At the FirstBank Q3 SMEConnect webinar with the theme, “The SME Growth Blueprint: Practical Sales Strategies to Win Customers and Boost Revenue,” Head, SME Banking, FirstBank, Helen Willie said, “At FirstBank, we promote innovation and job creation. The programme is designed to promote entrepreneurship, empower SMEs in Nigeria to succeed and overcome challenges in their business.”
Willie said that to innovate, strategise, understand, expand customer bases, increase sales and build a successful and strong brand base is the reason for this programme.”
In addition, CEO/Founder, Bags Warehouse, Helen Mojisola Ijaola said, “Business grows when you are able to attract the right, and relevant customers, as those ones are your real customers. Ensure you monitor your customers and prices in the market to ensure that your competitors are not taking your customers.”
Ajaola said, “Apart from pricing of products, customers are looking for quality service treatment. Among all, identify your targeted audience, everybody will not be your customer. Your customers are those whose product can solve their problem – those who are able to pay for your products. Create a good relationship with your customer, they can advertise your product when you treat them well. Understand your number. Your cash flow is important, take inventory to determine how your cash is moving. In all, ensure that your business is making profit.”
Again, Founder/CEO, Mamalicious Products Nigeria Onome Gbenga-Adewara advised SMEs, entrepreneurs to design strategies that attract customers, and choose businesses that are scalable because what defines massive sales is your unit economies, replicability. “It is market size that determines business growth.”
According to her, the type of product you choose may affect your business. “So choosing the right product and falling in love with market opportunities that can position your business to grow and expand. Learn how to diversify into better products. Also pay attention to market size whether your product is growing or shrinking. Always ensure that you are selling quality products at an affordable price in order to beat your competitors. Don’t be isolated with your pricing, look at the market and adjust.”
Continuing, Gbenga-Adewara stresses the need for engaging the right team, getting experienced people to push your product to make more profit. “It is important to train your workers if you are in the production line. Train them to achieve targets because there is a need for accountability.”
She also encourages business owners to pay attention to distribution. “A product that will win, is a product that is widely distributed. And as well apply God’s factor.”
In the same vein, Group Head, Retail Banking Group, FirstBank, Olusola Ogunsakin said that the bank has designed SMEConnect to promote business growth, expansion and resilience.
Ogunsakin said further that FirstBank has designed products that would help customers succeed in their business, and it is another way of building customer relations.
He said, “While dealing with your customers, consider their preference before delivering your products, because poor delivery, poor order affect business growth. He advised business operators not to ignore customer’s feedback. “Don’t promise what you can’t deliver. Don’t just throw products at customers, build relationships etc.”
