Economy
How The Internet Can Help Your Business Grow
If you’re serious about building your business, the internet is one of the best tools you can use. This strategy is important because it empowers you to communicate with your online audience and then convert those prospects into business sales.
Online shopping is one of the century’s new norms. You don’t want to confine your marketing efforts to traditional advertising techniques.
For many though, it’s hard to imagine shifting away from traditional business growth strategies. The internet, though it’s been around for a long time now, is still a mystery to people.
Don’t let a lack of knowledge hold you hostage. There are millions of ways the internet is helping businesses of all sizes grow and become successful.
How Can It Help Your Business Grow
Growing your business using online methods and traffic is one of the best ways to put your business on the map. You are able to reach a wider range of clientele and create a brand image that is unique to your company.
Depending on the type of business or service you provide, you’ll find yourself with customers from every corner of the globe. These days making money online has never been easier. There are many strategies that you can adopt to help you achieve this goal. But, before you start making money online you need to understand just how the internet can help you grow your business and why it is such a powerful tool.
- Through Online Marketplaces
Online marketplaces are one of the best ways to grow your business. There are multiple strategies that business owners can deploy on these platforms. You can use them to help sell your products, digital books (ebooks), apps, online courses, etc. These styles of companies are geared toward getting businesses and customers to connect.
The significant thing about creating digital products is that you can also use your other social platforms to promote your products. This is a great way to drive traffic to your store within the marketplace and help you build a dedicated market for your work.
- Through Blogging
Blogging has turned into an incredibly successful brand-building strategy. It enables business owners to connect with potential customers, clients, and build an audience in a way that is completely organic.
This is one of the best ways that the internet or having an online presence benefits a business and helps it to grow. One of the best ways you can use blogging is to create engaging content that your audience finds valuable. People are drawn to those they feel they can connect with and as such, it is a way that businesses can connect on a deeper level with their customers.
Blogging can be completely unique, having a very specific voice, and helps to carry the message of any given company, individual, or other entity. There are numerous strategies that can be employed to make your blog engaging such as doing Q&A post, making content from customer suggestions
This can truly help to develop brand recognition and visibility.
3. Through Social Media Optimization
Social media optimization is an incredibly savvy internet marketing strategy that business owners can use to help their organizations grow online. This technique works by connecting the businesses with prospects that are already looking for their service. It’s a form of structuring your social media platforms to engage with those that are interested in what you offer, but it does so in a sophisticated and intuitive manner.
Social platforms are a lot more organic in nature. There is a relaxed atmosphere when engaging in content and this is how businesses are able to place themselves in front of the right audience without seeming pushy or aggressive. In traditional forms of marketing, this can be a harder feeling to recreate.
4. Through Online Reviews and Customer Engagement
Online Reviews and customer engagement are some of the greatest benefits of having access to the internet. As a business, one thing you always want is to have good reviews. Better yet though is having those positive reviews placed in front of the right audience. This is how having an online presence helps to grow your business. Customers can directly engage with you and talk about the experience with your company. It is organic and not forced. This will give potential customers a good look at the type of business you are and how you treat your customers.
In terms of customer engagement, it works in the same way. Addressing customer issues and concerns in a timely manner and positively helps with your image and turns into successful sales.
If you’re serious about growing your business, then you need to build an online presence. With the way the world is growing and changing, not doing so can see your business being left behind. It’s easy to get started and you’ll learn along the way which is a part of business ownership.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed higher by 1.41 per cent on Friday, May 15, supported by four securities on the platform.
During the session, FrieslandCampina Wamco Plc added N14.24 to its share price to sell for N159.00 per unit, in contrast to the previous day’s N144.76 per unit.
Further, Central Securities and Clearing System (CSCS) Plc appreciated by N1.34 to N72.34 per share from N71.00 per share, Geo-Fluids Plc improved its price by 4 Kobo to N2.94 per unit from N2.90 per unit, and Industrial and General Insurance (IGI) Plc gained 1 Kobo to trade at 61 Kobo per share compared with Thursday’s closing price of 60 Kobo per share.
As a result, the NASD Unlisted Security Index (NSI) rose by 58.20 points to 4,188.41 points from 4,130.21 points, and the market capitalisation soared by N34.82 billion to N2.506 trillion from N2.471 trillion on Thursday.
During the session, the volume of trades went up by 180.8 per cent to 1.2 million units from 417,349 units, and the value of transactions increased by 29.8 per cent to N29.8 million from N23.2 million, while the number of deals fell by 22.6 per cent to 24 deals from 31 deals.
