If we are being honest with ourselves, we can agree that scaling your business is hard. It takes considerable effort. In the beginning, you take on so many responsibilities. It means dealing with sales and marketing. It involves having to interact with customers on a daily basis. And so much more. At the end of the day, it takes a toll on you.

Whether your brand is new, or has been in business for a while, growth is essential if you’re to thrive. Businesses that don’t grow soon disappear. The following are some simple but great growth hacks that will skyrocket your business growth to the next level in a short while.

Better and easier payment channels

A payment channel is any way that a customer can make a payment, or anywhere that YOU (the merchant) might accept a payment. Payment channels are specifically associated with how the payment is made. As a merchant, having little or no hassles when it comes to payment is the sweetest feeling you can ever imagine and the smile your customer awards you with at the end of a transaction becomes the cherry on the ice cream. With digital payment platforms like Waya PayChat’s scan to pay feature, you get to enjoy fast and seamless transactions as a merchant. All your customers gotta do is scan your merchant QR code with their scanner on their Waya PayaChat account and money would be transferred from their Waya Wallet to yours.

Form Strategic Partnerships

Take a look at this scenario.

Madam A sells Ewa Agoyin

Madam B sells soft Agege bread just down the street from Madam A.

Madam A noticed that a lot of her customers always wants to eat beans and bread but don’t patronize her enough because she doesn’t sell bread. So, she walks up Madam B and proposes a partnership between both of them. While her customers buy beans from her, Madam B will supply them with bread. That way, business blooms for both of them. See wisdom!

Strategic partnerships with the right companies can truly make a world of difference. It could allow you to reach a wide swath of customers quickly. Identifying these partnerships might be easier said than done but you need to find companies that complement your own, contact them and propose opportunities of working together.

Learn to Copy and Paste Your Competitors plans

I know what just crossed your mind now. ‘’Copy and paste my competitors work? As how? Why?’’ Calm down. We aren’t saying you should steal the Formula X to their business. Take a look around your industry. Watch what’s going on. Study your competition. Follow what works for them. Your competitors are selling their products to the same target market you are and if what they’re doing is working, you can best believe it could work for you too! This is a strategy in itself that can greatly increase the effectiveness of your sales.

Growth hacking is all about finding new shortcuts to grow your business and bring in more consumers. It is a completely ethical and efficient practice, fear not. If you can follow the tips above, you will watch your business grow from the bottom to the next level. This will help in taking your business to the next level.


Waya PayChat app is available for download on Playstore
https://play.google.com/store/apps/details?id=com.wayapaychat

Hey you! Yes, you reading this article right now, here’s a question for you.

Are you a small business owner? Are you thinking of starting a small business any time soon? If yes, keep reading.

Small business owners are constantly looking for ways to optimize brand awareness and market their products or services. The importance of having a strong presence online and having information about your business readily available and updated for potential customers in a digital economy cannot be overemphasized. Who knows, your next big client or customer might just be a click away.

With small businesses, getting the word around can be really tasking and cumbersome and this is due to lack of resources like your budget or your time. But not to worry, there are a few tricks and strategies to pushing your small business marketing efforts.

The following strategies are very vital to you generating awareness for your business.

Know your Audience
‘’The riches are in the niches’’ for a reason. Not just anyone is your customer. Create a niche for yourself and appeal to buyers within that niche. You get to understand their thinking, problems, buying patterns and so on. Think about your existing customers and those you’d like to work with. After that, create a buyer persona to understand what the ideal customer for your business is.

2. Know what works for you.

After experimenting, pay attention to the data you have collected. This will tell you what works for you. It’s a good idea to double your efforts on the proven methods that generate revenue for you.

3. Understand the Power of Existing Customers.

The fact that you need new customers doesn’t mean you should forsake or abandon the ones you have acquired already. Don’t stop marketing and enticing them with your products/services and deals after they make a purchase/financial transaction. Customers who have patronized you and are satisfied with your products are usually the ones to refer you to others.

4. Promote Yourself on Social Media

People socialize and connect on social media but it’s also a very powerful business tool. It can help you build and increase traffic, boost search engine optimization and give you the opportunity to have engagement with potential customers. A good example is Wayagram on Waya PayChat. You can position yourself to meet your potential customers, advertise your goods or services, makes sales, get paid into your Waya Wallet which is a mobile wallet and decide if you want to move your money to your bank account or not.

