GoDaddy Bridges the Digital Divide: Empowering MENA's Entrepreneurial Spirit
Updated 6/4/2024 8:00:00 AM
Arab Finance: Since its inception in 1997, GoDaddy has been a prominent player in the domain name and website hosting industry.
In this exclusive interview, Selina Bieber, Vice President of International Markets at GoDaddy, discussed the digital needs and goals of Egyptian businesses, exploring GoDaddy's pricing strategy, expansion plans, and efforts to bridge the digital divide.
This interview also captures the essence of GoDaddy's recent achievements and successes in the region, providing insights from their Q1 2024 surveys and initiatives aimed at empowering small business owners and entrepreneurs.
This comprehensive view offers a detailed understanding of how GoDaddy is shaping the entrepreneurial landscape in the Middle East and North Africa (MENA).
1-GoDaddy recently conducted a survey of business owners in the first quarter of 2024 in Egypt. Can you share some key insights from this survey about the digital needs of Egyptian businesses?
GoDaddy's Q1 2024 Global Entrepreneurship Survey paints a very optimistic picture of the entrepreneurial landscape, particularly in Egypt.
The entrepreneurship scene is flourishing, with a high percentage (86%) falling into the Baby Boomer age range, surpassing Generation X (78%), Generation Z (78%), and Millennials (59%).
Despite being relatively new to owning a business, with 71% reporting five years or less in operation, what's truly exciting is their proactive approach to seeking guidance and mentorship (80% of respondents). This hunger for learning is further emphasized by the fact that 80% are not afraid to ask questions to help propel their business forward.
Nearly 40% rely on dedicated business mentors, while 43% leverage support from friends or family.
Interestingly, the data reveals a gender gap in mentorship, with 44% of women seeking guidance from a business mentor compared to 29% of men. This insight suggests potential opportunities to expand online resources, an area GoDaddy is actively working on addressing.
Furthermore, the survey shows that the inclination towards embracing technology is particularly evident in the high confidence of entrepreneurs in the use of AI, with 93% of respondents feeling comfortable using AI tools.
Moreover, 54% of respondents plan to leverage technology for market expansion. This aligns well with the overall direction, where many small businesses view digitization as a key contributor to their business performance.
GoDaddy, acknowledging these trends, provides user-friendly tools with a variety of AI-powered resources to help businesses achieve new efficiencies. We are committed to supporting their journey by providing tools and resources and fostering a diverse and inclusive environment where everyone can thrive.
2-Can you share some of the insights that reflect GoDaddy’s robust success and presence in the Middle East, specifically Egypt?
GoDaddy's performance in Q1 2024 showcased a robust growth of 7% year-over-year (YoY) in revenue, notably driven by a 13% increase in Applications and Commerce revenue, underpinned by a thriving digital entrepreneur community.
With over 21 million paying customers and an impressive 85% customer retention rate, GoDaddy's presence in Egypt through the 2024 Data Observatory for Q1 highlighted that 54% of Egyptian small business owners are embracing technology to expand their businesses and attract new customers.
In Egypt, GoDaddy's commitment to empowering entrepreneurs is evident through tailored tools like the Arabic Website Builder and GoDaddy E-store in Arabic, enabling local entrepreneurs to establish their digital footprint in their native language.
These offerings complement existing English online tools like the GoDaddy Website Builder and Managed WordPress plans, providing Egyptian entrepreneurs with a diverse range of options to align with their business objectives and customer preferences.
Moreover, GoDaddy's engagement in local initiatives, such as the "Get Your Business Online" program in collaboration with the Ministry of Planning and the Egyptian Entrepreneurship and Innovation Center, demonstrates a holistic approach to supporting Egypt's entrepreneurial ecosystem.
By offering workshops, website-building assistance, and exclusive discounts post-training, GoDaddy ensures a comprehensive support system for budding entrepreneurs.
Additionally, GoDaddy's strategic partnerships with organizations like Fawry in Egypt and Du Business in the UAE further enhance the digital landscape for small businesses by providing seamless payment solutions and essential online tools.
Collaborations with entities like Startups without Borders, the General Authority for Small and Medium Enterprises in Saudi Arabia, and MyFatoorah in Egypt underscore GoDaddy's commitment to fostering entrepreneurship through training programs, payment solutions, and community-building initiatives.
Educational workshops with organizations like Entreprenelle, Rise Up, and Techne Summit further solidify GoDaddy's dedication to empowering entrepreneurs across the region.
3-Leveraging insights from GoDaddy's Q1 2024 survey of Egyptian business owners, could you elaborate on the key goals and priorities driving this entrepreneurial move?
GoDaddy’s Q1 2024 Data Observatory in Egypt offers a compelling glimpse of a thriving entrepreneurial landscape. Here are some insights into their goals:
A Focus on Building Value: While customer acquisition is a top goal for all (54%), a significant number of female entrepreneurs prioritize fostering long-term customer relationships (49% vs. 33% for men). This highlights a strategic approach focused on customer experience and engagement, particularly among female business owners.
