5 Proven Methods on How to Grow Your Business in Nigeria
Did you know Nigeria is home to over 41 million small and medium-sized enterprises (SMEs), yet only a fraction achieve significant growth?
You’re in the right place if you want to stand out and thrive in this competitive market.
Let’s give you these 5 proven methods to grow your business in Nigeria that have helped countless businesses in Nigeria grow too.
According to the National Bureau of Statistics, SMEs in Nigeria contribute nearly 48% to the national GDP and account for 96% of businesses.
However, many struggle to scale up and maximise their potential.
If you are ready to scale up and maximise your potential, you need to spare a few minutes to learn the proven methods that have helped countless businesses in Nigeria achieve remarkable growth.
Hence, we will discuss the proven methods to grow your business in Nigeria and the growth strategies we have in place to help your business maximise its potential even in a competitive market.
5 Proven Methods on How to Grow Your Business in Nigeria
Gone are those days when promoting your business is through archaic means alone (radio and television)
You should count yourself lucky to be a business owner or your business is still existing in this modern time when growing your business is as easy as starting the business itself.
The good thing about this is you don’t necessarily have to lift a finger to achieve the result you want.
So, here, we will show you the 5 proven methods on how to grow your business in Nigeria and how to easily go about it.
1. Leverage Digital Marketing
Don’t be an outdated business owner, having an online presence is no longer optional.
It is now more than important for businesses to have a strong online presence to reach a wider audience and increase their visibility.
Digital marketing is a powerful tool that can help you achieve this.
Using social media platforms such as Facebook, Instagram, TikTok and LinkedIn is a great way to connect with your audience and build your brand.
When you continuously create engaging content and interact with your followers, you can build a loyal community around your brand which in no doubt will bring growth to your business.
Another thing you should be mindful of is Search Engine Optimization (SEO) and content marketing.
They are also important components of digital marketing.
You need to optimize your website for search engines and create high-quality, relevant content to improve your search engine rankings and drive more traffic to your website.
One example of a Nigerian business that succeeded with digital marketing is Jumia, an online marketplace.
Jumia ensured their website was user-friendly, fast, and optimized for relevant keywords, which made it easy for customers to find them on search engines like Google.
It also created informative blog posts, product reviews, and buying guides that addressed the needs of its target audience, to establish itself as an authority in the e-commerce space.
It didn’t stop there, Jumia also leveraged social media platforms like Facebook, Instagram, and Twitter to engage with customers, promote products, and build a community.
It also used targeted online ads, such as Google Ads and Facebook Ads, to reach potential customers and drive traffic to its website.
Using SEO and content marketing, Jumia has become one of the leading e-commerce platforms in Nigeria.
Looking for a team to handle all your marketing needs? Send us a message on WhatsApp(+2348063469469) to know how we can help your business generate traffic and leads and increase it revenue.
2. Build a Strong Brand Identity
Another of the proven methods on how to grow your business in Nigeria is to build a strong brand identity.
First of all, you need to understand that branding is important for any business looking to grow.
A strong brand identity can help you differentiate yourself from your competitors and build a loyal customer base.
When you constantly create a compelling brand story, you are on your way to connecting with your audience and building a strong brand identity.
However, your brand story should be unique, authentic, and memorable.
It should also reflect your values and mission.
One important aspect of brand identity is Visual identity.
Your logo, colour scheme, and consistent design can help you create a cohesive and recognizable brand.
An example of a well-branded Nigerian business is GTBank.
With its distinctive Orange colour scheme, GTBank has established a strong and recognizable brand identity.
The bank’s operation style, staff conduct, and service delivery models are built on eight core principles known as “The Orange Rules,” which reflect the bank’s orange corporate colour.
These principles include simplicity, professionalism, service, friendliness, excellence, trustworthiness, social responsibility, and innovation.
You too should do some innovation for your business to stand out.
3. Network and Collaborate
As the saying goes “Your network is your net worth”
Networking is an influential tool in the Nigerian business environment.
One of the ways to grow your business is to attend industry events, seminars, and workshops
That way, you can connect with other business owners, potential partners, and investors.
Also, you should consider collaborating with other businesses for mutual growth to expand your reach and tap into new markets.
Doing this will help you pool resources, share knowledge, and create mutually beneficial partnerships.
A great example of business collaboration in Nigeria is the partnership between MTN Nigeria and Diamond Bank.
In 2018, they both launched a mobile financial service called “MTN Mobile Money” to enable customers to perform financial transactions like money transfers, airtime purchases, and bill payments directly from their mobile phones.
Look around for businesses you can collaborate with and bring growth to your business. It’s a win-win thing.
4. Focus on Customer Service
One of the proven methods on how to grow your business in Nigeria you should take note of is your customer service.
Poor customer service can kill your business.
