How to make your marketing work (III)
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- Category: SME toolkit
- Written by with Bridget
- Hits: 1709
What we are going to be discussing today was what Otunba Gaddafi, the CEO of Mobile Toilet, did some years ago and today he sits atop a multi-billion naira business selling us products and services that many of us would never dare venture into. The point is, there is power in understanding the true meaning of marketing. Isaac Durojaiye, also known as Otunba Gaddafi, conceived Dignified Mobile Toilet (DMT) as a commercial enterprise that produces, hires out and maintains safe, sanitary, portable toilets.
What triggered Otunba Gaddafi’s passion? Isaac Durojaiye is a big man. One can understand why he was employed as bodyguard to the late Chief M.K.O. Abiola. DMT Toilets came about as a result of a request from Chief M.K.O. Abiola, who wanted to have a large celebration for his son and charged Durojaiye with the task of organising security. Durojaiye immediately noticed the lack of toilets at the venue and found that no toilets could be hired in Nigeria for such occasions. In fact, there were hardly any to be found anywhere in the region. He successfully fabricated a prototype which was successfully used at the function and the rest is now history. DMT’s guiding philosophy is “Shit money doesn’t smell.” I wrote about this Nigerian genius a few years ago in one of my books, and as at 2005-2006, his business was worth half a billion naira. DMT’s plan is to reach every part of Nigeria and beyond with his model of Dignified Mobile Toilets.
1. What are you selling? What is your product all about? What needs are your product meant to solve? When you are able to answer this question, it will help you to know who will buy your product. Like I advised low margin product sellers the other day, if you are selling razor blades, then, who are those that need your product? As a smart entrepreneur, you will locate your business close to abattoirs, restaurants, and so on, because these people need razor blades to shear their slaughtered rams, goats and cows.
2. Who will be willing to buy your product? If you are in business and you do not know who needs your products or services, you won’t know how to reach them then. For instance, when I started offering consulting services, I discovered that many multinationals and established businesses wouldn’t need my services. I also discovered that my write-ups would make more sense to SME owners than to multinationals. And today, even though I have done a few jobs for big companies, my target market remains the SMEs. And you know what; this sector is 65% of the economy? For me, I know what needs SMEs have, and I am working and studying to apply simple business principles and practices to positively affect the fortunes of SME owners.
3. Where would they be willing to buy from you? Or where do they need it? This is important. You can’t sell certain products in some places no matter how need-filling the services or products are. For instance, microfinance services wouldn’t sell in Maitama or highbrow Abuja city. Neither will pure water sachet be found in big hotels like Sheraton Hotel. Why? These places are not the right places for such products. Your customers are not there. As a smart entrepreneur, locate your business or take your products/services to the place where your customers can be found. It is only then you can be sure of making good sales and achieving your financial and business objectives.
4. When would they want to buy it? You need to understand that this is very important too. When you go to some local markets in the night, that is when some restaurants open for business. You find such places under lock and key in the day only to be brisk with business in the evenings or nights. Such businesses like Barbing Salons, some restaurants, etc, open at specific periods of the day. You need to know when your customers need your product. Is it in the day, afternoon, night, etc? As exclusive as Lekki and Victoria Island are in Lagos, as early as 5.30 – 6 am in the morning, you will find bread, local herb, tea and food sellers attending to the needs of the labours, foremen and blue-collar workers in these urbane and upmarket parts of Lagos.
5. How do they want to buy it? Do they want to buy your product raw, fresh, dried, smoked, packaged, or do they want your service to be fast, reliable, high quality, cheap, slow, discounted, mass price or premium price? By knowing this, you will provide the right product at the right place at the right price and through the right promotional channels.
6. How much do they want to buy it? Your price is one important factor to consider in marketing. It must be justified against the background of the services you offer. If you charge premium price, then your product or service must be of the highest quality, with good customer service and other benefits like warranty, etc.
7. Why would they be willing to buy from you? This is also very important. Why would your customers leave every other person and come to you. This is what is called unique selling proposition (USP). Every business must develop its own USP in other for it to enjoy greater competitive advantage in the marketplace.
8. How can you reach them? When you know your product, your customer, what they need, how you can meet that meet, when and where you can meet that need, how you should sell to them, how much you should sell to them, then the next important move is to determine how you can reach these customers. This involves determining how you can reach them, whether through word of mouth, pamphlets, posters, fliers, television, radio, adverts in newspapers, open market access, specialised market access, internet and so on.
By the time you have answered these questions, you would have had a strong marketing plan in place, capable of translating your marketing objectives into reality. The consequences of low sales are grave, so to remain in business and enjoy the fruits of your labour, knowing how to market and investing in the acquisition of marketing information and knowledge will distinguish your business in the marketplace sooner than later.