Embracing Innovation: Interestingly, despite a high comfort level with using AI (93%), there is a gap in proactively integrating emerging technologies. Here, we see more male respondents expressing interest (37% vs. 31% for females). GoDaddy recognizes this and remains committed to bridging the STEM awareness gap for women entrepreneurs globally.
Generational Shifts: Millennials and Gen X share similar goals, prioritizing customer experience, operational efficiency, and integrating new technologies. However, Gen Z stands out with a lower focus on operational efficiency and emerging tech (approximately 10% difference). This might indicate a belief in already running lean or a focus on initial growth, potentially due to younger businesses and experimentation with technology.
Passion and Purpose Take Center Stage: Financial security remains a factor (18%), but a strong emphasis on purpose and innovation is emerging. Nearly a third (29%) said they are driven by passion, highlighting a desire for fulfillment beyond financial gain. Additionally, 20% cite developing a new product or service as a key motivator. This shift suggests a new generation of passionate entrepreneurs aiming to make a positive impact.
Ownership and Flexibility: This trend is particularly driven by Millennials and Gen X, who leverage their experience to invest in themselves and own their future. Interestingly, Gen Z prioritizes additional income (29%) compared to Millennials' focus on new products (25%). Through a gender lens, passion remains key, but flexibility is a significantly stronger motivator for women entrepreneurs (double the rate for men). This reflects how entrepreneurship empowers women to re-enter the workforce on their terms while enriching the business landscape.
Digital transformation efforts are also a key focus, with entrepreneurs prioritizing other goals in addition to customer acquisition, such as improving customer engagement and experience (41%), enhancing operational efficiency (34%), and integrating emerging technologies (34%). GoDaddy offers an easy-to-use integrated suite of online tools, including domain registration, website creation, e-commerce, security protections, email, and digital marketing solutions, to help Egyptian entrepreneurs achieve their digital goals.
4-How is GoDaddy working to bridge the digital divide in the MENA region?
We believe that everyone should have the opportunity to succeed online. Therefore, we are dedicated to supporting entrepreneurs and small business owners on their digital journeys by offering them a user-friendly and affordable suite of tools.
From domain registration and website creation to secure hosting, e-commerce, and online marketing, our services are designed to be a one-stop shop meeting the unique needs of entrepreneurs along their digital journey.
In addition to providing tools by leveraging the power of our global scale, GoDaddy manages over 85 million domain names, a testament to our deep presence in the online market.
Even amidst evolving AI tools, entrepreneurs can take advantage of our free GoDaddy AI Prompt Library to save time and resources while crafting compelling content and streamlining their workflow.
Whether an entrepreneur is starting with naming their brilliant idea or is ready to build a robust website and connect with their audience, GoDaddy has a comprehensive product suite with a variety of plans that cater to their needs.
Also, our expert guides, informative blogs, YouTube videos, and ongoing educational initiatives offer Egyptian entrepreneurs the knowledge and confidence to thrive in the ever-evolving digital landscape.
5-How does GoDaddy's pricing strategy compare to its competitors in the region? And what factors do you consider when setting prices for your services?
At GoDaddy, we understand that price is a significant factor for entrepreneurs and small business owners in the MENA region. We strive to offer a competitive pricing strategy that balances value with the innovative features and exceptional customer support that our customers’ desire.
Here is how we approach our pricing:
- Tiered options: We offer a variety of plans catering to different business needs and budgets. From basic website builders to comprehensive e-commerce solutions, you'll find options that fit your specific requirements with room to grow as the business grows.
- Transparent pricing: We believe in clear and transparent pricing. Our website and customer service representatives can readily explain the different plans and associated costs, allowing you to make informed decisions.
- Promotional offers: We periodically offer promotions and discounts for new customers to help make our services more accessible to entrepreneurs starting their online journey.
Our ultimate goal is to empower entrepreneurs with the tools they need to thrive online. We believe our pricing strategy reflects this commitment, offering a balance between affordability and high-quality features.
6-Can you share any plans for expanding GoDaddy's services in the Middle East and Egypt, particularly in terms of new product offerings or partnerships?
GoDaddy’s strategy continues to be built upon a strong commitment to empowering entrepreneurs and small businesses and nurturing their growth all over the world by offering robust, cost-effective digital tools and services, as well as resources and guidance to help them succeed online, and by collaborating with various stakeholders. This strategy also aligns with Egypt’s broader initiatives aimed at strengthening the entrepreneurial ecosystem within the country.
By working together with local organizations, we can create an environment where small businesses have the support and resources they need to succeed. GoDaddy’s goal is to help entrepreneurs thrive and contribute to the growth and success of businesses in the entrepreneurial landscape.
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