Creating Virtual Opportunities in Business During Lockdown

Quite a number of places had some degree of lockdown imposed on them in the light of the Covid-19 pandemic. This has sorely affected most businesses, big or small. In a previous article, we visited the possibilities of making social media a veritable tool for your business marketing and visibility. This article will discuss important steps to digitise your business.

Working from home has gained popularity over time, however, it has been a slow process. Running a virtual business has numerous benefits, not least of which is that it costs arguably less to run. Despite reservations about the idea from many, it has become a necessity for businesses to explore this mode of running a business as the restrictions to movement lingers. The following are some steps that can be followed in creating a virtual workspace.

Create Online Awareness

This is a very obvious step, so it goes right on top. For the same reason you would expect your physical business to be known around its physical location (unless you run a shady business of course 😉), your virtual business can do with online publicity. Social media remains a primary tool for this. This space gives you visibility and engagements, as has been discussed earlier.

Social media does not do it all, though. Your business needs its own private space, space where all your offerings and information can be seen. You need an up-to-date website that is easy to navigate. Websites do not personalise your business, however. For this reason, it is encouraged to run a blog also. Blogs provide a personal feeling about your business. People are more likely to patronise you if they feel there is a person behind it and not just a “mindless bot”.

Create a Business Plan

You need to identify what your business offers in terms of goods and services – what your business CAN offer. You need also to have a clear vision and set boundaries, create an effective working process, and have realistic targets. This helps you and members of your team to be able to be effective and have the best possible ROI in the shortest possible time.

Let all employees understand how working remotely differs from working in an office environment. Be selective when picking members of your team; not all are well suited for remote assignments and not all tasks can be handled by all members of your team.

Keep the Communication Line Open

This works for both customers and employees. There should be an open channel of communication across the designated hierarchy of your organisation. All members of your team should be comfortable coming up with ideas and putting them to those higher up the ladder. This gives them a feeling of belonging and drastically improves their input as they feel like a part of the system and not a misfit.

Regular meetings should also be set up. This will help to keep tabs on the progress of the team, communicate new plans to all, and maintain a personal relationship. Virtual meetings can be held using various platforms. Popular ones include Zoom, Skype for Business, Slack, Zoho Meeting, and WhatsApp.

Measure Productivity

Your business must first and foremost be productive. So you must have set down metrics to analyse the productivity of your business. Try not to only focus on the final outcome of a particular process. Evaluate various stages of the process. Use quantifiable data to measure how well you are doing. Analyse key performance indicators (KPIs) diligently and be willing to make changes to certain areas that seem to be lagging.

For every observation, you need to be willing to train members of your team to make them improve in that area. Do not stop at measuring the team as a whole, observe individual members of the team and help any such who might be behind to keep up. Make sure to have a rewards system as well as extra motivation.

Be Realistic

It will not be easy getting used to the remote working system for sure. There might be some losses along the way, maybe more. But with proper planning and determination, a virtual workspace will yield dividends. Overall, it’ll pay off!

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Running A Successful Business In A Fluctuating Economy

With the economy fluctuating these days, making a profit from businesses has become considerably harder. This is even more so for small/medium scale businesses that do not have the financial stability to weather the storm. How then can these small businesses not only survive but also thrive? What can the owners do about it? The following tips might be helpful in running a business in a fluctuating economy.

Leverage on existing clients

Existing clients and customers are an important key to surviving a fluctuating economy. They are a means of generating steady income while incurring minimal costs in the process of finding a new customer.

Focus on the existing clients. Tailor your products to their needs. This will give you much more sales opportunities. You might also want to build customer loyalty. Look for cost-effective rewards to endear these customers to your business. Remember, however, that the quality of products/services offered is the major selling point, so focus on improving their quality to retain clients.

Cut down unnecessary costs


In order to stay afloat, it is necessary to be wary about spending on trivial or unwanted items. Be sure to do regular analysis to determine what products sell better and which does not, and then refrain from stocking up on products that do not give any real value of sorts.

Review your inventory management practices. Could there be a way to get your wares at a cheaper rate without reducing the quality? Can you get shipping alternatives that are efficient yet cost-effective? You are under no obligation to stick to the one supplier, be ready to explore other options.

Be different from competitors


However important old clients are, you are always going to need new ones to boost income. Thus, you need to research your competitors. If you are going to stand out in order to gain new clients, you are going to have to do things differently from your competitors.

Find out how they operate and look for ways to better their processes. Identify opportunities to entice prospective customers into becoming your customers.

Focus on core competencies

While it is encouraged to diversify, it will serve you far better to focus your attention on goods/services you excel at. Diversification just for the sake of it is generally a waste of time and resources. It can damage your core business by taking money and time away from what you do best and could possibly ruin your reputation.
Focus your attention on your core competencies. Any diversification should be well-calculated to achieve a particular purpose.

