Revenue Growth – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Fri, 05 Jun 2026 15:47:18 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Revenue Growth – Tech | Business | Economy https://techeconomy.ng 32 32 84% of Firms Expect PR to Drive Business Results Within Two Years, Report https://techeconomy.ng/84-of-firms-expect-pr-to-drive-business-results-within-two-years-report/ https://techeconomy.ng/84-of-firms-expect-pr-to-drive-business-results-within-two-years-report/#respond Fri, 05 Jun 2026 15:47:18 +0000 https://techeconomy.ng/?p=182944 More than eight in 10 organisations expect public relations to play a big part in sales and business performance over the next two years, while nearly three-quarters say changes in search and information discovery have already made PR more strategic.

This is according to a new global benchmark report released by Outcomes Rocket, which surveyed 858 marketing and communications professionals across industries and company sizes worldwide.

The study found that 84.1% of respondents believe PR will take on a larger part in supporting sales and business outcomes by 2028.

At the same time, 73% expect PR to become even more strategic as organisations adapt to changing ways people find and consume information.

The findings indicate that PR is moving beyond its traditional role of generating awareness and media coverage. Companies now see it as a business function that supports credibility, customer trust and revenue growth.

Seven in 10 organisations said PR now plays an important role in their go-to-market efforts and this is also seen in company structures.

Nearly half of respondents, 48.7%, said PR is fully integrated with marketing and sales teams, while another 36.6% reported partial integration.

Despite that thriving influence, many organisations still focus their PR efforts on awareness rather than direct business results.

Increasing brand awareness is the leading objective for 66.3% of respondents. Reputation management follows at 39.4%, while only 14.4% said supporting go-to-market campaigns is a key priority.

Just 17.1% listed visibility in emerging search environments among their main objectives.

The report also highlights the gap between the importance companies place on PR and how they measure its impact.

Half of the organisations surveyed still rely mainly on traditional indicators such as media mentions, impressions and share of voice.

Although 43.7% connect PR activity to website traffic and 41.3% track referral visits from earned media, 11.5% admitted they do not systematically measure PR impact at all.

For many teams, proving business value is difficult.

Budget limitations emerged as the most common challenge, cited by 30.9% of respondents. Another 26.7% said they lack clear tracking processes or key performance indicators, while 25.4% struggle to connect PR activity to sales and revenue outcomes.

The study found that organisations are also failing to maximise the value of media coverage after it is secured.

Only 13.1% share earned media coverage directly with sales teams, while just 6.1% incorporate PR insights into sales training and enablement programmes.

Meanwhile, 33.2% use PR content in marketing campaigns, but only 21.7% repurpose media coverage into blogs, newsletters or other owned content.

Budget trends point to maturing trust in PR, although investment remains measured.

On average, organisations allocate 14% of their marketing budgets to PR. Nearly half, 47.7%, increased PR spending over the past year, although most described those increases as modest rather than substantial.

The report also found that 44.8% of organisations increased PR investment because of changes in search and content discovery, while 32.5% reported no change in spending.

Most companies manage PR internally. More than a third, 35.9%, operate dedicated in-house PR teams, while 34.9% handle PR through broader marketing departments. Only 8.4% rely entirely on external agencies.

Another key finding centres on governance and policy.

While the use of automation and digital tools has become global across communications teams, only 21.4% of organisations have formal, documented and enforced policies governing their use. More than 70% lack fully established guidelines.

Respondents identified data privacy and compliance as their biggest concern, cited by 40.1%. Accuracy issues followed at 37.9%, while 29.2% worried about losing a consistent brand voice.

Even so, the report found limited evidence of major negative consequences so far. More than a third of organisations, 35.4%, said they had experienced no major issues. Only 6.6% reported reputational or quality-related problems.

Over the next two years, respondents expect automation to be the strongest force driving PR. Nearly half, 46.6%, pointed to automated workflows as the biggest trend, followed by growth in digital PR activities at 38.2%.

Summing up the findings, Outcomes Rocket said PR has reached a turning point as organisations connect communications efforts with commercial outcomes.

The data shows that PR is no longer a supporting function. It is a strategic driver of visibility, authority, and business impact.”

The company added that while PR’s influence grows, many organisations still face gaps in execution, measurement and governance that could limit their ability to demonstrate business value.

