Firstbank Urges SMEs to Leverage Digital Marketing for Business Growth

In its continuous stride at capacity building for Small and Medium-scale Enterprises (SMEs), Firstbank has urged SMEs to take advantage of the various social media platforms to grow, promote and build sustainable businesses.

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The Head, Digital Marketing, First Bank, Chinwe Bode-Akinwande stated this during the bank’s SME Connect webinar themed; “Leveraging Social Media for Business Success: Best Practices and Strategies for Building Your Brand and Growing Your Audience,” held in Lagos recently.

She said: “No matter how small your business is, you need these tips to create a content strategy- define your target audience and identify them, their interest and the type of content they consume. Define your content marketing objective, and determine what you want to achieve.”

“Choosing your content formula will allow you to know what type of content you want to create and also spying is allowed, research the latest trends going on social media platforms. Doing all of these will keep you relevant in your own space and have a voice as it is very important in creating content,’’ she said.

Head of Growth, Cashaam, a social commerce platform and marketplace for micro-entrepreneurs, Michael Olanrewaju, urged SMEs to promote and capitalize on the vast reach of social media platforms and existing e-commerce platforms.

He added that placing strategic ads could help target ideal customer.

“So, the first secret to revolutionizing your business is targeting your ideal customer, this means understanding their needs, interests and pain points and creating your adverts’ contents that speak directly to them. So by doing this, you will be able to attract more of the right customers to your business.

“The second is optimising your adverts for conversion, using a particular objective called sales or conversion which involves constantly monitoring and tweaking your ads to make sure they are performing at their best.

“Thirdly, it’s the campaign budget optimisation; when you run out a campaign, you have to set up a budget for your campaign which is the total amount of money that you are going to spend on your adverts,’’ he said.