How To Run A Profitable Business In This Digital Age

There are lots of things in this digital era that can help any business to become more profitable. In this article I will explore 3 things in this digital age that will help you grow your business and become more profitable. They are:

1. Online Presence.

2. Customer Relationship.

3. Branding.

There are more you can do to run a profitable business in this technology age but I want to take this for a start since they are the basic ones.

Lets start with the first one…

Build Online presence:

Building online presence for your business is the first step towards growing your business in this digital era.

An online presence is any existence of an individual or business that can be found via an online search. You have to learn how to engage with customers online and enhance that customer experience.

Ways To Build Online Presence

Creating websites, blogs, social media accounts for your business are the basic ways to bring your business online. And the good news is that most of the platforms that helps you build online presence are free and very easy to use. Platforms like Blogger, Facebook, Twitter , WhatsApp etc.

From this platform you can tell the world what you can offer and even engage your customers who are on that platform.

For example: a Principal who is in-charge of a secondary school can create a school page where the school can share information with the parents of their students who are on that platforms and even show pictures and videos their achievements. Traders also can share pictures of new and better products they are selling. Is that not free advertisement?

Lets move to the next one…

Build Relationships With Your Customers

Yes, I mean real relationship. Get to know your customers very well. Get their contacts, their email address, their social media account links and even their birthdays. Technology has made this very simple that you just need to search their names on the social media platform you think they and eventually you will find them.

Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” — Steve Jobs

How To Relate With Your Customers

You can relate with your customers through social media platforms. This is becoming the fastest and easiest way to connect with your customers.

You can also create groups and pages for your customers and share exciting contents that will keep them coming. Give them firsthand information about your product.

Another way to relate with your customers is through SMS( short message service) and through email. Here you can send them “product discount” emails, especially those “die hard” customers. When I say “die hard” customers I mean those customers that keep coming to buy from you.

Also don’t forget to send them occasional messages like Seasons Greetings, Christmas Wishes and most importantly BIRTHDAY WISHES.

Always give people more than what they expect to get — Nelson Boswell

Lets move to the last one…

Differentiate Your Business (Branding)

Build your brand. Yes, you have to start branding not just for your business but also for yourself. I may not know much about branding but I can show you the basics.

Here is what Debbie Millman an American writer have to say: Branding is deliberate differentiation.

To build a brand for your business you have to choose a business name. You have to communicate your business values to your customers both online and offline.

What make you unique, what are your customers paying for? The answer is Brand.

How Tow Build A Business Brand

Firstly, you have to define your business brand mission statement. Your mission statement should contain what major(like ground-breaking) task your business is committed to deliver for it’s customers.

For example: Google’s mission statement is to organize the world’s information and make it universally accessible and useful.

Secondly, you have to outline the key qualities and benefits your brand offers. What are your customers going to benefit from using your product? What are the qualities of your product that will make it appealing to your customers?

For example: Apple’s key quality is their Clean Design and their key benefit is Ease of Use. And you can find this in any of their products.

The third part of building a business brand is creating a business logo and tagline. What is a logo? A logo is a graphic mark, emblem, or symbol used to aid and promote public identification and recognition — Wikipedia

Your logo is your public identification. Its what your customers sees to recognize your product.

You also need a tagline. Your tagline should be a concise form of your mission statement.

Here is an examples of tagline:

MTN — Everywhere you go.

Glo — Grand masters of data.

Finally, integrate your brand into every aspect of your business. For example your logo should be found on your product, packaging materials, website, blog, social media account etc.

Please note that, there are lots of things you can do to build your brand but for this article I choose to share the basic ones. For me this ones are that can get you started.

The value of knowledge is in it’s application - David O. Oyedepo

Now go and use what you have learned here and build a profitable business. I am will be waiting to hear your success stories.