The report is based on a global survey conducted in March 2026 among 858 marketing and public relations professionals drawn from sectors including professional services, technology, education, ecommerce, healthcare, financial services and manufacturing.

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OpenAI Targets $100bn Ad Revenue by 2030 as ChatGPT Ads Gain Early Traction https://techeconomy.ng/openai-ad-revenue-100bn-2030-chatgpt-ads-growth/ https://techeconomy.ng/openai-ad-revenue-100bn-2030-chatgpt-ads-growth/#respond Thu, 09 Apr 2026 13:19:50 +0000 https://techeconomy.ng/?p=179378 OpenAI is betting heavily on advertising, with internal projections showing the business could bring in $2.5 billion this year and grow steeply to $100 billion by 2030.

Details shared with investors, and reported by Axios, outline a strong growth path. The company expects ad revenue to reach $11 billion in 2027, then $25 billion in 2028, and $53 billion in 2029.

These figures depend on one key assumption where OpenAI believes its products could reach 2.75 billion weekly users by the end of the decade.

Early this year, OpenAI began testing ads in ChatGPT for some users in the United States. The test focused on people using the free tier and the lower-priced Go plan.

Within six weeks, the pilot crossed $100 million in annualised revenue. By March, more than 600 advertisers had signed up.

That early traction gives a clearer picture of where the company is heading. Ad is no longer an experiment but an indispensable part of how OpenAI plans to make more revenue, alongside subscriptions and enterprise deals.

The market is large but crowded. Alphabet reported $294.69 billion in advertising revenue in 2025, while Meta posted $196.18 billion.

OpenAI is trying to take a share of that ad market by using a different advantage, ultimately boosting revenue. In chat-based systems, users usually state exactly what they want, which could make adverts more precise.

Still, there are issues. Some analysts have warned that showing ads inside ChatGPT could affect how people trust the service but OpenAI says it has not seen that so far.

The company reports low dismissal rates and no drop in its trust metrics since the pilot began.

Not everyone is taking the same route. Competitor Anthropic has said its Claude chatbot will remain ad-free, drawing a line between the two approaches.

Meanwhile, advertising is expected to carry a large share of OpenAI’s revenue as it tries to keep up with the high cost of building and running its AI systems.

The company is also strengthening itself as a business that can scale in the same way as the largest internet platforms, with ads being a big part of that plan.

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Digital Adoption Still Low Among 1.7 Million Small Businesses, Despite 10% Revenue Boost – Report https://techeconomy.ng/digital-adoption-still-low-among-1-7m-small-businesses/ https://techeconomy.ng/digital-adoption-still-low-among-1-7m-small-businesses/#respond Thu, 24 Apr 2025 10:19:54 +0000 https://techeconomy.ng/?p=157368 New research from the Center for Financial Inclusion (CFI) at Accion released today reveals that MSEs adopting digital tools are up to 10% more likely to report revenue growth, but usage of these tools remains low. 

CFI’s report provides the clearest picture yet of the challenges and opportunities that determine the business trajectory of micro and small enterprises (MSEs) in five rapidly changing emerging markets.

The survey of MSEs across Addis Ababa, Delhi, Jakarta, Lagos, and Sāo Paulo revealed digital products and services offered opportunities for growth and greater efficiencies, while highlighting resource constraints, consumer protection risks, and heightened vulnerability to economic and climate shocks, as challenges faced by the businesses.

Key findings from the study include:

  • MSEs adopting digital tools were up to 10% more likely to report revenue growth, but usage of these tools remained low. In Addis Ababa, more than half of MSEs reported using no digital technology applications. MSEs in Delhi, Jakarta, and Lagos were using at least one digital tool.
  • Entrepreneurs across the 5 cities reported using an average of 1.8 to 5 formal financial services, reflecting diverse levels of adoption and engagement with financial tools. Businesses that integrated digital payments reported significantly higher revenue per employee.
  • Women entrepreneurs represented 70% of MSE owners in Jakarta, but just 11% in Delhi, with figures of 35% in São Paulo, 43% in Addis Ababa, and 53% in Lagos. In many markets, MSEs are not started by choice but as a response to unemployment, making the businesses more vulnerable and reducing long-term resilience, which has implications for financial service design.
  • 1 in 3 micro and small businesses reported being impacted by drought, floods, or other environmental shocks, and less than 20% reported being able to come up with emergency funds within one week. Of those entrepreneurs impacted by an environmental shock, up to 29% said they were more likely to invest in adapting their business to the changing climate.

