Choices! What will it be? #53
Photo Credit: @patjewell
2 Secrets to Making Profit Online
Right now, there is so much hype around the internet. If you are usually active online, particularly on social media platforms like Facebook, Instagram and LinkedIn, you will agree that these cyberspaces are almost becoming a home for most individuals and businesses.
Young Nigerians are doing remarkably well in building a good online presence. They are making massive profit organically as well. My favourite is Chinaza Favour, a young single mother, who is committed to helping over 120k people become better versions of themselves through her content, events and training. She has written valuable books and sold them to this same audience online. Her fame has grown so much that it attracts prominent brands to her. The list is endless.
Chinaza's notable progress on Facebook proves that the internet has grown beyond being a den for nefarious activities. It can also be a fruitful place for individuals and businesses when used well.
One common mistake I see most small business owners make is trying to sell to an audience that doesn't really exist. I will explain this in a bit.
Oftentimes, I'll scroll through my newsfeed to see someone selling a product or service to the wrong audience.
For instance:
Sharon owns a brick-and-mortar store where she sells quality thrift clothes for babies. Her business' ROI in the last 2 years has been very low. Sharon decides to attract more loyal customers so she begins to post images of her wares on her social media timeline.
But Sharon has a big loop somewhere.
Photo by Anna Nekrashevich from Pexels
A quick analysis of Sharon's social handle shows that she has 5k friends and 2k followers. The dashboard reveals that:
i. 70% of her audience are below the age of 30
ii. 66% are males
iii. 13% live in Uyo, her state of residence. And they are mostly her church members, village people and course mates.
Now, there is a problem.
Selling her product to this demographic group may not give optimal results. First, because Nigerians within this age range are mostly students. Also, they are typically single young adults (most males get married by 30).
This is only a snippet of the limitations.
1. Building a personal brand
Photo by Mikhail Nilov from Pexels
A personal brand creates a perception of how you want people to see you. Do you want to be seen as the smart copywriter who knows her onions? Or the jovial comedian who makes people laugh? Do you wish to appear as a thought leader like @patjewell or authority in your field of specialisation like (mention that person on your mind)?
Studies show that people connect deeper with personal brands than business brands. That's why Tony Elumelu’s personal LinkedIn account has more engagement and followership than his foundation's page. It could bring you more loyal and returning customers.
2. Understanding how your preferred platform(s) work
Apparently, this should be the first step every budding entrepreneurs must take. To make profit online, you must understand how most platform works. This would enable you to identify whether your preferred platform aligns with your business goals or not. It helps you know where to find your audience. A business targeting 10-20 year olds would best work on TikTok, etc.
Final Thoughts
This is a rather interesting topic, I'll love to revisit some other time. There are so much I can not explain in detail due to want of time and space. However, if you are an emerging entrepreneur, with a desire to make profit online, you should consider these two secrets. If you are not quite sure how to go about them, ask me how in the comment section. I'll be willing to help you double if not triple your profit legitimately online. Without using any cunning means.
I'll leave you with this note:
There are over 5.17 billion people who use social media all round the world – which represents 64% of the world's present population. Also, about 95% of all shopping would be done online soon.
| Remember, the internet can affect the life of business positively if you start making the right choices today. |
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Written by @ukpono on 15 April 2024
Inviting
@rossnenye and @chiomzy810
A very interesting publication.
To be an influencer you need to know where you want to go and which social network to use.
To be successful in an online business you must have an investment plan, a business plan and a work plan. You have to know the target and of course the product or service must be good.
There are many factors that can affect an online business, so the first thing is to educate yourself and understand how each of the social networks work and how you can take advantage of them for your benefit (that is, the person who has their online business).
I live in Venezuela and I do not use social networks. Even less to buy. I have met people in Spain, Germany and France who don't like social networks. It seems to me that the generalization is not correct. I don't think that 95% of purchases in the future will be online.
Your final sentence is excellent.
Greetings and success!
Digital marketing is very popular where I live. So many professionals and businesses display their services and products to potential customers using various platforms. It intrigues me to learn that there are places where online marketing is still growing. Thank you for sharing your thoughts with me and other budding entrepreneurs here. ❤️
Hi @ukpono,
Thank you for contributing 10% of your post to support community growth.
It was interesting to go through your post. You have brought up some valuable points for everyone interested in earning through online business.
Thank you for participating…..
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Thank you for the feedback.
Umh.. I should give your post to my stepson to read.
He believes that he can make billions of rand as an influencer.
It is the buzz word they are all talking about.
Good luck with the contest!
Great move.
I'll love to know what he thinks about it.
One thing I'm sure about is that, digital marketing and content creation are both profitable venture. Like every business, they demand time, patience and a well structured, data-driven plan.