Barriers and Benefits of Online Presence in Nigeria

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November 15, 2014

Barriers and Benefits of Online Presence in Nigeria

The Online Naira

It is estimated that only 10% of businesses in Nigeria have an online presence. This sounds like a joke considering the fact that the internet contributes about 1% of Nigeria’s GDP. Nigeria is among the largest economies in Africa so 1% of the GDP is definitely a few billion Nairas. The benefits of having an online presence for any business cannot be easily summed up. The internet is the modern day cash cow for businesses. Hence for a successful business in the 21st century online presence is a must.

 

Barriers to online presence

Online business presence in Nigeria faces many barriers, from the businesses themselves and some from other external factors. Some of these barriers may include:

Ignorance. Due to little knowledge of the benefits that your business can get from an online presence many people don’t bother with it. Ignorance is a very bad disease in any society as it is the major cause of backwardness.

Illiteracy. It is not uncommon to find very shrewd businessmen but with very little education. This is evident especially with the older generations. Having little education means that some of this businesspeople don’t even know how to use the internet. As much as they would like to place their business online they don’t know how to go about it.

Infrastructure. Nigeria just like many other African countries faces a big challenge when it comes to infrastructure. Some basic infrastructure is only available in the urban centers e.g. electricity and internet connection. These are two important things for one to be able to connect to the internet.

Small scale businesses. The larger percentages of businesses in the Nigerian economy are small scale businesses like the small community shops in the village or the small carpentry business in the neighborhood. Due to the small scale nature of their businesses this entrepreneurs don’t see the importance of an online presence. As a matter of fact many believe that the internet is for the ‘giant’ companies. However, what they don’t know is that it is their small businesses contribute far much more to the economy than the perceived big companies.

 

Benefits of an online Presence

As a businessman, if you have a vision for the growth of your business then an online presence is the best thing you can do for it. If you want to make more Naira then online is the perfect starting point. The benefits of an online presence in Nigeria may include the following:

Wider reach. Did you know that more than 40 million Nigerians are on the internet and the number is on a steady increase? Out of this figure imagine how many potential customers are waiting for you. The internet has a greater reach and provides you with a ready market for your products.

Nonstop exposure. The internet gives you exposure for every minute of the day and every day of the year. Even if you decide to close shop for a few days someone can still find information about you online if they cannot contact your shop during that period.

Cheap advertising. The internet is perhaps the cheapest mode of advertising. Anything that you post on social media is normally for free so you can post about your business an unlimited number of times.

Better customer service. Having an online presence means you can be able to receive and respond to your customers queries in real time. This will lead to more satisfied customers and hence making them more loyal to your business.

Stop wasting time as people are literally becoming overnight billionaires online. Go ahead and claim your share of “The Online Naira” by taking the first step and creating your website. For this you have the perfect partner in Xposedigital, your one stop shop for all you will ever need in your new web.

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