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JData
3 Marketing Lessons We Can Learn From Netflix's 'Squid Game'
~1.8 mins read
3 Marketing Lessons We Can Learn From Netflix's 'Squid Game'
1. Word-of-mouth is more successful than the largest paid ad campaigns
Truth be told, word-of-mouth is what you usually read about when you're opening a 100-year-old marketing book; it's considered an all-time classic technique. I was always a believer that it works as a minimal factor in any marketing strategy, but Squid Game proves that it can be the major leading factor in advertising. Unfortunately, marketing firms can't buy or secure word of mouth, so it's usually done organically, but with social media being so accessible to brands, businesses can now attempt to trigger a wave of trends or buzz to get word-of-mouth going.
I heard about Squid Game from friends of mine who could not stop talking about it, but that was still not enough to convince me to watch it. When I opened my phone to see countless memes flooding my news feeds on every social-media app including Twitter, Facebook, Instagram and, of course, TikTok, I stopped for a second and had to give the TV show a try. A TV show accompanied by trends and memes results in one thing for certain: It almost forces you to want to watch the show so you can relate to the community around you and understand the jokes being told.
2. When your brand has a viral TikTok trend, it's bound for success
TikTok did not only reinvent the way brands reach their audiences, but it also set a new standard for how companies should approach their consumers. Today, it's acceptable for a large brand to comment on a post without having to be professional; in fact, serious brands that take an informal approach on the platform get a lot more praise and attention, resulting in higher free impressions. The dating app Tinder, for example, gets a ton of impressions by simply commenting funny phrases on any content related to relationships.
3. We don't know what consumers really want until they show us
This South Korean survival drama going viral will make sense once you actually watch it. It's a great TV show that will keep you on the edge of your seat, and it's rated highly by critics. Additionally, it's the perfect time to release such a show because audiences are bored of the copy-paste-styled shows now available on all these streaming services. There is a gap in the market, almost a need for something odd and fresh like Squid Game. The third and most important lesson the show can teach us is that we really can't predict what consumers want next until they show us.
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JData
Start A POS Business In Nigeria (Complete Guide) In 2021
~6.9 mins read
Start A POS Business In Nigeria (Complete Guide) In 2021
How To Start POS Business In Nigeria In 2021
1. Source for a good location.
Your location is basically the place your business will be sited, so its something you literally can’t do without. Although having a good location is important in every business, it plays an advanced role here. If you can get your location spot on in this pos business your success is 50% done already. I can tell you that it has special benefits that ensure you’ll be successful.
When you want to start a pos business in Nigeria, below are some of the key things you should consider before settling for a particular location.
Network
You understand good service is very important in the more is pos business right? This is because while a location with good network/service will ensure smooth daily transactions, a location with a bad one will give you lots of headaches; And your first-time customers will likely not come back.
For example, imagine a scenario where a client wants to withdraw, he then transfers the amount he wishes to your account. He’s seen his alert for the transaction but you haven’t seen yours.
And because of that, you can’t release funds to him. What if it’s an emergency the person couldn’t attend to because of the delay? That’s bad customer service and experience. If such happened to me, I’ll never patronize you again. And that’s why this area should be carefully considered when you want to start a pos business
Number of competitors
Some people run out of business before they start one, and that’s due to their inability to put minor things in place. Needless to say, your competitors are those into agent banking services of a pos business.
However, the ones that you should worry about are those that operate in your desired area of operation (that’s where you want to site your pos business). Secondly, those that are closest to your desired area of operation should also be carefully analyzed.
In the pos business, every other individual into it does the needful which include all but not limited to withdrawal, transfer of funds etc. In essence, there’s little difference you can make.
Therefore, the best that can happen to you is to site your pos stand business at a place with no/zero competition.
Pro Tip: Perhaps after carefully analyzing a place you feel you can have an edge based on your special skill, make sure those that are already into same/similar services (pos business) are not more than 2 or 3. As I said, there’s little difference you can make. Most especially, if those currently operating there are very professional. So please that this very seriously. You don’t want to run out of business before even starting.
Nearness to banks.
Whether you decide to start a pos business in a rural area or urban area; there’s none that won’t birth magnificent result if or when done properly.
