How To Get Buyers For ‘Made In Nigeria’ (And measure Success)

 

Not only for ‘Made in Nigeria’ success, experts have identified robust markets –after the necessity of enabling environment – as a key factor in the success of Nigeria’s economic diversification.

Patronage is indeed the heart of every business.

Technology is the sole driver of economic activities in the digital age such that its efficiency is instrumental in a maximum success and vice versa. While in the Made in Nigeria context, the role of e-commerce – as a modern trading system – is as important as the industrialization itself.

Poor data is still the bane of Nigeria’s many failures… Addressing that, the need for effectual e-commerce cannot be less fundamental in the various aspects of ease of trade (at local and international levels), means of measurement for the operational success, and catalog: manufacturers, products, and overall consumers. All this, as a matter of reality, is part of the inclusive importance of an electronic commerce.

On the first scale, e-commerce will:

  • Put local commodities on a modern horizon for unrestrained patronage.
  • Assist in understanding the purchasing choice of the nationals who are obsessed with foreign goods.
  • Create a direct assess for consumers to premium locally manufactured goods.
  • Enhance cashless economy and create burden-less commerce.
  • Reduce the risk of cash transactions.

On the other scale:

  • Facilitate partnership between MDAs, with regards to procurement, and top-notch local manufacturers.
  • Create a date-based profile where development can be measured and necessary actions are taken to ensure sustainable improvement.
  • Bridge the gap between the government and the private investors.

How do we measure the success through e-commerce?

After the livelihood means of understanding economic realities, which is not always definite, e-commerce is one of the effectual tools that serve as KPI for the local manufacturing sector.

How?

With e-commerce, it is easy to know the numerical rate of patronage garnered, so far, by local products. Not only that, products that are less patronized would be accessed – virtual wise – on why and what to do to improve its quality. All this is possible through customers’ feedback from the Internet.

Another important aspect is the compliance by government agencies with the new procurement law. E-commerce will allow, not only the government, citizens to avoid any obscured event.

In conclusion

At this crossroad, electronic ways are pivotal to securing verifiable data and phenomenal business growth in Nigeria.

How should I start my ecommerce business? Pitfalls and guides.

The internet has played a huge role in the revolution of business in this era. Old ways of reaching customers and conducting business operations has evolved over the years. Things have become more automated. Businesses have had to drastically adjust to the new system of running their business, they’ve embraced the fact that it would be a loss to their business to be against this revolution. So while others have successfully adjusted or plunged in to this technology with their business, some have not had that much success. There are also those who are on the brink of joining the train however not so sure what to expect and how to get started. This post would help put this confusion into perspective.

Is going online for my business?

That’s the question some business people ask themselves. Some in this same line include: how can I tap into the resources of the internet? What do I need to get my business online? What can getting my business online bring to my business bottom-line? Before you even start, you should understand the usefulness of the internet and how it can boost your sales. The internet gives everybody a level playing ground. This means you can compete on same level with big giants like Samsung, Sony etc so long as you have your products to sell. If you can convince your customers enough that what you sell is good deal, you can make good sales for yourself. The internet breaks the walls of separation amongst geographical regions- making the world a one global unit. It’s so easy to locate a seller somewhere in China and you have your products shipped to your doorsteps in Nigeria or anywhere in the world. What this means to your business is; whatever you sell can be viewed by anybody in the world wherever they are so long as they have internet connection. Whatever you sell, there are technological applications that help make it easy for you to meet customers online. So to help put this into proper perspective. You want to ask yourself; what do you sell? Who do you intend to sell to? Who are your customers? Are these set of people the kind you can find online? If so, how do you find them online? These questions would help you a lot in deciding if selling online is right for your business and also how best to get your products in front of them.

This leads to the next question:

How much would it Cost to sell online?

To consider online as a medium to expand sales comes with cost. So are you ready for the cost it can bring? There are a lot of things to think about like the skill set needed to managing and running your online store for example. Do you need to get someone else to do this for you? How much would internet connection cost? How much for publicity and promotion of your offers? All these must be factored in when you’re planning your business to go online. Let it be clear to you how much you would spend as fixed and variable costs and see if it is something you can do.  There’s the dilemma of running your own ecommerce store where you put in a lot of resources (Which requires large resources) vs creating an ecommerce store with a store provider where you can promote your products on their marketplace in which some of these online store providers like cokodeal.com, konga.com, vconnect.com etc charge little for uploading items on their platforms but they do huge publicity for their subscribers which help the subscribers make more sales.

Are there other hidden costs? Issues like returns, order cancellations in transactions disputes can be a torn in the flesh for sellers. How prepared is your business to handle and withstand unforeseen situations like these ones? Given it’s your responsibility to satisfy your customers, How far can you go to do that? These are some of the questions to help give you birds’-eye view of how to setup for doing business online.