The study, supported by the Mastercard Center for Inclusive Growth, used Adaptive Cluster Sampling – a research technique that enabled a strong focus on urban areas with high numbers of MSEs. CFI focused on understanding the drivers of financial health for MSEs that represent the largest source of income generation in emerging markets.

A total of 20,000 MSEs were surveyed, with 4,000 interviews conducted to build a sample that represents 1.7 million MSEs across the 5 cities.

Nowadays, small businesses are facing unprecedented threats, from cyberattacks to the economic impact of extreme weather events,” said Payal Dalal, executive vice president of global programs at the Mastercard Center for Inclusive Growth.

The research released by Accion highlights the opportunity to work alongside small businesses to provide solutions that secure them against these challenges; it’s not only about mitigating risks in the digital economy but making sure small businesses have the opportunity to thrive during this increasingly volatile time.”

The research highlighted the importance of access to digital technology and formal financing, but noted resilience was determined by a wider range of factors including personal safety nets, such as savings and informal support systems.

Businesses that combined access to credit, savings, and insurance with strong financial literacy were better positioned to manage shocks, and entrepreneurs with higher education levels were more likely to use a mix of different formal financial services, contributing to stronger resilience and improved financial health.

Researchers tracked the use of 10 distinct non-financial and financial digital technologies among MSEs, showing stark differences in adoption. In Addis Ababa, MSEs used an average of only 1.6 digital technologies, largely due to poor internet connectivity.

In contrast, Delhi, Jakarta, and Lagos showed wider adoption of digital tools, with messaging apps and social media used widely to engage customers.

E-commerce platforms remained under-utilized by MSEs across all cities, emphasizing potential for significant growth when barriers such as digital literacy and access are addressed.

The study also revealed many MSEs are already making small investments to prepare for shocks, such as stocking up on supplies before expected disruptions, investing in backup power sources, or reinforcing physical infrastructure.

Yet the same businesses reported low levels of borrowing in response to emergencies, demonstrating that financial services are not structured to support these types of preemptive or recovery-oriented investments.

During emergencies, traditional application and approval processes can be disrupted, leaving businesses without timely support, and underscoring the need for disaster-resilient financial services, such as pre-approved credit lines or insurance products that can provide immediate assistance to businesses when they need it most.

Edoardo Totolo, vice president of Research and Programs at the Center for Financial Inclusion at Accion and lead author of the report, said: “Our research shows when micro and small businesses are connected to the digital economy and a range of financial solutions, they are better equipped to withstand real-world emergencies. Unfortunately, insurance, savings, and responsible credit remain out of reach for many of these businesses that are the engines of their national economies.

“While the advantages of going digital are clear, policymakers and financial providers must design products tailored to the needs of these vulnerable businesses that they can easily use and trust to ensure advances in technology improve their financial health.”

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How Adding Creativity to your Marketing Strategies Boosts Customers, Revenue Growth https://techeconomy.ng/how-adding-creativity-to-your-marketing-strategies-boosts-customers-revenue-growth/ https://techeconomy.ng/how-adding-creativity-to-your-marketing-strategies-boosts-customers-revenue-growth/#respond Thu, 09 Mar 2023 11:36:03 +0000 https://techeconomy.ng/?p=97410 Creative marketing is the key to getting your products in front of people. It’s also one of the best ways to get them to want to buy from you and recommend you to their friends. 

Creativity can make all the difference in how well your products are received, but it can be hard to know how and where to use this power effectively. 

Here, we’ll discuss some ways you can add creativity into your marketing strategies so that they stand out from competitors’ offerings while still appealing to consumers‘ interests and needs:

How to add creativity to your marketing strategies to gain more customers, revenue

Here’s how creativity can help you stand out from the competition:

  • It helps you create content that is memorable and shareable. If your competitors are already creating quality content, why not join them? The best way to do this is by adding some creativity into your marketing strategy. For example, one of my favourite companies has an interesting name. They also have an interesting logo design. But they don’t stop there; they have unique videos on their YouTube channel to promote their business! In fact, their videos receive thousands of views each month. This shows us how effective it can be when companies add creativity into their marketing strategies when trying to promote themselves through social media platforms like Facebook or Twitter where millions of people use these sites every day just like yours does today!