Excellent customer service helps any business looking to grow.
An exceptional customer service can help you retain customers, attract new ones, and build a loyal customer base.
The best way to do this is to train your staff, provide multiple channels of communication, and actively seek feedback from your customers.
One example of a Nigerian business known for outstanding customer service is Guaranty Trust Bank (GTBank)
GTBank is well known for its exceptional customer service, which has earned it numerous awards and recognition.
They offer round-the-clock customer support through various channels, including phone, email, and social media.
Their staff are also known for their warm and helpful approach, making customers feel valued and understood.
GTBank also offers personalized services, such as dedicated relationship managers, to cater to individual customers’ needs.
With this, GTBank has earned numerous awards, including the “Best Bank in Nigeria” by Euromoney Magazine and “Best Customer Service Bank in Nigeria” by the Nigerian Customer Service Awards.
5. Invest in Technology
Having said all of those, you shouldn’t ignore the place of technology.
The truth is, technology has come to stay and it’s now playing a vital role in business growth.
You can improve your efficiency, productivity, and competitiveness when you use the latest tools and software relating to your business.
E-commerce and mobile apps are also great ways to expand your reach and tap into new markets, attract more customers and grow your business.
One success story of a Nigerian business that leveraged technology for growth is Jumia.
Jumia Nigeria has successfully taken advantage of technology to drive growth and transform the online shopping experience in Nigeria.
It launched a user-friendly online platform that allows customers to browse and purchase products easily.
Jumia also developed a mobile app, enabling customers to shop on the go.
In addition, it introduced digital payment options, such as Jumia Pay, to help ensure convenient transactions among many other things.
This way, it became the largest e-commerce platform in Nigeria, expanded its customer base across the country as well as increased sales and revenue
So now that you know what you should do you grow your business in Nigeria, what’s stopping you from doing it?
Time?
Or you don’t know where to start from?
Let that not bother you, agencies exist to help you manage your time the same way they want to help you grow your business.
As a business owner, if you value your time, effort, and every dime you want to spend on your business growth, you should consider working with UGC Deck.
How UGC Deck Is Helping Business and Entrepreneurs
At UGC Deck, we understand the challenges that businesses and entrepreneurs face in growing their businesses.
That’s why we offer different services designed to help you implement the growth strategies discussed in this article.
From digital marketing to branding, networking, customer service, and technology, we can help you every step of the way.
We pride ourselves on providing high-quality, relevant content that meets the needs of our clients.
More so, we understand that branding is an ongoing process that requires a consistent and cohesive approach.
That’s why we offer services designed to help businesses build a strong brand identity and establish a loyal customer base.
UGC Deck, helps you leverage the power of video content, social media, and content creation in building a strong brand identity. That’s why we offer services tailored to help your businesses leverage these tools for your branding efforts.
– Video Editing
Our team of expert video editors can help you develop a video strategy that aligns with your brand and marketing goals.
We can also help you optimize your videos for search engines and social media platforms to ensure they reach the right audience.
– Social Media Management
We can help you create a social media strategy that aligns with your brand and marketing goals.
We can also help you identify the right social media platforms for your business, and create a content calendar that engages your audience and drives traffic to your website.
– Content Creation
In addition, our expert team can help you create a content strategy that goes well with your brand and marketing goals.
We can also help you optimize your content for search engines and social media platforms to ensure it reaches the right audience.
– Digital Marketing
We offer various digital marketing services, including SEO, content marketing and social media marketing.
We can help you create a customized digital marketing strategy that meets your unique needs and goals.
Whether you’re looking to increase your online visibility, drive traffic to your website, or generate leads, we can help.
– Branding
Our branding services include creating a compelling brand story, developing a visual identity, and establishing a strong brand identity.
We can help you create a brand that resonates with your target audience, differentiates you from your competitors, and builds a loyal customer base.
– Technology
Last but not least, our technology services include website development, e-commerce solutions, and mobile app development.
We will help you identify the latest tools and software to improve your efficiency, productivity, and competitiveness.
If you are looking for the best hands to handle your business growth, leave it to us.
This is because we pride ourselves on providing tailored services that meet the unique needs of each business we work with.
We take the time to understand your goals, challenges, and target audience, and create a customized strategy that delivers results.
If you’re interested in learning more about how we can help you implement the growth strategies outlined in the article, you can reach out to us for consultation via email at hey@ugcdeck.co.
You can also click get started to connect with us or give us a call at +2348063469469.
We’ll be happy to answer any questions you have and provide you with a customized plan of action.
At UGC Deck, we are committed to helping businesses and entrepreneurs succeed.
Let us help you take your business to the next level.
Rofiah is a marketing writer with over 2 years of experience creating content for Dozens of industries including tech, home services, education and professional services.