It is no news that online technology is the present and future of global business, what is news is the ease in leveraging on online technology today especially in a country like Nigeria. When I look around the streets of the city I currently reside, Abuja. I see a whole lot of enterprise especially start-ups in every corner, this is really impressive but could really be taken to greater heights. Most of these businesses have one thing in common, they are localized, that is to say even though their products and services are needed or wanted by the entire city, only a few know where they are located and what they offer, and this said few either know them because they live around the same locality and may have seen their sign posts or actual business location or best case a referral by word of mouth. These businesses do not meet their full potential because they limit themselves by not leveraging on online technology.
In this same city Abuja where this research was made the cost of a shop location is at the rooftop especially in the city center, the cost of transportation is also high because the entire city depends on taxis and buses to the outskirts. So a business owner pays in the city center between the range of 450,000 Naira to 700,000 Naira.( This are really modest figures for modest shops or mini offices the reality is way higher) Plus some service charge and other bills.
Now after all this investment is made, it breaks my heart when I see how these businesses still limit themselves by not leveraging on the ease of online technology, for example, A business owner, sells quality designer clothes or high end gadgets or perhaps even offers a quality service with efficiency and pays a rent of 600,000, a year among other bills like payment of workers, fliers, signboards, utilities etc. and does not have a website, or a facebook page, just puts his phone number and address on a signboard and gets to work. He's email is most often @gmail.com or @yahoo.com
Meanwhile someone else with less quality has a website well designed with ecommerce functionality, has his email @hiscompany.com (his business email) has a facebook page with lots of likes, an instagram, linkedin, twitter and google plus. He also pays for ads once in a while on google and facebook.
Now this second person will look more professional than the latter and will more likely get more business and the funny part is the budget that separates the two businesses will surprise you in the sense that the second person spends even less than the first person on publicity. for example a radio ad that lasts 45 seconds costs about 45,000 Naira meanwhile a website of the same amount will be up for a year and will have greater reach.
With the present economic climate in Nigeria and the change era which is our present collective reality it is a no-brainer to leverage on online technology to increase business opportunity. depending on your product or service, a website well tailored for your business will cost you a lot less than your rent and bring you a lot more.
I will continue with this topic another day.
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