There are loads of benefits with leveraging ecommerce for your business, however focusing majorly on the benefits without actually having a clear picture on how much it can cost you can lead to serious mistake on the long run. This understanding would help anyone who wants to get their business online to know what they’re getting into.

 

Made in Nigeria goods and how it’s going to impact Nigeria economy

The year opened with turmoil in oil prices, scarcity of foreign currency and Nigerian Naira hitting an all-time low of 300:1 against the United States dollar, and still falling in the parallel markets. Economy is known to be the demand and supply of goods and services across different countries in an inter-exchange system around the world. Nigeria economy is dependent on its trade activities in the global market.

If we can build a robust support around Made in Nigeria goods as an economic driver is going to foster a decline in demand for foreign goods, as Nigerian consumers will source locally for its goods and increase revenue generated from exported goods. This makes more available cash flow within the Nigeria economy. The effect of this, it will not only redirect financial resources to the ‘makers’ but it will give them more impetus to continuously produce and improve their production methods. This leads to demand for more skilled labour to help in production and ultimately creates employment at different sphere of the Nigeria industrial sector.

Members of the apex chambers of the legislature recently visited the Aba trade fair to give their support to a group of industrious Nigerians who have been manufacturing under the most inconvenient circumstances for decades and have gone unnoticed. BBCAfrica.com took notice of Nigerians reaction on twitter, also a Twitter user even sparked a much needed conversation when that twitter user admonished the lawmakers not only to take fancy images with the locally manufactured products BUT BUY THEM AND USE THEM.

The argument that made-in-Nigeria goods are of poor quality is simply because we are not patronizing the manufacturers enough, give them room to make it better. Even China, that is the Mecca or manufacturing today has had its fair share of quality fails – but consistency, support from the Chinese government and eventually, patronage from the world has led them to become one of the largest global economies to date. There is no gainsaying that an increase in commercial activity in the manufacturing and agro-production sector will not only attract more foreign investment into the country, at the micro-level, it will make us a more self-sustaining society and less dependent on imported products from other societies.

My belief is if Nigerians can switch from “American movies” to nollywood, From foreign Hip-hop to Nigerian party jamz, It is infinitely possible to buy Made in Nigeria.

How cokodeal.com intends to help promote made in Nigeria goods.

Cokodeal.com is an ecommerce platform for made in Nigeria goods, the technique employed is to sign up businesses producing in commercial quantity, SMEs, manufacturers and exporters through their umbrella body ; MAN, NEPC, BOI, NEXIM, NASSI etc. Register detailed information of each business and its product on cokodeal.com platform.

Cokodeal.com website is highly optimized which makes it easy for buyers to find offering when searched online easily. Cokodeal understand the art of storytelling, as we use it as a tool to write about, name for example; Nigeria textile industry and share online, this creates a new perspective and picture to the global audience about our unique fabrics.

Lastly cokodeal.com is promoted across West Africa countries and other region through the internet, also through campaigns, trade expos and exhibition. This helps foreigners to understand the availability of a product, in what quantity and where it is located in Nigeria.

How is cokodeal.com different from other platform?

It is solely focused on local production; manufactured goods and agro products, as we do not sell any imported item.

Secondly, it is designed in a multi-platform system that allow businesses in other African country to create their product listing in an interface that is attuned to their country without need for local domain name, it’s all interlinked within cokodeal. Which allows the ultimate goal of intra-Africa trade possible, as buyers from other African countries can find Nigeria products and source for more of it.

Why people should patronise cokodeal.com

Cokodeal.com is synonymous with locally made goods and services, as a wholesale marketplace when you patronise cokodeal.com you are simply building the nation and improving live of its citizens. As the company is a bridge between indigenous businesses and interested buyers. Cokodeal.com makes it easy for individuals and enterprises to source for goods and locate businesses easily within the nation.

More also, it is a secured platform with all activities on the site being monitored to save any transactional risk using the messaging tools and other trade tools created on the platform. Lastly cokodeal does not stop the buyer and seller from meeting each other backdoors, but at their own transactional risk as this could help seller create a lifetime customer.

Challenges in the online ecommerce space

To mention a few; Unprofitability, Card payment processing, Logistics, distrust, cost of internet broadband, literacy level, product quality assurance and clarity on ecommerce focus.

We have to understand some of the challenges itemized are prone due to early days of ecommerce and development of our nation. Most foreign ecommerce passed through similar phase. However, the beauty of it is that challenges like this creates opportunities for the budding entrepreneurs to create more local fit solutions to help ameliorate it. We can mention a few, like the virtual card payment processing created by the banks to support ecommerce like Konga, ACE logistics for local efficient delivery and many more to come.

That said, ecommerce should be able to differentiate on product offering uniqueness, not just on price and be more niche focused for consumers to be able to have clarity on which platform to visit depending on item sourced.

