SEC-S20W5 | My Business Ideas | Advanced Marketing Strategies
Every entrepreneur desires to grow his business to its peak, but growing a business doesn't just happen. It takes effort, not just effort, but exerting professional efforts in business to make it grow, and effective marketing planning is the key to opening growth in business. Always satisfied customers is a growing or flourishing business. For this reason, I am participating in this SEC20 week 5 hosted by @dove11 and @aviral123.
Section-1 Are you innovative? Innovative entrepreneurs regularly add new products according to the needs of their customers and find new markets.
An innovative entrepreneur is an effective and powerful thinker who thinks beyond the box. He looks at the ideas in the market and what competitors are providing, carefully checks for areas they are lacking, and then implements the existing ideas but adds a lacking part to them, which makes his services or products unique.
An innovative entrepreneur perceives new ideas in the market by constantly looking for the needs of his customers, which are yet to be provided, and he provides these needs.
Finally, I would like to say that an innovative entrepreneur keeps updating his business ideas by rebranding his business to suit the current market
Yes, I am innovative. I think positively about my customers and potential customers. I ask myself the services and products my customers would want. I am always conscious of my competitors by looking at what they provide, the uniqueness of their services and products, and what they lack, and then copy them and add what they lack to my services and products. Finally, I always try my best to come up with new ideas. I am practical in question two, please look out.
Section-2 Are you adopting or imitating other business ideas? Businesses in this category try to add their strategies to the existing market trends and implement them successfully.
I adopted other business Ideas, but I look for new ideas in the market, and I always ask myself; what do my customers and potential customers need, and what are my competitors providing? I will give you two examples of how I recently added my strategies to the existing market trends in my two businesses.
(1) In the Transportation business: I am affiliated with a Local Government transportation company, and transporters who are affiliated with a Local Government transportation company in my area are careless about their cars, do not purchase modernized cars, and don't keep their
cars clean either. They feel when travelers pay for their tickets, they have no option but to board any car they see. Therefore I asked myself, what would make me stand out different from others?
- I worked my car, making it look appealing to the eyes. I made sure my car was sound.
- I put some pleasant fragrance in my car
- Most importantly, I give my customers discounts. What makes this innovative mindset special is that the Local Government transportation company has a stipulated amount of fare to different places, and every driver wants to charge their customers that amount, but I give discounts, and I don't stick to the stipulated amount.
The above makes me stand out in the business, and I can tell you that I have clients who contact me directly.
(2) In the palm oil processing business: The business is full of competitors because it's a kind of a local business here with plenty of local processors. But they are complacent with producing just the local red oil. Recently, the Idea of adding a new product came to my mind, that of processing oil from the palm kernel. Instead of following the local trend of processing only the oil from the palm fruits and selling the kernel, I process oil from the palm kernel, and this is more like a new product. People like this new product not just for cooking, but as body oil.
| The traditional palm oil | My refined palm kernel oil |
|---|
Section-3 Do you have in-depth knowledge of your target customers and offer them something of value? More importantly, do you offer your services at the right time, in the right places, and in the right way to grow your business?
Yes, I have the in-depth knowledge of my clients. My transportation business moves in the morning when people are leaving for work and businesses, and in the evening when they are returning. I leave for my business very early in the morning and return at night. I always avail myself for my customers, providing services anytime I am called upon. I also noticed that some would prefer to be picked up from their houses instead of coming to the local motor park, and I always provide this kind of service. Some would like to transport their goods (courier service), and I would help them deliver to the receiver in time without failure and disappointment.
My customers in my palm oil business are mostly from outside my state of origin. And since we have many processors, palm oil is much in the market. How am I going to make sales? Having thought about the question, I studied the market and realized there are some months in the year that we don't have much palm oil in the market because palm trees don't bear much fruit, and customers want commercial quantities. Therefore, I decided to process and store, and when these months arrive, customers normally come to me, and I never fail them, and some would even book for oil in advance.
Section 4 Do you analyze your potential customers and act accordingly? A successful businessman should keep a close eye on the demand and act accordingly with a changed strategy.
I usually keep close eyes on my clients. For example, if someone others a ride from me and he hasn't done that for a very long time or if someone makes use of my courier service and has not patronized me for a long time, I will call the person and first of all ask about his wellbeing, then tactfully ask why I haven't received his patronage for a while.
Many would be fair to me if I lacked something in my services by telling me what the problem was because I had established relationships with my clients. I will work on those areas and improve my services, I never fail to apologize and promise to serve them better. For example, there's a client of mine who stopped using my courier service whom I called and humbly and tactfully asked why he withdrew his patronage, and he told me that we didn't deliver the package on time. From that moment, I stop the habit of keeping packages till I have many that are going to the same destination; I send them on the same day of reception. I apologized to him and promised that it would not repeat itself; I am happy to tell you that we have received his patronage again.
I also introduced my business to people who are not my customers yet and told them about my packages. For example, two weeks ago, I received a call from someone to whom I introduced my transportation business. He ordered a ride, and I gave him a first-time ride discount as I promised. Therefore, I look for people who may need a ride somewhere, and introduce my business in detail to them.
In summary, for a business to grow and flourish, there must be effective marketing planning and innovation, and the demands of customers must be met.
Thank you very much!
I invite;
@goodybest
@usherray
@blessedbee
Best regards