5. Invest in Ads

Building organic traffic takes a while and as a small business, you do not have that luxury of time. That’s why we recommend you jump the gun and use ads to push your business visibility. Google Ads are perfect for this if you know who exactly your audience is. Social media ads (Facebook ads, Instagram ads, Twitter ads and Wayagram on Waya PayChat) are great examples as well.

With highly targeted ads and the right impressions, you can capture the interest of your audience.

Just to end this, if you don’t measure it, you can’t manage it, and it couldn’t be any truer than this for marketing for business.

The app (Waya PayChat) is available for download on the Play store.

https://play.google.com/store/apps/details?id=com.wayapaychat

You want to control your spending and work towards a financial goal, and you do not have a budget. Fetching water with a basket would be more realistic, you know.

A budget is a financial outline designed to measure and guide your income and expenditure for a certain period of time, such as one month, a quarter, or a year. With an understanding of the budget basics, you can track the amount you’re making compared to what you’re spending and saving.

If you are new to managing your own finances, never learnt how to budget, or just tired of living from salary alert to salary alert, this post is for you. Follow these steps to set up a realistic budget.

DETERMINE YOUR INCOME

Start with how much money you make each month. If your compensation varies, using an average will be okay, but the more accurate the better. Don’t forget other income sources as well. Now that you know your income, you can review where it is going.


DECIDE HOW MUCH TO SAVE

Once you’ve set your financial goals, decide how much you need to save for each goal. If you want 100,000 naira for a house down payment in five years, save #1,666 naira monthly. The more specific you are about how much to dedicate to each goal, the more likely you’ll achieve it.

CALCULATE EXPENSES

Break up your monthly spending into specific buckets. For many people, this will be grouped into housing, transportation, utilities and food. After those, you can use additional buckets like “Dining out”, “Vacation”, “Clothes”, etc. Remember, some expenses may not be monthly so review prior months to get a holistic picture of what you spend monthly.



CALCULATE THE DIFFERENCE

If your expenses are already greater than your savings, you have 2 options. Make more money or spend less. Generally, it’s easier to reduce spending. Look back at your budget and determine what can be reduced. Dining out less? Fewer new clothes? Data Subscription?

If you’re saving more than you’re spending, that’s great. Are you happy with the amount you’re saving? If not, what else can be eliminated?

MAKE IT A HABIT

As the saying goes, practice makes perfect. Try as much as possible to stick to your budget and if possible, review it every two weeks to see if you’re on track and sticking to your financial goals.

Budgeting is never an easy stride, but it is an essential step that has to be imbibed if anyone desires effective financial management. The trick is always to try as much as possible to follow the strategies and continue to persevere as it leads you to the promised land.

Download Waya PayChat app on Playstore

https://play.google.com/store/apps/details?id=com.wayapaychat

Multiple debit cards in our wallets, at least 2 bank apps running on our phones, several POS machines in our shops – if one is out of service the other should work, not to mention several efforts over the years with the same goal of simplifying the exchange of money between the consumer and the merchant, yet mobile payments and payment collection in Nigeria remains so complex and the experience is more likely to be bad than impressive.

The testimony to which is the long checkout queues at the malls, no thanks to slow or unresponsive payment channels, several “Your service provider is currently unavailable” at may payment points, frequently failed bank transfers not to mention PoS points that are out-of-service more times than they are in-service.
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An efficient e-commerce ecosystem would have gone a long way in easing the pressure off many of these payment points, but then our e-commerce players are currently struggling with dishonest vendors, bad customer service and inefficient return policies that have made many Nigerians completely lose faith in e-commerce and forced them to face the stress of physical shopping.

The WAYA PayChat Pivot

What Waya Multilink Technology Ltd has done with Waya PayChat is to create a mobile payment solution with multiple innovations embedded in it to address key market needs, one of which is to significantly ease the time spent at mobile payment points and reduce the pressure at these payment points significantly.

Aside from the scan to pay feature, other innovative features on the Waya PayChat app for users to explore and enjoy are the Waya Gram for unlimited socialization, Waya Chat for free call and chats with friends and families, and money transfers directly to phone numbers rather than bank accounts.

Waya PayChat app is available for download on Playstore.

https://play.google.com/store/apps/details?id=com.wayapaychat&hl=en