Business Marketing And Strategy: The Meeting Point
If you ask the average Nigerian Entrepreneur starting out in business, "how do you intend to attract customers and drive sales in your business?" You can almost guess what the answer would be. "I'll just hire Marketers who would go out and bring in the sales". They'll mostly respond. Guess what? I can boldly say that the larger percentage of business failure we experience with Nigerian Entrepreneurs could be attributed to this assumption that: Hiring Marketers = Automatic Sales. But here's the thing. Sales in business, and business growth relies solely on 80% STRATEGY, and 20% MARKETING. The 80:20 principle comes alive again. Now, what's the better approach? I'll paint 2 scenarios of how my firm works with our clients and I believe that will make obvious how best you should engage henceforth. 1st Scenario. Sometimes last year, there was this client that spoke to us. They wanted to introduce some new products into the market, and required us to fa...