 

Buy Made in Nigeria to save the Naira and the Nation.

For more on twitter @cokodeal #MadeinNigeria #BuyNaijaToGrowTheNaira

4 Smart ways to shop online and not get burned

Hi there, having a great day today? just fondling around the internet i came across a post on nairaland which interests me, it reads “Some Things Online Store Do Which We Don’t Know About”– quite an interesting observation. Often times alot of online buyers get burned by cunning discounts, delievery of fake or inferior products as compared to what they display on their online store or even
sell at higher price more than retailers do  (is internet not suppose to be where to find products cheaper?). Well this calls for some concern doesn’t it? So on this post we will be looking at smart ways to shop online so you dont get burned.

#1.  Doing proper research before placing order

When you pick up a product, the first thing is you want to investigate the product (most times not searching for anything in particular) just to convince yourself enough to make buying decision. In an online setting, researching is what you have to make calculated buying decision online. So what are the best ways to do online shopping research you might want to ask?

Look out for price stamps

Not all price tags have same meanings. If not well understood can cause you make buying decisions you might regret. Your ability to understand what each price tag means can help you make good buying decisions.

Some popular price tags and their meanings

% off

This means a certain amount of percentage has been deducted from the total price of the product. Now when you see this, you want to ask yourself, what is the actual price of this product in the first place? try browsing the price of this product on other sites, compare to see if the discounts reflect; If it doesnt and you still keen on buying the same product and from same seller, you can contact seller for inquiries, talk to them about the discounts and how you want the product, if they could sell at a price you want.

From N

This means, the least amount of price you can see of this product is the one displayed, hence there could be other versions of this products(probably with higher features) which could be of higher price.

Knowing what to buy is key. The specifications, having a price range etc. you must put all these to play.

Under N

Means you can actually see lower prices of this product and its kind starting from the displayed account.

Only N

Means this is the last selling price you can get this product from your seller.

#2.  looking out for authentication stamps if any

The buyers have the money to spend, and are also at higher risk in any online business transactions. That’s why e-commerce platforms make sure they protect their buyers. They put in different ways to help buyer have confidence on who they buy from. Authentication stamps is one of them. When you look at a site like Konga, if you click seller information, you’d find quite some relevant information that can help you know if you dealing with the right business. On cokodeal.com you have customer reviews on every seller page. This reviews are controlled by cokodeal.com not the sellers. Try to read through as much as you can to have a knowledge of what other people’s experience have been with quality of products, price, and warrantee if any.

#3.  Looking out for the product specs

Best practice is to place an order when you are sure of what you want to buy. Even if you weren’t sure from the start, make sure you walk yourself through the rigor of researching what to buy, and then come to final decision before browsing through the online shop for what you want to buy, else you’d be more confused and probably end up with a wrong decision.
A good practice is to know what you want to achieve with whatever product you want to buy.

#4.  Looking out for the little details

Little details can hurt us far deep. Most times we are too eager to click that ‘buy’ button that we forget to pay attention to little details. Some of these details include: Buyers protection, refunds, terms and conditions, how many sales the seller have made, how long the seller has been selling, How responsive is the seller to inquiries? Is the platform a stand-alone or hosted e-commerce platform?

Your research work should be such that you can be convinced enough to buy, if peradventure you still not convinced, you need not jump into placing any order.

How to sell your products online; choosing the right online store platform for your business

If you have a product and looking to get customers through the online medium, having an online store is a very good option. Knowing fully that having what to sell is not enough- but knowing where to sell what you have is equally very key to online selling success. So, how do you know what E-commerce platform is perfect for you?

We help you take this into perspective, by asking two important questions to help you make the right decision.

What do you want to sell?

Considering what you want to sell in deciding where to sell your product is very important. Your products would choose its customers and its ideal market. There are online platforms where selling fashionable clothes or shoes would be an ideal place to sell. For example, if you’re a small scale farmer who is looking to creating an online store to promote your agric produce to get more customers, selling on cokodeal marketplace would be ideal as it is a place where business people would search for products like yours as compared to selling on a platform like konga.com where majority shop for things like fashion and electronics.

An advice for you is to look at what you sell. Investigate different platforms to see the kind of products people go there to buy, this can help you have a hint if the platform is ideal for your business.

Where do your target market source for businesses like yours?

When entering any particular business, you want to do a market research- study your target market. Perhaps the reason would be it would help you know what they want, how to give them what they want and where to give them what they want.

Knowing your target customers go-to place to shop for products like yours would help you know where to set up your online store. When it comes to a c2c platform, you know Olx would work for you. People would go to platforms like cokodeal marketplace to source for local manufacturers in Nigeria than go to online sites like Olx or jumia.

By putting these points into proper perspective, you can be able to gain insight as to where is ideal for your business to start selling online.