Do more marketing


When trying to cut costs, most businesses first slash marketing costs, at times dropping it altogether. This is the wrong approach. In times of economic fluctuations, consumers are usually restless and are looking for new options to purchase from. This provides a perfect opportunity to put your business in their faces. So don’t stop marketing. If possible, up the ante and do more marketing.

How Likely Are You to Buy from Yourself – Thinking Like The Customer

Marketing your business has evolved over time. Apart from the traditional methods of marketing, one way to get a proper marketing strategy is by getting into the mind of the consumer. Let us do a little exercise to help do this.

Everyone is familiar with role-playing games. Let’s do a little role play now: You are the customer and you want to purchase an item or service from your franchise. Be completely honest, will you be willing to sanction the purchase? There are a few parameters you can use to evaluate this. Ask yourself the following questions:

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  • How easily did I find the product?
  • How does the product compare with other competitors in the market?
  • Is there any benefit from further patronage?
  • How good is the customer service?
  • Does the product keep up with recent technological trends?

 

The idea of this exercise is to make you understand exactly what the thought process of the consumers is. This will give you a basis to work with a  better strategy.

Reverse-Engineer Your Findings To Your Benefit

After going through the process of getting into the consumer’s mindset, you most likely would find areas where improvements or adjustments can be made. You would find that you would be able to understand your customers better. This will help you to be able to tailor your correspondence to them in the future.

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If you can see yourself on the same level as your customers you can better drive customer loyalty and develop the trust that is so important these days and it humanizes your company and enhances your marketing capability. In the end, you will be able to anticipate your customer’s needs because you are thinking just like them. It will put you in the best spot to market with confidence. How likely are you to buy from yourself?

How To Build Efficient Trade Show Follow Up Emails

During a major Exhibition event like TOSSE, optimism and motivation are through the roof. You talk with lots of people, receive valuable feedback and hear promises of future orders.

But as the trade show ends and you return to your office, what happens?

On an average, it takes 5 working days to follow up on potential customers. . In many cases, there is no follow up at all and the business cards end up in a folder somewhere.

Exhibitions are resources consuming hence, it’s important to maximize gains immediately.

Follow up emails must start with instant follow up – the best way to do this to send a “thank you” message. Just after your discussion, send a short email with basic background information, making sure that your potential customers remember you.

Continue with thorough follow up – send in personalized messages that remind them of your business and answer their business questions.

Make follow up emails Stand out – leverage on the conversation you had with your potential customers in the stand, make them know you care.

Record Customer data using the right business tools – this simplifies you email dispatch and helps you understand the chronology of your data. There are various online tools like “myfairtool”.

All this process will succeed in helping you transition efficiently from trade show setting to daily business schedule and activities.

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How to Attract The Media To Your Stand At Trade Shows

The main objective of exhibiting your business at trade shows is capturing leads to acquiring new business and brand awareness. However, attracting the media to your stand is certainly the best way to achieve such objective, but how do you achieve this?

Prepare Media Kit

To get the media to talk about your products, the first thing to do is to provide them with valuable contents. Unless your company is very famous or your news incredibly powerful, journalists won’t spend time searching for information and material to talk about you. You must provide them with everything, make it easy for them.

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What should my Media Kit contain?

A good Media Kit contains the following information:

  • Company introduction
  • Company factsheet (figures, facts, graphs – key elements about your business that make it worth talking about)
  • Company timeline (your historic, major dates and milestones)
  • Major products / services / innovations introduction
  • Bio of the founder / CEO / key employees
  • High-resolution Photos and Logos (a good article always comes with a photo, if you don’t provide it, you risk losing control over your content or losing the article altogether)

The strategy is to always provide something very short to give a quick overview with links to find out, make it easy to grasp your documents within seconds, don’t lose your reader in pages of text.

Build your story

Most companies have no story to tell, hence no PR coverage.

Unless you have some incredible innovation to share or an internationally famous brand, why would people talk about you?

You need to have a story that will captivate your audience.

The story can be about your company and what it stands for or about your CEO or founder on his own journey or unique personality.

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Make use of PR (Press Release)

Write a Press Release announcing that you will be exhibiting at the show. Make it bold. Use your story as the backbone of your release and add some suspense into it. Talk about innovation, announcement, exclusive information, etc.

If your press release is boring, don’t even bother publishing it. It would have no impact and would only waste your time. Write something worth reading that makes people (and media) want to come pay you a visit.

Once written, publish your PR and relay it through your own networks (website, Social Media, blog, newsletter, etc.), send it to journalists within your network and invite your partners to help you spread it.

Prepare Question & Answer Forms

You did everything right and some journalists stop by your booth, well done!

Then what?

