won’t be forgotten in a while.”

This Friday, March 31st at the Renaissance Hotel, Ikeja, Brian Munro will not only be rewarding customers at the proposed ‘Aso ebi’ themed event, but will also treat guests to energetic performances from Campari ambassador, 2baba, amazing cuisine and delightful Campari cocktails.

Last year’s event had guests and key distributors go home with over 13 brand new cars, Exquisite household items among many other exciting prizes. One can only envision what premium bitters brand, Campari has in store for outstanding distributors this Friday.

Brian Munro Nigeria is the sole distributor of quality beverage brands like Campari, American Honey, Skyy Vodka, Famous Grouse and a host of others.

 

(brandessencenigeria)

 

Naira makes U-turn, drops to 385

After weeks of regaining strength on the foreign exchange market, the Naira moved in a reverse direction and dropped, albeit by a small margin, to 385 as against 382 on Thursday morning.

However, the tale on the international scene is different, as it rose to 308.05 to a dollar, as against 314.75 in the early hours of the day.

At the parallel market, the naira maintained its rate against the British pound, but exchanged at 410 to the euro as against 400 at the start of trading.

At the international market, the naira rose to 385.09 as against 391.04 to a pound and 330.59 as against 338.07 to the euro.

The apex bank announced an adjustment to its foreign exchange policy; making foreign exchange available for tuition, medical expenses and basic travel allowance.

It earlier directed banks to sell Forex at 375 but amended the policy on Monday, and asked banks to sell at 360.

“The CBN to sell forex to banks at N357/$1, while banks will sell to their customers at N360/$1 for invisibles (BTA, medicals, fees, etc),” the apex bank said in a statement.

“CBN directs banks to post new rates in the banking halls of their branches immediately. CBN examiners to visit banks to ensure the new rates are implemented.

“CBN prohibits banks from selling forex funds meant for invisibles to BDCs.”

While announcing the decisions reached at the monetary policy meeting, Godwin Emefiele, governor of the CBN, said the parallel market rates would contract further.

Emefiele added that the apex bank would be able to sustain its intervention in the foreign exchange market.

 

(TheCable.Ng)