Insights Unveiled: AFTS Presents Nigeria Fintech Marketing Outlook 2024
- Paid advertising was the dominant channel for customer acquisition in Nigerian fintech verticals in 2023.
- Sectors like Merchant Payments, Point-of-Sale, Investment & Wealth Management, and Digital Lending witnessed substantial customer acquisition costs in 2023.
- Fintech companies are allocating 50% of marketing budgets to the most effective channels for each specific vertical.
The 'Nigeria Fintech Marketing Outlook 2024' report provides valuable insights into the marketing strategies of Nigeria's fintech industry. The dominance of paid advertising and the focus on efficiency highlight the competitive nature of customer acquisition. The adoption of Generative AI and the increasing reliance on organic channels demonstrate the industry's willingness to explore innovative approaches. However, the report also acknowledges the challenges faced during the funding winter of 2023, emphasizing the need for leaner operations and tighter budgets.