The power of creativity in marketing is huge

In the world of marketing, creativity is often underappreciated.

Creativity can help you stand out from the competition and be more memorable, unique and engaging. It’s also a powerful tool that can help you achieve results that would otherwise take years to accomplish with more conventional techniques like direct mailings or social media advertising.

People buy from people they like

In a world where consumers are making purchasing decisions based on emotion and gut instinct, there’s no reason why you can’t use this trend to your advantage.

The first step is understanding that people buy from people they like. This may seem obvious, but it’s important to remember that our brains are wired in such a way that we look for positive reinforcement when we’re considering buying something new or different–even if it isn’t necessarily the best option available at the moment! So if someone gives us positive feedback about something we did or created (like recommending them), then chances are good that they’ll do the same thing again–and maybe even recommend other things as well.

This means everything from online reviews all the way down to word-of-mouth recommendations can have an impact on whether or not someone will purchase from YOU!

They want to interact with people who are interesting and entertaining

  • People want to interact with people who are interesting and entertaining
  • They want to learn from them
  • And they can be entertained by them!

They like to be engaged in a conversation

People like to be engaged in a conversation. They want to feel like they are part of something bigger than themselves and they don’t mind if it’s not necessarily something lucrative or profitable for them.

They want to be part of a community and movement that resonates with their personal values, beliefs, etc., so when you’re creating content for your audience, think about what you can use as a platform for people who share similar interests (or even just like reading).

Your brand is not a billboard or a product, it’s about you and what you stand for

Your brand is your personality.

It’s what people say about you when they leave the store, on social media or in conversations with other people. Your reputation can be different depending on where you live and what industry you work in–that’s why every business must have a consistent message across all platforms (i.e., website; social media profiles; email newsletters). 

The same goes for values: They need to align with how customers view their products/services as well as how they want to be treated by others while doing business with them–and these values should also extend beyond just being communicated through marketing materials like press releases or blog posts; they should permeate into everything from customer service interactions down through internal processes like hiring practices at corporate headquarters (which may include recruiting new employees).

Create content that is memorable and shareable

  • Create content that is memorable and shareable
  • Make sure the content is interesting, entertaining, relevant and unique from the competition

Create content that is unique and different from the competition

In order to create content that’s unique and different from the competition, you need to think about what makes good content.

  • Unique: It should be something that no one else is doing, or could do easily. For example, if someone else is using a certain headline or tagline on their blog posts, it might not be so unique anymore after they’ve done it so many times before–but if yours is the only one using it (or even better, if none of your competitors are), then there’s something special about it! This can mean anything from an interesting idea for a blog post title (“The Ultimate Guide To Getting Your Pet Bird To Talk”) to an original way of presenting information (“How Do I Create A Customized House Plan?”).
  • Different: If someone else has already created something similar and popularized it with their audience (like a cat calendar), then don’t just follow suit and make another version yourself; instead try something new! Maybe take some inspiration from other people who have done similar things before but in different ways than yours? Or maybe even go against conventionally expected practices altogether by doing things differently than everyone else would expect.

Ensure your content has a message that resonates with your audience

Make sure your content is relevant to your audience. You can’t expect people to take the time to read or watch something that doesn’t have any connection to them, and you’re not likely to get any good results from it.

Make sure your content is interesting. If they don’t find it interesting enough in the first place, why would they want to read or watch it?

Make sure your content is entertaining (for example: funny videos). A lot of people are turned off by boring videos that don’t entertain them at all; if there’s no entertainment value in the video itself and only an appeal through shock value (e.g., “Look how crazy this guy was!”), then chances are very low that anyone will bother watching until the end where maybe something funny happens…and then back into boredom after that!  That doesn’t mean all humour should be dark/violent either though; some lighthearted jokes can go along nicely too!

Creativity in marketing can make all the difference in how well your products are received

  • Creativity is the key to success
  • Creativity is a powerful tool that can be used to create content that is memorable and shareable, as well as unique, different from the competition
  • Creativity should be used in all marketing campaigns, from social media posts to brochures or advertisements.

 

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