I have been
writing this blog for the last few weeks, I must admit am happy due to unwavering support, growing following and important encouragement, I have received since I started writing this blog.
In this post I would like to emphasize why Kenyan businesses need to take
internet seriously as a good medium of marketing business and growing
innovative business ideas.
I would like to focus on some important things that
business in Kenya and Africa can do online to compete with other businesses
globally.Since the
last general election in Kenya the terms ‘Digital’ and ‘Analog’ have been
household names that all Kenyans have mentioned at one time or another.
The idea
of going digital seems to be met by great amusement by all Kenyans; I can’t
help but wonder does the average small business owner understand the benefits
of digitizing their business? Most probably, they don’t have an idea on how to
go about that.
Thinking Hard about Digitizing Kenya Small and Medium
Businesses
There is
one old saying that was repeated severally by my teacher ‘there is strength in
numbers’. This was to encourage us towards team building for success in
academics. Looking back to those years of school, I see my sheer ignorance or
stupidity for blatantly refusing to be part of academic groups. I was simply
the kind of students who wants to read and no discuss groups.
In a
different perspective, I have learnt for growth of any business, there are two
things that must be present:
- Goods or Services
- People willing to buy the goods
Success in
business is defined by profit made which depends on the NUMBER of goods sold or
NUMBER of clients offered a service. This seems to be pretty obvious to anyone
reading this post, but it is not practically obvious.
Why did Safaricom become so Successful?
In Kenya today
the most successful company is Safaricom, have you ever stopped to think about Safaricom
business model, why they came into the market in the last 10 years and they
were able to make such a big difference?
Let me help
you think; the sole reason Safaricom continues and will continue to make more
money into the distant future is not a secret, their subscriber base or if you
like clientele base is the driving force behind great profits and success. The more
subscribers they have the higher the chances of making more money through sales
of technology goods, advertisements and services
Secondly,
the nature of the services and goods they sell is another contributing factor
to their success.
There is a
third reason that may not be obvious; some people will want to call this monopoly
but let’s sugar coat it as; entry to new market that did not have existing similar
goods or services.
These three
reasons are the most like the pillars in the business model of a mobile company
like Safaricom that enters a new market.
Why Did Equity Bank Grow Very Fast?
Equity Bank
is another example of a successful business within the last decade. When Equity
started aggressive marketing they had one thing in mind, increasing their subscriber
base or if you like account holders. Unlike the traditional ways employed by
banks in marketing Equity was able to start opening banks in places that banks
did not exists.
This is the
element of venturing to new markets. They also provided the common mwananchi with a way of banking. Instead
of banking for only the corporate, salaried and business men they started
venturing out to small farmers in the village, small business owners and so on.
Were they successful? Be the judge.
3 Ingredients for Digital Business Success
- Building a huge client base or subscribers list
- Goods or Services of high Value
- Venturing to new Markets or emerging markets
Success Tips for Digitizing Businesses in Kenya
There are
two benefits that Kenyans venturing to Internet businesses will continue to
enjoy but not for a long time.
- Low Competition
- Cheap Services
In Kenya today,
getting a website design for you can cost as low as 10,000, It is therefore
very easy for anyone in Kenya who owns a business to have a professionally designed
website for their business.
Internet
Marketing in Kenya is also at its infancy with so many business owners who have
not even heard about search engine optimization. Kenya business owners can take
advantage of this low competition online to establish themselves through
internet marketing.
The future
will be more competitive and this time present a great time to start marketing
your goods and services through internet in Kenya.
Social
Media marketing in Kenya- Marketing through social media in Kenya has not picked
the pace and still more and more people will start realizing its potential and
the competition will be higher.
Important Digital Business Tips
When you
venture to new market you are fulfilling all the three success principle shared
by both Safaricom and Equity business growth models;
Venturing to new markets: you will
not find any tough competition, Internet in Kenya presents all businesses with
a great place to establish a following and numerous business leads with less competition
or no competition for keywords and search terms
Huge audience: The audience in Kenya online is
growing rapidly especially through the smart phones. This audience will obviously be ‘hungry’ for
your business services and goods. It is very easy to establish this huge clientele
base if you are offering valuable services.
Nature of your Services or Goods: Kenya internet
audience is ready for ‘the next big thing’ this opens a window of opportunity for
any business that wants to add value to their goods and services.
Example: A restaurant owner may consider issuing
coupons for special offers via the restaurant website. He not only promotes his
brand popularity, increases the website audience but also grows his business significantly.
The past decade
belonged to Safaricom; your start up today could dominate next decade!
What are
you doing towards success?
Have a
Great Day
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