From studying sociology to communications and finally making the leap to marketing analytics, Efe Uduigwomen is one woman who has her hands in different pies and is never afraid of taking big steps. She speaks with SEGUN ADEBAYO about her career and the critical role of data-driven marketing strategies in modern business.
Could you share with us how you went from studying sociology to a career in communications, and then made the leap to marketing and analytics in tech? What sparked this shift in your career path?
It’s been quite a journey, full of following my passions and a lot of learning along the way. I started in sociology during my undergrad days because I was interested in human behavior and societal trends. After I graduated, I naturally moved towards communications, mostly because of my interest in social media. I remember being one of the early birds on Twitter and just loving how it connected people from all over the world. I kicked off my career managing social media for a small photography startup in Surulere. From there, I moved into the fintech world, working with companies like Paga, Risevest, and Casava. In these jobs, I always found myself wondering, “What’s next?” I started to see how tech and data were changing the way we talk about and market things, and that caught my attention, especially in product marketing and analytics. What really drove me to shift my career was seeing the rapid growth in the tech sector, particularly in marketing and analytics. The idea of being at this crossroads, using both insights into human behavior and data to shape marketing strategies, was just too exciting to pass up.
Looking back at your career, what do you consider your biggest accomplishment and why?
One of my significant accomplishments was the work I did at Risevest, a fast-growing fintech firm in Nigeria. This job was really important to me because it played a big part in getting me to where I am today. When the opportunity came up to join and lead Risevest marketing, I saw it as more than just a marketing or tech role; it was a chance to make a difference. At the time, our primary objective was customer acquisition and for a number of reasons. My responsibility was to develop strategies for relaunch, driving product awareness and user acquisition. In my first year, leading my team, we grew our user base by over 2000 per cent and increased our revenue by 10x!
That’s remarkable growth. Could you elaborate on the challenges you faced during this period and how you overcame them?
Our growth spurt happened right when the pandemic hit. As everyone knows, the lockdown shook up a lot of businesses. With so many layoffs and the economy taking a hit everywhere, it was tough for people to part with money, or trust another product, especially on a new fintech product like ours. Trying to market our product was tricky too. We had to structure our content, making sure our messages were sensitive to the situation but still focused on what our Risevest app could do. Getting past these challenges wasn’t easy, but thankfully, our product kind of spoke for itself. The app had different features that appealed to various people, so there was something for everyone. We put a lot of effort into data analytics and leaned on it for a lot of decisions. We saw opportunities in community marketing and how building trust was key with our early users who really believed in our product’s value. Another big help was joining the Techstars program. As the marketing lead, I got to join in on some really insightful sessions. I learned a lot about navigating the market during those times.
How have you leveraged data analytics and how can businesses use it in informing marketing strategies?
In my experience working with companies like Paga and Risevest, I’ve learned the crucial role of data analytics in marketing. I live by the mantra ‘data-driven decisions.’ The initial step in this approach is to dig into customer and channel data; analyze who is using our app, how they are using it, and what features they interact with the most. This deep dive helps us unravel users’ behaviours and preferences, which is pivotal for tailoring marketing strategies. Real-time tracking of marketing performance is another key practice. We assess which ad or content pieces garner the most engagement and quickly adjust our strategies to focus on what works best. on these successful elements. For example, if a certain ad style is gaining traction on social media, we reallocate resources to leverage this trend. I firmly believe that businesses must be aware of market trends and prioritize customer feedback. This approach enables businesses to anticipate customer needs and adapt their offerings accordingly. It’s a strategy that not only enhances marketing effectiveness but also boosts conversion rates and results in substantial cost savings.
Can you share an instance where your approach significantly impacted a project or a campaign?
There was this one time when we were running a campaign at Paga, and experimenting made a difference. What we did was focus on the landing page copy. We wanted to see which version would resonate more with our audience and drive more signups. So, we set up a few different versions of the landing page, each with a slightly different style of copy. Some were more straightforward, while others had a bit of a creative twist. We monitored these closely to see which one performed the best in terms of signups and conversions. The results were insightful. We found one particular version that significantly outperformed the others. Because of this experiment and the data we drew insights from, we saw a substantial increase in signups and conversions, which was a big win for the campaign. Without this approach, I’m pretty sure we wouldn’t have hit such a good return on investment.
How did you bridge the knowledge gap in marketing and analytics? Were there any specific courses, certifications, or self-learning methods you found particularly helpful?
Absolutely, bridging the knowledge gap in tech and analytics was quite a journey for me. It started with some online courses that laid the groundwork. One that stands out is the ‘Marketing Analytics’ course by the University of Virginia, available on Coursera. It was a good one as it blended marketing concepts with analytics in a way that was both insightful and practical. I also took the Google Analytics course offered by Google. These were super helpful in getting a grip on web analytics, like understanding user behavior on websites, which is crucial for any digital marketing strategy. But the real learning has come with my Master’s in Marketing Analytics at Illinois Institute of Technology, Chicago where I’ve learned SQL, which opened up a whole new world of database management and data querying. Tableau for turning data into visually compelling stories, which is so important when you’re trying to explain your insights to others. And of course, there was advanced Excel, which is pretty much indispensable in this field. I practice on my own as well.
From your experience, how do you perceive the role of marketing analytics for businesses in the tech industry?
I view marketing analytics as a pivotal aspect for businesses in the tech industry. It serves as the backbone for informed decision-making and strategy development. In a sector that’s constantly evolving, marketing analytics provides the insights needed to understand market trends, consumer behavior, and the effectiveness of marketing campaigns. At its core, marketing analytics allows businesses to measure and analyze their marketing performance. This not only helps in optimizing current campaigns but also guides future strategies. By leveraging data, companies can identify what resonates with their audience, tailor their messaging, and improve their overall marketing efficiency. In essence, marketing analytics in the tech industry is not just about crunching numbers; it’s about extracting actionable insights that drive growth, enhance customer engagement and foster innovation.
