Post Image
  There comes a point in the life of a growing business in which it has to reach out beyond its current physical or demographic limits. When your enterprise arrives at that bridge, you’ll want to be sure that you have all it takes to cross it and take advantage of all that’s available on the other side.
Read more about Business
However, even if you have significant resources with which you can barrel your way into new domains, you may remain keen on launching out with less. Your aim could be to maximize every naira you spend on entering new markets so that you have enough to actually make an impact when you’ve settled down there. In this article, we’ll talk about 5 relatively inexpensive ways you can do just that. Here they are:

Embark on Demographic Sensitive Marketing

This means crafting your marketing message so that it appeals specifically to the demographic you’re trying to reach. Mirror their communication language and style, address concerns peculiar to them, speak to their hopes, and emphasize how your product or service meets their needs. You could try to engage them on social media platforms and websites which they use frequently. Doing this with some intensity and smarts will open up a path to the markets in which the demographic(s) in question dominate.

Partner with Complementary Product Producers

If there are items that are used along with the product you sell, a good idea would be to work with their producers to sell your own products to their customers. The flip side of this agreement would be that they would sell their offerings to your own customers too. It’s possible that many of their customers have never heard about or used your brand. It’s an approach to getting into a new market that won’t cost you a lot.
Sign up for the Connect Nigeria daily newsletter

Get in Through a Business Club

Business clubs are, among other things, a convergence of commercial organizations. When you become a member of one such club, you could start off a working relationship with one or a few other members. These people—and their businesses –may help you take advantage of opportunities you would otherwise not be aware existed. One such opportunity could be the chance to break into fresh markets, along with the information and support you need to do so. If you’re in Nigeria and would like to join a business club that gives you this kind of access, you can check out Club Connect. You can find out more about Club Connect HERE

Run Informative Webinars

In the business world, trust is supported by a number of things, including the perception that the trusted party understands their customer’s problem, and can deliver a solution that really solves it. One way to build this component of trust is to present your business as having broad and deep expertise in its area of concern. Webinars provide you with an opportunity to do just that. Run them frequently; seek out attendees through vigorous organic marketing, paid averts, and word of mouth; and reinforce your expertise through follow-up content. In time, the number of prospects seeking out your solution will grow.

Target Locations with SEO

If you want to gain customers in new locations, you can direct your marketing to those areas with Search Engine Optimized (SEO) content. This usually involves publishing content that includes location-specific keywords—that is, phrases with which people looking for something in a certain location would search for that thing in a search engine (e.g. Google). For example, if you would like to sell cakes to people in Surulere, Lagos, you could write content which includes the phrase “Cake bakery in Surulere” at least a few times. A sustained SEO campaign, if it ticks the right creative and technical boxes, will draw a large number of new customers to your business.
Register to attend the CN Business Mixer

Final Words

The process of expanding into new markets can be laborious, drawn out, and quite expensive. But with the right set of approaches, it could be a lot cheaper. Follow one or a mix of the ideas we’ve shared here to slash your business’s market entry costs and set your enterprise up for success in its new space. Featured Image Source: Sales Focus Advisory
Got a suggestion? Contact us: editor@connectnigeria.com
You might also like:
This article was first published on 11th October 2023

ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *