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5 Ways Businesses Loose Millions Of Naira Without Knowing. - Business - Nairaland

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5 Ways Businesses Loose Millions Of Naira Without Knowing. by Presh007(m): 1:59pm On Oct 08, 2018
These are very common mistakes made by not only individual business man or lady but also all the way up to the countryside top businesses or companies.
Always keep it in mind that you are always loosing money if you are not always looking for new improvements for your business. With that said I will jump right into the most important improvements that I have discovered to close the major money leaks.

1. Branding Funnel: This is a vital area that determines your market reach and coverage and also the expansive power of your potential customer base. As we all know, we are all impressed by a branded company and some of us do not buy from businesses without a strong brand. You see when a business collects a very low fee, we associate it with the "promo" label, but when an unbranded business sells their services or products very low it is perceived as either inferior, fake or even worse fraudulent. Branding is known as the image representation of business value system and structure otherwise known as business packaging. This where you need a good graphic designer who will help you to arrange your business image design so you can reach more customers. This includes your logo, business card, advertisement flyers, digital flyers, letter head, etc.

2. Web Presence: This is the major money leak for most businesses who are running without a website that allows the customers access their products or services even by just searching Google. It's simple why you should own a website: easy access to everything about your business in one place. If given hours you can't talk about all your services and nobody has hours to listen to you and you also need to maximize time so having a website will help you pass across all your business messages to your customers. This also increases the rating of your business and hereby, creating trust between you and your customers. Get a web designer and developer to make your business messages into a website that inspire trust and value in customers.

3 Social Presence: The world is a global community with our interactions with other people and businesses unknown to us being mostly through the social networks. With the growing popularity of even purchasing through social media most brands are loosing serious cash by not being on the internet rave of social platforms. Get a social media manager who will help you to explore this goldmine.

4. Lead Generation: This is a combination of number 2 & 3. When you have a website you look to advertise and one of your best bet is through social media advertisements, it's easy for business to assume that they know what they are doing and waste thousands if not millions of naira targeting everything without goals and surprisingly some achieve profit but end failing as they did not know how to use the data to grow their business. Get an advert targeting expert for your campaigns so that you can track how much you are spending to acquire one customer. This will help you to have an accurate growth rate in your business projections.

5. Customer Relations Management: This is missing link in why two businesses can be side by side offering similar services and yet one is always busy and the other almost empty. This is also the reason why businesses have high customer loyalty and others do not.
You can grow the amount of customer you have and gain business fame from the right usage of your customer information. Most businesses fail to record their customer data, offer loyalty programs or even send seasonal messages and expect repurchases or customer recommendations. Get a web developer and let them know what you want to do with your customers in the bid to keep them happy and proud of your business and let he/she create your customer relation software.

Your business can stop leaking money today if you can start to implement these things in them. You can also hire us to help you cover all of this gaps at a promo price between 1st October and 31st November. Send an email with title "ICT EMPOWERMENT PROGRAM" daviddatitan@gmail.com and call us at +2347033129732.
If you have any business questions ask them and you will get a response as soon as possible.
Re: 5 Ways Businesses Loose Millions Of Naira Without Knowing. by davidtitan(m): 2:06pm On Oct 08, 2018
Informative I would like to partner with you guys, my number is 08164138495

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