As an entrepreneur in Nigeria, an effective marketing strategy is instrumental to the success of your business. As you know, entrepreneurship has taken its roots in the country. There are tons of products and creative solutions for young people today. You are not only competing with the big boys but other developing brands like yours.
As a result of this, you need an edge over others to stand out. An effective marketing strategy could give you this edge. However, before we get to the deep stuff, let’s understand the concept of marketing itself shall we?
What is Marketing?
Marketing simply refers to what entrepreneurs do to promote their products. It includes advertising and selling. It also includes delivering products to consumers or other businesses. Think of it like a fuel that sustains the business, and there are effective ways to it
What is a Marketing strategy?
A marketing strategy is how an entrepreneur plans to get customers to use their product or services. Marketing strategies allow an entrepreneur to maximize limited resources. It also helps them to gain a competitive advantage in the marketplace.
It does sound easy peasy right?
Now that you know what is, let’s dive into the types of effective marketing strategies for entrepreneurs in Nigeria.
Effective Marketing Strategy for Entrepreneurs in Nigeria
Branding is used to promote products by advertising with a distinctive design or symbol. It is the process of giving meaning to an organization, company, or product. Branding makes a product distinct from other products. It is an effective marketing strategy because it makes your product stand out. Your target customers are able to identify what your product looks like. In essence, it showcases the true representation of who you are and what your product stands for.
Affiliate marketing is another effective marketing strategy for entrepreneurs in Nigeria. It is a performance-based arrangement. In this arrangement, an online retailer pays a commission to an external website for traffic or sales. These sales are generated through its referrals. Affiliate marketing allows business owners to market a product with a low budget, effort, and time. It has a contained risk level and guarantees a high return on investment. This strategy allows business owners to target a specific market. They get to select the perfect set of representatives that suits the brand.
It is a form of marketing that focuses on content creation, publication, and distribution. This could be a very effective marketing strategy if done well. Successful entrepreneurs in Nigeria use this to attract attention and generate leads. It is also effective for expanding your customer base. Finally, good content is useful for generating and increasing online sales. It is the perfect way to promote your brand as an entrepreneur in Nigeria.
The use of social media is always an effective marketing strategy for entrepreneurs. Especially, if you consider the population of people that use them daily. It helps business owners/entrepreneurs to reach a large audience and engage with existing customers. In essence, it allows business owners to promote their brand’s culture. The world is fast becoming a global village, so why not?
Defining a Target Market
It is important to define your target market as an entrepreneur in Nigeria. Doing this helps you save time and resources. It helps entrepreneurs focus on a specific audience. That is people that are more likely to patronize the business. As a result of this, the products are fine-tuned optimally to the taste of the target audience.
Partnerships are another pivotal marketing strategy for entrepreneurs in Nigeria. It is a strategic collaboration between two or more firms. The collaboration helps each firm reach its targeted business goals. Partnerships help entrepreneurs in Nigeria build strong business-based connections. This helps product promotion and reach.
Listening to your Customers
As an entrepreneur in Nigeria, it is beneficial to you if you listen to your customers. This marketing strategy helps businesses to improve their products and services. It is one sure way to stay ahead of the game, just try it!
Accountability is a huge asset to entrepreneurs and an effective marketing strategy. It keeps you aware of the progress or lapses. It gives you insight into what is working and what is not. One way of measuring growth is in terms of sales, goals, and audiences reached. Try this and see how much it helps you plan ahead.
Search Engine Optimization
This is an effective marketing strategy for a business that needs visibility. It involves the use of search terms pertaining to your niche and product. This helps potential customers to navigate toward your business page.
Influencer marketing has proven to work wonders in branding and lead generation. As an entrepreneur in Nigeria, you could leverage the authority or fame of certain individuals. This works even better on social media platforms. To save yourself money, micro-influencers are also viable options. Depending on how you play it, it could be your most effective marketing strategy. It is data and research-driven and it has a great return on investment.
This marketing strategy is often classified under social media marketing. However, the nuances of promotional emails are a tad different. Email marketing is very effective for B2Bs, especially for lead generation. To create emails that work, you need to understand copywriting, and search engine optimization. If your business provides services – especially to corporate firms – you should give this a try.
Quick Wrap up
This list of marketing strategies is not exhaustive. Other marketing strategies include traditional billboard advertisement, referral marketing, and so on. As an entrepreneur in Nigeria, you could implement any of them, and it would be equally effective. The bottom line is to leverage data. It helps you to monitor progress and determine what works best for your business.
Finally, you need all the visibility you can get for your products. If you are looking to give your business a head start, you could promote it here on insight ng. It is the perfect nitro boost for a business, regardless of the niche.
Also, you can join our Whatsapp Community to discuss your business with like minds. With that, we wish you good luck in your business endeavors.
- Ebunoluwa Owoniyi is a student studying microbiology, a prospective graphics and fashion designer, she loves to write to enrich human knowledge.
- Business Insights2022.09.28Effects of Online Food Retailing in Nigeria
- Business Insights2022.05.25New Vs Existing Customers: Easiest Ways to Scale Your Business
- Career2022.05.014 Primary Differences Between a Job and a Career
- Business Insights2022.04.20How to use WhatsApp Marketing for Your Small Business