Octa Continent Launch
- “a successful African market penetration”
In 2020, OctaFX embarked on exploring a new market - the African continent. This move marked a shift for the brand beyond its established markets in Asia and India. With Nigeria and South Africa as initial points of entry, the decision was influenced by Africa's youthful demography and a considerable level of "tech-savviness". OctaFX aimed to introduce themselves as a reliable broker that would provide additional income opportunities for their target audience.
Challenges
OctaFX faced challenges due to the unique business ethics and mentality in Africa. Uncertain of how to plan for regional penetration, they initially struggled.
The broker had launched several paid campaigns on GoogleAds, which attracted new traders and sparked interest in the region. However, Africa's complex political, economic, and cultural contexts posed a significant challenge. The task was to devise a marketing strategy for this unique region that would effectively increase brand awareness for OctaFX.
Solution
Using a data-driven decision-making approach, we successfully navigated the challenges of entering new markets and increased our brand's visibility. Our strategies included boosting customer engagement, performing thorough market and competitor research, and utilizing extensive influencer marketing.
In a three-part campaign spread over six months, we introduced two key concepts based entirely on research insights. The first concept, Dual Life, highlighted that seven out of ten Nigerians maintain side hustles in addition to their primary jobs, effectively leading two lives. The second concept, Mastery, emphasized that mastery is more achievable and prevalent than commonly assumed.
The project involved creating two social media contests, a TV commercial, online ads, billboard ads, a seven-part forex course taught by Nigerian celebrities, bus advertisements, a media tour for online PR, radio commercials, and a song for the brand.
Results
With a total reach of over a billion impressions, we converted warm audiences from earlier phases of the campaign to depositing and trading users, focusing on digital as the main channel for user acquisition. Additional details provided below.
