Business News of 2014-07-02

Online trading will mature faster in Ghana

Despite the thriving online trading in more matured markets like Europe and the USA, this form of marketing will grow at an exponential rate than what has been experienced in these markets, a top official of Tonaton.com, the largest marketplace in Ghana has said.
“Internet penetration is growing so much faster here than it did in Europe. Advancements in mobile technology and the high levels of mobile phone penetration in Ghana has impacted positively on internet access which is the bedrock of successful online marketing. This mode of trading therefore has all the building blocks for positive growth in Ghana”, says Estelle Westling, Head of Tonaton.com.
She noted that when online marketing was introduced in Europe, the market wasn’t ready for it as the patronage for online websites was low. People still preferred traditional offline platforms as newspapers, TV and magazines. As people started to go online to see the latest news and getting the latest deals on classified websites, the barriers between traditional and online marketing blurred out.
“Marketing managers realized that people went online several times per day and spent a lot of time on the sites. Advertising online enabled them to reach their target group more efficiently, change the advertising message easier and more often and measure the marketing effects more efficiently”.

Ms. Westling was speaking on the sidelines of a forum organized by Tonaton.com to educate media advertisers and other businesses on the benefits of online marketing dubbed “Go-Digital-Win Markets”. She further stated that online trading is the surest bet for advertisers in Ghana with the current rate of internet penetration currently pegged at 47% according to the National Communications Authority.
“With this growth trend, print advertising will decrease gradually since online will capitalize on the growth in internet penetration. This is the future of advertising as experienced in so many countries like the United States of America, Europe and other mature markets”, she noted.
Tonaton.com is currently putting in a lot of effort to sensitize people about the benefits of online marketing. The forum was part of the drive towards encouraging businesses to invest a sizeable portion of their marketing budgets in online advertising. The brand itself has invested a lot in online marketing which has pushed it to the 3rd biggest local website within a year of launch with as many as 600,00 unique visitors per month. Tonaton.com, undoubtedly is a household name in Ghana now.