They start talking to your staff. Your team members have been trained for capturing leads and educating visitors, but do they have a clue on how to handle media? Most probably not.

You will certainly ask them to direct journalists to you, but what if you’re not here or the journalist has no time to wait?

Prepare a Q&A sheet for internal purpose. This sheet should contain the top 10 questions you expect journalists to ask about your business and the “correct” answers your staff should be giving.

Use this document to standardize your numbers (you don’t want a person to claim a number and another one say something different) and make sure everyone is on the same page. Distribute this Q&A document and tell your team to read it and memorize it carefully

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How to Harness the Power of Social Media at Trade Shows

We may continue to dispute the true power of social media as a professional marketing tool, but there is little doubt that it remains an incredibly effective way of driving your business forward. This applies to all aspects of business promotion, including offline marketing methods such as attending trade shows and exhibitions, as social media can help to drive consumers to your event and create a buzz around your entire brand.

With this in mind, how can you harness the full power of social media to create a memorable and productive trade show? Consider the following: –

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Prepare Thoroughly and Access Social Media Prior to the Event

Preparation is crucial if you are to successfully utilise social media at a trade show, primarily because it enables you to promote your event and create interest around your brand. By sharing updates and information through an integrated online profile including sites such as Facebook, Twitter and Pinterest, you can alert your audience well advance of the exhibition in question. When using Twitter, you should also remember to include your official brand name a unique hashtag for the event in every communication.

Focus on the Quality rather than Quantity of your Posts

During the show, it is often tempting to subject your followers to a barrage of updates and tweets. This can easily disorientate the customer, however, while also increasing the risk of issuing bland content that is poorly structured or grammatically incorrect. To avoid this, you should focus on creating quality updates rather than producing them in high volume, using creative and engaging content that seeks to drive traffic at specific times of the day.

Post Pictures and Videos While Embracing Multimedia Resources

If you have invested heavily in creative banners and colourful display panels for your trade show, it is crucial to utilise these through audio-visual media and images. These eye-catching design elements can be extremely effective in enticing potential customers, especially if they are shared in real-time through a number of visual social media sites. By sharing this media across high traffic sites such as Pinterest and YouTube, it is possible to narrate a theme throughout the day and enable your customers to share in an interactive trade show experience.

With this in mind, the content of your videos and imagery is also important, so be sure to capture different elements of the day to convey a genuine experience to customers.

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Generic Brand Communication in Today’s Global Market

Just as all human beings have names that represent their unique identity in society, similarly companies give unique brand names for their products to facilitate their distinction from the competitor’s brands.

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Branding and marketing communication today have created a massive product globalization and glocalization. A large number of generic brand’s product are available, but not all brands are liked by consumers as choice is highly influenced by the product but also the manufacturer.

Brand identity is essential in competition because without it there is no way of making a choice. The selection of a brand name is considered an art form because it is born out of the creative interpretation of research. The following should be considered before settling for a brand name:

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  • Easy to pronounce
  • Product benefits  
  • Registered trade mark.

Effective generic consumer engagement involves effective packaging which when effectively done proffer a high return on investment in terms of sales volumes. Innovative packaging helps increase consumer patronage and consumer scope. These are all important aspects of brand communication and packaging as a whole


The value of a brand rises and falls
with its communication

4 Core Principles of Customer Relations That Fuel Business Growth

Companies in all industries and all of sizes understand that customers are perhaps their most valuable asset. Improving the overall customer experience is vital for continued success and survival of their business.

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Customer relation is a way business relates to its customers, clients and patrons. Some business organizations hire people specifically to manage how the company interacts and communicates with people. The goal is to retain existing customers and to gain new ones by providing the best customer relations and clients’ services.

There are some core principles to relationship management that any company can and should follow:

Communication: Listening is just as important as telling. Think about how often you actually speak with your customers. Focus on less financial-driven communication (whether it’s E-mail, phone or face-to-face interaction) if you make your customers feel involved, they feel as though they actually have a stake in your company, and feel like you care about more than just trying to make sales.

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Rewards: Every company should initiate and make provision for reward programs. It is a very simple form of saying “Thank you” and particularly it is a viable and measurable marketing tool that big companies and small businesses can use to retain their customers and grow their business.

Be flexible: Be quick and attentive to customer’s complaints: The objective of customer relation is typically to interact with the customers in order to answer questions, resolve support issues, establish credibility and nurture relationships.

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Here are strategies that Improve Customers Relations and building customer’s loyalty, from simply opening up communications channels to implementing elaborate point systems that reward loyalty enhanced customer communications.

Be prepared to meet and interact with lot of customers at TOSSE 2019.

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  • Providing customer feedback forms
  • Asking about customer needs in general when customer calls with problems
  • Training call-center staff to handle disputes
  • Encouraging a service culture throughout the organization.