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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Mar 03

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.

May 30

5 Steps to attract more customers to your exhibitions booth

It is said that to be outstanding, one must do things differently. This is a trait in any business/organization that is currently dominating the market, especially when it comes to exhibitions.

Perhaps, your business or organization has been exhibiting at events and have not seen the desired results on your investment there. Then it is time for a change.

As organisers of the biggest trade show in Africa with over 7000 attendees, we have listed 5 steps to help your business/organization attract more potential customers to your booth at exhibitions.

If you want to get a good return on your investment, then you must be able to separate yourself from the crowd of other exhibitors at the event by attracting the majority of the traffic to your booth. Below are the steps to help you achieve that.

Steps to help you attract customers to your exhibition booth

Create a buzz factor: One feedback every marketing executive would like to hear from customers at exhibitions is that they saw their stand and patronized them at the event. One way to maximize this is to create a social media buzz even before the exhibition day. Use your social media pages to tell your audience that you will be part of a particular exhibition and begin to warm your prospects up by showing them irresistible offers and packages you have prepared for them at the exhibitions. This way, you have aroused their interest, and they will be on the lookout for your exhibition booth at the event.
Use mini-influencers: You may wonder what this means? This is basically getting your best customers or people around you with a strong following both online and offline to promote your presence at the exhibition. Remember, this is a 5-step list and they are to be followed semantically. You will be getting a customer or good friend to post something like this: “(name of product/service) has helped me develop myself in so many ways. They will be at (exhibition name), make sure you check out their stand at the exhibition”. Remember, nothing travels faster than word of mouth whether online or offline. With these testimonials, you are beginning to build the interest in your booth.
Pre-event Follow-up: Before a tradeshow starts, usually, there would be a buzz weeks before and depending on the magnitude of the exhibition, people may have been posting their attendance confirmations online or offline, and this is another goldmine where you can trap leads from. One easy way to do that is to simply follow the hashtag on social media e.g #TOSSE2022, and see all the posts of people who have signaled their interest, and begin to filter them to see those that fit your customer description. Then send them personal invites and materials to educate them about your products to show that you want to see them in your booth at the exhibition.
Get inbound traffic: Note that we are talking about doing things differently to attract potential customers to your booth. One of the traditional things done at exhibitions is that exhibitors get one of their staff to distribute their flyers or brochures to the attendees. This still works, but there is something better, which is using challenges, contests, giveaways, mystery games and other ideas that naturally calls people attention. People love freebies, and these kinds of things, hence increasing the amount of leads you are getting into your booth and that also increases your chances of converting them while they are inside.
Post-event Follow-up: Remember, you are trying to get them to make a decision and it may not necessarily be at the exhibition, so you must follow them all through the decision making process. Get their social media handles and thoroughly check up on them to see how your products and services can help them, lookout for their needs, celebrate them on their special days and build a relationship afterwards, and you will have some become lifetime customers of your business/organization.

These are 5 steps which when followed will bring a vast amount of traffic who are potential leads that can become your customers. It may sound like a lot of work, but if you want to make sales and achieve your goals as an exhibitor, you must be ready to do this.

Don’t forget to also check out our article on how to improve your Brand presence at exhibitions.

May 01

WOWBii Partners with Edumark for Africa’s Biggest Education Show – TOSSE2023

WOWBii, a leading manufacturer of interactive boards and computer hardware has pledged its support for the Total School Support Seminar/Exhibition (TOSSE) 2023.

TOSSE is an annual event that brings together educators, school owners, and stakeholders in the education sector to discuss issues and innovations in education. The event provides a platform for networking, learning, and sharing best practices in teaching, school management and tutors’ development.

As a company that is passionate about improving education through technology, it is exciting to have WOWBii as part of this year’s TOSSE. We believe that technology has the power to transform education and make learning more engaging and interactive.

At the exhibition, WOWBii will showcase its latest range of interactive boards and computer hardware. They will also provide demonstrations and training on how to use products to enhance teaching and learning.

In addition, the Founder & GCEO, Equipment Hall/WOWBii Interactive, Mr Gbolahan Olayomi, will be speaking on “Technology in Education: Trends and Innovations.” The paper will focus on the education sector and technology industry and will discuss the latest trends and innovations in using technology to enhance education.

“We are thrilled to be a part of TOSSE 2023 and to have the opportunity to showcase our products and share our expertise with educators and stakeholders in the education sector,” said Mr Gbolahan Olayomi of WOWBii. “We believe that technology can help unlock the potential of every student, and we look forward to demonstrating how our products can make a difference in the classroom.”

Wowbii is at the heart of building Nigeria’s human resource of the future; with the BUDDZoneTM Education concept completing the transformation experience in 21st Century Learning spaces. The WOWBii products are designed to be interactive and impactful for users. Educators and educational institutions can explore their products; the Wowbudd and The WOW School.

TOSSE 2023 will take place at the Sheraton Hotel. on the 8th of June and Ten Degrees Event Centre, Oregun, Ikeja on the 31st of August. We invite everyone to visit the WOWBii booth at the exhibition and attend the seminar on “Technology in Education: Trends and Innovations.”

For more information about WOWBii products and services, please visit their website at www.wowbii.com or 9b Adebayo Munis Close, Gbagada Phase 2, Lagos.

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