A review of digital advertising performance on conversion rates: A case study of an online marketplace in Lagos, Nigeria
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Background of the study
Digital advertising has become a cornerstone for driving conversion rates in online marketplaces. In Lagos, Nigeria, online marketplaces are increasingly investing in diverse digital advertising channels—such as social media ads, search engine marketing, and display advertising—to attract and convert customers. This case study examines how different aspects of digital advertising performance, including ad relevance, targeting accuracy, and creative execution, impact conversion rates (Okeke, 2023). Recent studies suggest that when digital advertising is optimized through continuous testing and data analysis, online marketplaces can significantly improve their conversion rates, leading to enhanced customer acquisition and revenue growth (Adenuga, 2024). Despite these advantages, there remains a need to review and consolidate best practices across various digital channels, particularly in dynamic markets such as Lagos. The study analyzes key performance indicators and conversion metrics to determine which advertising strategies are most effective. By exploring both successful campaigns and common pitfalls, the research provides insights into how online marketplaces can refine their digital advertising efforts for maximum impact (Balogun, 2025).
Statement of the problem
Online marketplaces in Lagos face challenges in optimizing digital advertising to achieve consistently high conversion rates. Although significant investments are made in digital ads, issues such as irrelevant targeting, ad fatigue, and poorly optimized creative content often lead to suboptimal conversion outcomes (Chinwe, 2023). The dynamic nature of digital consumer behavior further complicates the ability to maintain high conversion rates, making it difficult to measure the effectiveness of various advertising channels accurately. The lack of consolidated evidence on best practices for digital advertising performance hinders the development of effective strategies to enhance conversion rates. This study seeks to address these challenges by reviewing digital advertising performance and its impact on conversion rates, thereby providing actionable insights for online marketplaces to optimize their advertising strategies (Ibrahim, 2024).
Objectives of the Study:
To review the impact of digital advertising on conversion rates.
To identify key performance indicators that drive higher conversion rates.
To propose best practices for optimizing digital advertising in online marketplaces.
Research Questions:
How does digital advertising performance influence conversion rates in online marketplaces?
What are the critical performance indicators that correlate with higher conversion rates?
Which digital advertising strategies are most effective in driving conversions?
Significance of the study:
This study is significant as it reviews digital advertising performance and its impact on conversion rates, providing online marketplaces with actionable recommendations to optimize their ad strategies, enhance customer acquisition, and boost revenue.
Scope and Limitations of the Study:
This study is limited to examining digital advertising performance and its effect on conversion rates for an online marketplace in Lagos. It does not extend to other advertising methods or industries, and findings are specific to the local digital market.
Definitions of Terms:
Digital Advertising: The practice of delivering promotional content through digital channels.
Conversion Rates: The percentage of website visitors who complete a desired action.
Online Marketplace: A digital platform where goods and services are bought and sold.
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