In the last decade, we have witnessed a vast pool of small startups that become power blocks within their respective industries. Be it Business – to -Customers (B2C) or Business-to-Business (B2B) startups the growth has been quite laudable.
According to Price Walter and Cooper (PWC) Nigeria, SMEs contribute 48% of the national GDP, account for 96% of businesses, and 84% of employment in Nigeria. It is therefore important that the driving engine of SME growth is reviewed in this blog.
In view of the effect of covid – 19 and ever erratic price of crude oil price in the international market the Nigerian Government was constrained to expand its sources of income and it was not a surprise when the ease of doing business was reviewed to help the new SMEs.
Due to the government’s push for ‘Make in Nigeria’, we have many new SMEs coming up with the skills to produce specialized goods and services. Usually, these SMEs, come with an expanse of technical knowledge but most have the constraints of a low marketing budget. This results in a low competitive advantage for these startups in this very competitive Nigeria space. This is even made worse with the need to stand up in competition with some imported brands and service providers. It is therefore pertinent for SMEs to device a sustainable digital makeover and effective marketing strategy to remain in the Nigerian crowded customer space.. Digital transformation and marketing would be the best route for branding with low investment. Find below some fundamentals for SMEs to go digital.
Create a company website
The Creation of your company website with information about your business, its specialization, and its goods or services should be the first point of call, and it can be done without the need to break your bank. This will serve as your point of contact and provide the avenue for you to display your expertise through your Professional presentation on your homepage.
B2B portals and Business Listing
Listing your products on e-commerce Business to Business (B2B) portals could be budget-friendly and offer better online visibility for the brand. These portals already have a good online presence and reputation with a broad base of visitors from around the country.SMEs can take advantage of these portals by listing their products or services here to grow their business. Most popular listing sites are free while some do charge a few thousand for unlimited listing, The choice of listing site or B2B portal lies in the target market for goods or services. The prominent of these in Nigeria and google my business listing where you can get listed and interested clients can get your business details and even locate you on map.
You may also pay some few thousands to get listed on Nigeria business list
Google search engine
The task of getting an online presence starts with having effective branding which can be achieved with a good website and business listing. When it comes to online business, the first mode of acquiring customers is through the Google search engine. The target of most businesses is to get showcased in the top 5 results of Google search. To get your business in the top 5, you need to work on the Search Engine Optimization (SEO) of your created website. This can be done by adding unique and relevant content to your website, images with alt-text, link building, and other SEO related activities. This can also be achieved using Google My Business which is easy and free. This helps in creating a brand impression for the online audience.
Social media
Social media Business pages from Facebook, Twitter, LinkedIn and Instagram are found to be effective business tools for online presence boosting and capable of improving business reputation if used appropriately. These multiple channels prefer effective ways of interacting with customers on social media at basically zero costs. These channels provide you the avenue to showcase your products or services. Social media platforms are growing in terms of patronage and can effectively be used to interact with many customers without the need to visit physically.
WhatsApp is one of the widely used communication applications which is accessible in almost all countries around the world. Businesses leverage on several of their business features to interact with customers across continents, It has been found to be one of the most effective business tool due to its diverse human demography footprint of acceptability; both the educated and non educated use it.It is better used to develop relationships and convert leads to orders. It is also a good way to create a followership on product or services or promote your offers to customers.