The benefit of starting a pos business in a rural area is you’ll directly or indirectly add to their development; and also make sales. However, have in mind occupants of rural areas don’t really patronize financial institution; as they’ll rather keep their money at home.
Moreover, in urban areas, the need for instant gratification is on the rise. People want things like right now. That’s why they don’t do long queue. Furthermore, keep in mind that people in urban areas are exposed to loads of information and latest technology which makes them a bit more knowledgeable.
For example, I rarely patronize pos business owners to do transfers and make some other payment. That’s because I can easily make use of mobile banking and the internet is my friend. But my dad patronizes agent banking service personnel for almost everything that has to with payment, withdrawal and transfer of funds. Heck, even buying of recharge cards. Never mind why.
Therefore, ensure you analyse and understand the area and your target audience. This will help you figure out what you stand to gain, and what you stand to lose.
In a nutshell, just ensure your site/locate your agent banking service business/pos business stand at a developing area where there’s little or no banks nearby.
Why?
Because you don’t want people to be like – why will I pay you money when I can go to my bank or the nearest atm and back in less than 10 minutes.
In essence, a place whereby the nearest bank could cost at least ?200 to reach should be considered.
Level of crime rate or theft rate.
Because you’ll be dealing with cash, you need to take this very seriously.
People are hungry and very desperate, I’m sure you know this already. So your task here is to visit your desired location for your pos business and pop up this question to a business owner around there.
Good afternoon sir/madam, how many years have you been working here? And please when was the last time you experienced theft here?
You want to get a positive reply from persons running their businesses at that location for at least 2 years. And in most cases, when you get zero theft cases as a reply is best.
So when you want to start a pos business, do a theft or crime research on the location. This is to ensure the place is crime-free and it’s very safe to operate your type of business since you’ll be dealing with lots of cash at hand. You don’t wanna get robbed while trying to grow a business.
In summary, a place with zero or no crime rate is best to launch your own pos business stand in Nigeria. For the sake of your sanity, don’t neglect this.
Other factors you should consider while sourcing for a location when you want to start a pos business in Nigeria are as follows
Population: the more populated an area is, the more likely you’re going to get lots of customers.
Profile of people living there: the rate at which you’ll make sales at a place occupied by or with rich people will differ from average income earners. The rich in most cases deal with a very large amount of money which they’ll rather patronize their preferred bank. So for the best result, the area should be occupied by average individuals. Because the poor will rather trek to that bank to avoid you paying a penny.
Rules and regulations guiding the area.
Etc.
2. Draft your post business plan.
Every business needs a very good business plan. And this business plan is nothing more than a guide for your pos business.
As an entrepreneur, you want to start a business with certain aims and objectives.
And to make sure you achieve those aims, you need something like a pathway you need to follow in other to achieve them via varieties of strategies
So after making a decision on a location, estimate the cost needed to get a shop there; plus other cost and write your business plan. This is something you can do yourself following simple guidelines. But if you can’t, get a professional to help you out. If you need a business plan template, drop a comment.
3. Raise the needed capital to start a pos business.
For full content: Contact: 08065497941
Requirements and how to apply for a pos machine from banks
a. You must have a current, savings or corporate account with the bank.
b. Account number
c. Phone number(s)
d. Business email address etc
Visit your bank and you’ll be given a form which you’re expected to make use of the above details and sign.
After that, you’ll be directed to an account officer. The account officer will start processing your document within 72 hours; and hopefully, under 14 days, your pos will be ready for pick up or delivered to your business location or shop.
BANKS TO GET THE POS MACHINES
Below are some of the banks you can reach out to for pos machine to start your pos business in Nigeria
i. Guaranty Trust Bank
ii. UBA
iii. Zenith Bank,
iv. First Bank,
v. Access Bank,
vi. Ecobank,
vii. Skye Bank,
viii. Fidelity
ix. Diamond bank
x. Polaris bank etc
Here’s how to apply and get a pos machine from Polaris bank according to polarisbanklimted,
Open a current account with Polaris Bank
Complete the POS request form (you can download from here)
Submit the form to your account officer or the customer service officer at your branch
The POS will be deployed within 5 business days of receipt of request from any of our Lagos branches (allow for 3 additional workdays for a request submitted in branches outside Lagos).
For full content Contact JData: 08065497941
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