In a surprise morning announcement, The National Bank of Egypt, announced on its website that the dollar could be bought for 13 Egyptian pounds and sold for 13.50 pounds each, a considerable change from its previous rate of around 8.88 Egyptian pounds to the dollar. The move is the latest in a fight by the Central Bank to eradicate the country’s foreign currency black market.
The National Bank of Egypt decision should improve Egypt’s external competitiveness, support exports and tourism and attract foreign investment,But! how this move will affect the digital marketing agencies in Egypt?
The great lesson in this article is all about spotting opportunities for Egyptian digital marketers, to see and implant many seeds that should flourish into a BIG WIN!
Publishers Can Make Money Online via Website Monetization
Egyptian publishers will be able to earn money from your online content, Allot of Ad servers offers a simple and free way to turn your passion into profit by placing ads on your website.
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Try to win consistent revenue from Adsense or, Yahoo! Bing advertising network for publishers powered by Media.net which easily and effectively will help you to earn more revenues from digital advertising displaying relevant text ads consisting of sponsored links.
Depends what you’re trying to accomplish, you also would consider content discovery platforms like Taboola or, Outbrain which also provides a way for publishers to buy and sell traffic by providing third-party links to relevant content.
Mobile Application Development Agencies
With 7.9 billion global devices and connections, there are now more mobile devices than people in the world. People spend the majority of their time on phones, Mobile App developers can earn more money from Mobile App advertising.
If your agency got an idea for developing specialized mobile apps without compromising on outstanding user experience, you should go for it and make money in USD which will be exchanged under the new currency rate.
It doesn’t matter whether your app work in online mode or offline mode, these are 3 main ways you can monetise from your App on Android:
1- Paid App: user has to pay a one time pre-defined cost set by the developer to download the app from play store.
2- In-App-Purchase: The App can be both paid or free but you can add special features in the app for which you can charge user. For example: additional lives in a game or virtual money to buy goods in a game
3- Showing Ads in the App: Again your app can be both free/paid and you can show ads in the app via using any ad provider like Admob or inmobi etc.
Also note that Apple App Store makes twice the money Google’s Play Store does, despite most of the world using Android!
Facebook Ads: Not a Big Issue Anymore!
Over the past few months, The Central Bank of Egypt has introduced new restrictions on cash deposits in US dollars. Egyptian digital advertisers have been suffering when they need to transfer money for personal or business needs.
The new restrictions on cash withdrawal and online payments are expected to be enhanced to offer more flexible terms which will favor Egyptian advertisers on digital media especially Facebook.
Also, you can change your preferred currency for payments on Facebook to Egyptian Pound ” EGP ” not $ USD by applying the following 3 steps:
1- Click in the top right of Facebook and select Settings
2- Click Payments in the left menu and then click Account Settings
3- Below Preferences, select your preferred currency and then click Save Changes
New Competitive Edge for International Markets:
Digital marketing agencies and outsourcing web design companies that serve foreign markets will be blessed by the National bank of Egypt’s decision.
The new dollar exchange rates will increase their competitiveness and ability to export more services by offering world-class level service with less prices and hence the agency’s capacity to gain more clients with low-cost resources.
Also, the team salaries will be paid at a lower cost until your finance will considers an increase for the team salaries to shorten the gap between salaries and the expected price increase at rates not less than 50% for imported goods.
These is some of the ideas we got to help Egyptian digital marketers to get more profit, and our thoughts, if you got any do feel free to share them in a comment on this article.