Business experts have tasked entrepreneurs to imbibe digital marketing strategies to grow their businesses while growing profits.
The experts, who spoke at the startup training organised by the Franco Nigerian Chamber of Commerce and Industry (FNCCI) in partnership with Zenith Bank PLC in Lagos, said startups need to leverage digital marketing tools to promote their businesses and create value for customers.
Speaking at the event, Manager, Tax Managed Services, KPMG, Ufoma Edward-Ating, said implementing an online marketing strategy was another major issue faced by new businesses due to lack of expertise.
Edward-Ating said marketing helps to build a sustainable company while increasing revenue.
She said startups need to create engaging content to generate leads for customers while using lead tracking software to measure digital marketing campaign results.
According to her, startups need to invest in cost-effective marketing strategies such as social media, influencer and video marketing for the growth of their businesses.
She said startups need to keep tabs on industry trends and rivals, adopt marketing strategies, collect customer feedback and continually improve to scale.
She advised startups to develop buyer personas to tailor their marketing strategies and resonate with ideal customers, while outsourcing marketing tasks to freelancers or agencies and investing in training to stay updated.
Global Chief Executive Officer, ProconnectPAY, EldaDavid Samuel, said startups need to invest in five low-cost, high-impact marketing strategies to promote and develop their businesses.
Samuel, who is also the Coordinator and Head of Operations, Nirmala Chellarams Centre for Entrepreneurship Skills, University of Lagos, advised startups to master social media marketing, harness the power of content marketing and build strong communities.
Director General, FNCCI, Moses Umoru, said supporting startups forms a way of growth for the economy, stating that the chamber registered over 100 startups to help them scale.
He charged the startups to leverage on the chamber’s business directory and work with multinational organizations already in the business space.
He said startups need to identify their marketing gaps and fill the gaps with skills provided by the chamber for their businesses.
He said the chamber organized the training for startups to help them find their niche in this challenging economic period and to help them increase revenue despite the economic headwinds.
