MeQasa Amplifies Growth with Annual Industry ExpoIn the past year, MEST portfolio company MeQasa has seen significant growth, becoming the largest online real estate marketplace in Ghana and it is only continuing to expand. Co-Founder and CEO Kelvin Nyame has been diving into a killer combination of online content and offline marketing, having hosted a successful industry expo earlier this year in Accra.
Now a marketing success story, MeQasa has had it’s share of challenges. “In the beginning,” explained CEO Kelvin, “there were a lot of failures”. Originally having tried to replicate a model from an advance market, Kelvin and the MeQasa team have learned from their past. And it’s these lessons that have brought them the success their seeing today.
Marketing for MeQasa today has evolved to a twofold online and offline strategy. Their online strategy focuses on generating traffic without paying for it through looking at search engine optimization, targeted customer alerts, and more. The MeQasa team is constantly trying to get more information from their database of home seekers and through this generate more targeted marketing. As the market in Ghana remains young, the strategy does not end there, but extends to an offline strategy, which includes targeted events and PR. They’re even tapping into the diaspora.
[caption id="attachment_5486" align="aligncenter" width="750"] Kelvin Nyame, Co-Founder and CEO (Image: MeQasa)[/caption]
MeQasa’s Housing Expo is the annual industry event with industry experts, media, customers, and more in attendance. Last year, the event featured a panel discussion on the mortgage and lender space. This year’s event not only featured targeted discussion panels of industry experts, but also a fair that provided companies an opportunity to exhibit their brand for a fee.
The fair has allowed MeQasa to explore offline marketing as a revenue stream and the results have been stellar. The revenue from the fair contributed 20-30% of MeQasa’s annual value and 20 people bought houses during the fair. The concept’s success is no surprise as not only was a full team dedicated solely to the task of the expo, but the idea came from looking at what is currently working in other markets.
So how did MeQasa get to where they are today? Kelvin believes that, “Although there’s a playbook for building a marketplace, it doesn’t always work. You have to get dirty to understand. Frontier experience is key”.
When asked about MeQasa’s successful marketing strategy, Kelvin Nyame believes people having brand trust is crucial. Offline marketing has helped to build the trust so necessary for success. Nyame explained, “Buying a house is a big investment - they need to see that you’re here for the long-term”. MeQasa is certainly showing customers that they are here for the long-term and we look forward to watching them continue to grow!
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Due to COVID-19, MEST postpones training program to next year and doubles down on growing portfolio companies
At MEST, we continue to be deeply concerned about COVID-19 and have been closely monitoring developments locally and globally. Our number one priority remains the health and safety of our community and we will continue to follow local authority and health official guidelines.
Due to the ongoing nature of the pandemic and the uncertainty that the future of travel holds, we have been unable to conduct in-person interviews and host recruitment around Africa for our next cohort. For this reason, we have taken the decision to postpone the Training Program to next year.
While these circumstances are indeed unfortunate, we see this as an exciting opportunity at MEST to double down on providing support and mentorship to our existing portfolio companies and the African ecosystem.
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