The Economy Is Bad Do This For Your Business Safety
In my country Nigeria, the economy is already bad ever since the Central Bank of Nigeria (CBN) adopted cashless policies with poor implementation designed never to work. Today Nigerians now buy their own Naira currency with Naira right in Nigeria: Sad right?
The situation is so hard that the outcome of the policy is already affecting business, some business has already closed down, while more are on red alert, and there are reported death cases as a result of this poor cashless policy across Nigeria
People are hungry, Innocent in Nigeria, no money, even those who have little money can’t access their own money, and both the CBN and Federal Government are careless about the faith of Nigerians in a time like this
So to you as a businessman, businesswoman, and entrepreneur what should you do when the economy is already bad, what should you do to save your business from collapsing?
Note: The economy is bad not just within Nigeria as we hear cases of banks collapsing in the United States weeks ago. As more banks are projected to fold up in the coming months with investors’ money.
This has called on people, more important business people, business owners, and entrepreneurs around the globe to ask? When The Economy Is Bad, what should one do to keep his or her business going
The Economy Is Bad
With everything happening in the world, in my home country Nigeria. With interest rates skyrocketing, my home country’s currency scarcity, and now the banking system failing, there is a good chance it will affect the economy for a long time, in a way you and I will not like if we fail to prepare now
The question is what should you do? to keep your business safe, even with the AI age revolution, creating destruction across the tech and online business. People have started losing their job, no thanks to the AI model
Together with how the economy is going, poor government policies, Russia and Ukraine war, and bank system failure. All this means you have to be super careful with your marketing efforts, marketing plans, implementation, as well your spending.
In Fact: you must be more careful about your spending as now is a time to be more watchful about the things you put your money into, the things taking more of your money as the inflow of money is reducing across Nigeria and the global world: Be Careful With Your Spending
Not just on your spending: Also look at what it takes you to get customers for your business, be progressive and triple your marketing focusing on the areas bringing your positive returns
You should pay attention to your marketing, investment, and returns on investment. It will help you understand what it costs to acquire a customer and how you can reduce your wasted marketing spend (and then focus more on things) that are working for your during this economy hard time.
If you can optimize your marketing spend, and pay more attention to your investment, your marketing, and your returns on investment you can then be more efficient, scale up faster, and take market share from your competition profitably.
You and your business will be safe during this economic hard time. These are the simple things you should do to keep your business safe at a time like this
That’s the key, the tips I have just shared here are just but a subset of things you can do to keep your business flourishing in a bad economy.
On the be mindful of how you spend, yes!! there is nothing wrong with spending money on marketing, it just has to be done wisely, and correctly on things that are working, things that are bringing your much returns
One more important thing is the ability to have a good “Customer Acquisition Cost (CAC). Meaning in all you do, make sure you get even if is a customer daily, as well as working with your existing customers
We have provided a toolkit to help you get massive customers across Nigeria, Go here to get access to the Download Nigeria Business Database GSM Number And Email Database
You will need the WhatsApp Mass Sender Application, a tool you can use to send mass messages across active Whatsapp numbers targeting any country mobile number database or niche bases
ALSO Watch This Short video “When The Economy Is Bad Do This For Your Business Safety”
These are comb strategies you can get today, employ them to ket your business safe at a time like this, scientifically. The economy will keep getting hard and this may last longer than we expected