Articles
How to make your marketing work (III)
Category: SME toolkit Written by with Bridget Hits: 1709
The need to know what marketing is is very important to the success of your business. You do not need to have an MBA in Marketing to be able to draw up a simple marketing plan or identify certain fundamentals that are key to the success of your marketing efforts.What we are going to be discussing today was what Otunba Gaddafi, the CEO of Mobile Toilet, did some years ago and today he sits atop a multi-billion naira business selling us products and services that many of us would never dare venture into. The point is, there is power in understanding the true meaning of marketing. Isaac Durojaiye, also known as Otunba Gaddafi, conceived Dignified Mobile Toilet (DMT) as a commercial enterprise that produces, hires out and maintains safe, sanitary, portable toilets.
What triggered Otunba Gaddafi’s passion? Isaac Durojaiye is a big man. One can understand why he was employed as bodyguard to the late Chief M.K.O. Abiola. DMT Toilets came about as a result of a request from Chief M.K.O. Abiola, who wanted to have a large celebration for his son and charged Durojaiye with the task of organising security. Durojaiye immediately noticed the lack of toilets at the venue and found that no toilets could be hired in Nigeria for such occasions. In fact, there were hardly any to be found anywhere in the region. He successfully fabricated a prototype which was successfully used at the function and the rest is now history. DMT’s guiding philosophy is “Shit money doesn’t smell.” I wrote about this Nigerian genius a few years ago in one of my books, and as at 2005-2006, his business was worth half a billion naira. DMT’s plan is to reach every part of Nigeria and beyond with his model of Dignified Mobile Toilets.
1. What are you selling? What is your product all about? What needs are your product meant to solve? When you are able to answer this question, it will help you to know who will buy your product. Like I advised low margin product sellers the other day, if you are selling razor blades, then, who are those that need your product? As a smart entrepreneur, you will locate your business close to abattoirs, restaurants, and so on, because these people need razor blades to shear their slaughtered rams, goats and cows.
2. Who will be willing to buy your product? If you are in business and you do not know who needs your products or services, you won’t know how to reach them then. For instance, when I started offering consulting services, I discovered that many multinationals and established businesses wouldn’t need my services. I also discovered that my write-ups would make more sense to SME owners than to multinationals. And today, even though I have done a few jobs for big companies, my target market remains the SMEs. And you know what; this sector is 65% of the economy? For me, I know what needs SMEs have, and I am working and studying to apply simple business principles and practices to positively affect the fortunes of SME owners.
3. Where would they be willing to buy from you? Or where do they need it? This is important. You can’t sell certain products in some places no matter how need-filling the services or products are. For instance, microfinance services wouldn’t sell in Maitama or highbrow Abuja city. Neither will pure water sachet be found in big hotels like Sheraton Hotel. Why? These places are not the right places for such products. Your customers are not there. As a smart entrepreneur, locate your business or take your products/services to the place where your customers can be found. It is only then you can be sure of making good sales and achieving your financial and business objectives.
4. When would they want to buy it? You need to understand that this is very important too. When you go to some local markets in the night, that is when some restaurants open for business. You find such places under lock and key in the day only to be brisk with business in the evenings or nights. Such businesses like Barbing Salons, some restaurants, etc, open at specific periods of the day. You need to know when your customers need your product. Is it in the day, afternoon, night, etc? As exclusive as Lekki and Victoria Island are in Lagos, as early as 5.30 – 6 am in the morning, you will find bread, local herb, tea and food sellers attending to the needs of the labours, foremen and blue-collar workers in these urbane and upmarket parts of Lagos.
5. How do they want to buy it? Do they want to buy your product raw, fresh, dried, smoked, packaged, or do they want your service to be fast, reliable, high quality, cheap, slow, discounted, mass price or premium price? By knowing this, you will provide the right product at the right place at the right price and through the right promotional channels.
6. How much do they want to buy it? Your price is one important factor to consider in marketing. It must be justified against the background of the services you offer. If you charge premium price, then your product or service must be of the highest quality, with good customer service and other benefits like warranty, etc.
7. Why would they be willing to buy from you? This is also very important. Why would your customers leave every other person and come to you. This is what is called unique selling proposition (USP). Every business must develop its own USP in other for it to enjoy greater competitive advantage in the marketplace.
8. How can you reach them? When you know your product, your customer, what they need, how you can meet that meet, when and where you can meet that need, how you should sell to them, how much you should sell to them, then the next important move is to determine how you can reach these customers. This involves determining how you can reach them, whether through word of mouth, pamphlets, posters, fliers, television, radio, adverts in newspapers, open market access, specialised market access, internet and so on.
By the time you have answered these questions, you would have had a strong marketing plan in place, capable of translating your marketing objectives into reality. The consequences of low sales are grave, so to remain in business and enjoy the fruits of your labour, knowing how to market and investing in the acquisition of marketing information and knowledge will distinguish your business in the marketplace sooner than later.