Great Nigeria Insurance (GNI) Plc ended the day as the most traded stock by value on a year-to-date basis with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units valued at N1.9 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, followed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
By Dipo Olowookere
The bears overpowered the Nigerian Exchange (NGX) Limited on Friday, sinking it further by 0.76 per cent when the closing gong was struck by 4 pm.
The nation’s flagship equity market was under selling pressure during the session, as investors booked profits after the shares witnessed price appreciation in the past trading sessions.
The energy sector was the most impacted, as it shed 4.43 per cent. The consumer goods index declined by 0.90 per cent, the banking counter decreased by 0.15 per cent, and the industrial goods sector lost 0.08 per cent, while the insurance counter gained 2.42 per cent, which was not enough to salvage the situation.
Consequently, the All-Share Index (ASI) contracted by 1,912.19 points to 250,330.92 points from 252,243.11 points, and the market capitalisation moderated by 1.225 trillion to N160.444 trillion from N161.669 trillion.
Zichis was the worst-performing stock for the session after it gave up 9.97 per cent to close at N29.43, FTN Cocoa slipped by 9.95 per cent to N8.96, The Initiates slumped by 9.90 per cent to N32.30, LivingTrust Mortgage Bank tumbled by 9.88 per cent to N3.83, and International Energy Insurance dropped 9.71 per cent to trade at N2.79.
The best-performing stock was ABC Transport, which grew by 10.00 per cent to N6.27. May and Baker also appreciated by 10.00 per cent to N47.30, SCOA Nigeria surged by 9.98 per cent to N33.05, Trans-Nationwide Express expanded by 9.97 per cent to N7.06, and DAAR Communications jumped 9.76 per cent to N2.25.
Yesterday, investors traded 1.1 billion shares worth N44.3 billion in 65,744 deals compared with the 1.0 billion shares valued at N41.6 billion transacted in 74,822 deals a day earlier. This indicated a dip in the number of deals by 12.13 per cent, and a rise in the trading volume and value by 10.00 per cent and 6.49 per cent, respectively.
Chams was the busiest equity for the day, with 328.5 million units sold for N1.1 billion. UBA traded 61.6 million units worth N2.7 billion, First Holdco transacted 58.7 million units valued at N4.2 billion, Secure Electronic Technology exchanged 51.9 million units worth N45.0 million, and Access Holdings traded 51.8 million units valued at N1.3 billion.
By Adedapo Adesanya
The last trading session of the week at the Nigerian Autonomous Foreign Exchange Market (NAFEX) ended on a negative note for the Naira on Friday, May 15, as it lost N15 Kobo or 0.1 per cent against the Dollar to trade at N1,371.04/$1 compared with the previous day’s N1,370.89/$1.
However, it further appreciated against the Pound Sterling in the same market segment yesterday by N20.77 to close at N1,830.61/£1 versus Thursday’s value of N1,851.38/£1, and gained N7.91 against the Euro to settle at N1,595.07/€1 versus N1,602.98/€1.
At the GTBank FX desk, the Naira lost N2 against the US Dollar during the session to sell at N1,383/$1 compared with the preceding session’s N1,381/$1, and at the black market, it remained unchanged at N1,385/$1.
The Naira is forecast to be broadly stable, supported by Dollar sales by the Central Bank of Nigeria (CBN) amid steady, higher oil receipts, with the market settling into a balance.
Policy direction is also expected to give the market some boost as the CBN said the new edition of the FX market guidelines will deepen liquidity, improve transparency and strengthen confidence in the country’s foreign exchange market.
According to the Governor of the CBN, Mr Yemi Cardoso, the update is due to changing global economic realities, domestic reforms and the need for a more coherent and forward-looking regulatory framework. According to him, the last edition of the FX manual was issued in 2018, making the latest review both timely and necessary.
Meanwhile, the cryptocurrency market plunged into the red zone as rising bond yields hit risk assets across markets, while traders are increasingly betting the Federal Reserve may need to raise rates again. Rising energy prices and resurging inflation could force central banks back into tightening mode.
Cardano (ADA) shrank by 4.4 per cent to $0.2557, Dogecoin (DOGE) slid by 3.7 per cent to $0.1104, Ripple (XRP) depreciated by 3.5 per cent to $1.41, Solana (SOL) crashed by 3.5 per cent to $87.81, and Binance Coin (BNB) slumped by 3.4 per cent to $659.64.
Further, Bitcoin (BTC) declined by 2.6 per cent to $78,547.49, Ethereum (ETH) lost 2.1 per cent to quote at $2,209.19, and TRON (TRX) tumbled by 0.7 per cent to $0.3509, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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