DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 6214

Deep Marketing Is The Next Big Thing

0

Before a salesman closes a deal, he must have made the product seem interesting to the customer, that this product can solve real problems, last for long enough not to spend on it every second of the day. The process of making the product to look this much valuable to the customer is called marketing. This takes two kinds of approach, either the old method or the new method; let’s discuss. 

Old Method; The Big Man on Tv, Radio and Newspaper:

This has been for the Open Market, Print, Radio, and then Television. It used to be the hottest medium of marketing. Once you see the Coca Cola Logo on the Tv, you know it is about to go down. 

Everybody wished they could be on television, or be announced on the radio and if by almighty grace, they should be on the newspaper because Mr. President may get to read about them; blown!

Well you can see that today, there are lots of changes on how marketing is being done. It is no longer about the medium because anybody can design logo and advertise freely on search engines; Google, Yahoo, Bing and Social media platforms; Facebook, Instagram, and even Tiktok. It is now about the What and Who, not majorly about the How.

What are you marketing, does it have value? Can people sort for you without pressure, such as freedom from intrusive ads. 

Who are you marketing to? Are these people your real target audience, who will be needing your products or you are just throwing the ads all over the internet for lucky hunting.

The old method may get you to many fronts, but will not gain you any or low attention. It may actually cost you the attention of your already existing customers by driving them away, showing you are too desperate or annoying. You don’t want that right.

This calls for the next and better phase of Marketing;

New Method; The Soft Marketer Buying your Time with Your Consent: 

This marketer knows very well that, almost every marketing enthusiast, thinks that marketing is all about the old method and then the new method which is digital marketing. And that the new method is all about ads and seeking for attention forcefully. You know that in a day, once you open Youtube, Instagram or Facebook and even Google to browse, amidst a few lines of search you are greeted with one ad or another. This ad is simply seeking for your attention, which on a norm, you never want to see it. 

The advertiser simply thought that he was really getting your attention by registering his brand in your memory. So that you will remember them when next you intend to buy a bottle of soda, you will choose a bottle of coca cola. 

Sincerely, do you remember any of those ads when making the choice of what to buy? 

The answer is likely, No.

Then why they keep pushing these things to your face!

Even the technologist also understood this issue, and they developed ad blockers. Lol !

DEEP MARKETING: Now let us discuss about you reading this article. You read this article to this very point, because you want to learn the next big thing in marketing right. I am not forcing you to read or wait for the next line. It is called Deep Marketing. No forcing, no pressure, no intrusion, it is simply your choice. That is what the next phase of marketing will be like. 

To achieve great success in this method of marketing, there are parameters or tools to use such as;

C.A.T.T.: Content, Attention, Trust, Transaction.

Content: To buy the attention of people, you need to start working on developing your content marketing skills. Or employ good content creators. In recent years a content writer may think that their time is fast elapsing due to the switch to videos, images and all. No, there is no switch. Content is still the king, you just need to create what people want to read, but maybe they never thought it was possible to communicate via words. Create content that you will use to pass quality information with the genuine interest to help and not expect anything in return.

That way, you are ready for the second phase.

Attention: If it will add value, it will gain attention. You read contents on Tekedia.com, because it adds exceptional value to your daily business and some personal life decisions making processes. Well, that is what genuine and helpful content does in marketing, in other words called Deep Marketing

Now you have your audience’s attention, keep getting creative, research according to their interest, but do not leave your original message outside the window, just so you can satisfy your audience, else you will end up not achieving anything tangible. 

Market value, with genuine interest to help; it will draw attention, then keep evolving with trends, innovating with crest and keep to your promise to deliver.

Do not over promise, so that the next phase will be great.

Trust: a marketer who has your trust, can make you buy into almost everything he is selling. But developing this trust is usually difficult, that is why when you build it through Great Content, that brought you their Attention, that you have been able to retain through value aiding provisions, you would never want to lose it right.

Once this trust is achieved, you are ready for the final phase.

  • Customer trust can thrust you and your business to the climax of every vertex of success, if well managed. By Chidiebere Moses Ogbodo.

Transaction: If you could have one thing at the end of every hustle, hard work and time spent building a brand, that is not just a fancy logo; it is to be able to make sales.  Hard work pays, but it comes in either two ways;

  • Relationships that translate into sales or 
  • Sales that develop into healthy relationships. 

At this stage, please and please, do not over do! Not because you are an expert marketer, you create awesome content, gain and retain attention, thereby building trust, that you will now want to play around with the price for your transaction.  

Do not waste your customer’s time with a price game. Or presenting what you cannot guarantee its quality.  Sell what you know, and can vouch for. It saves energy to explain history.

Rather, if you want to make more money from your sales without losing your hard-earned customers’ trust, then it’s usually better to ask your trust-oriented client what they think is a good price for the product. They may end up giving you a higher price than you would have ever offered. And in the case they offer less, check if your product is actually of lesser quality and maybe you have it in large quantity. You can compensate for the loss in one with high gain in another (same model that Shoprite could have used in Nigeria), you will definitely build partners and not just customers. 

Deep marketing is the next big thing. This model is like a refinement of the High Touch Business Model.  People want some emotional connection now, to their seller, rather than just buying and leaving your store.  If done right, audience/customers turn to partners and partners have many other friends, so they will help you survive, and thrive sustainably in any market. 

I hope I have marketed my thoughts deeply? And you are ready for the next big thing.

Thank You – Nigerian Society of Engineers

0

It is always memorable: my professor came out of the building, on a  sunny Friday, congratulating me that my undergraduate project defense was successful. He said, “congrats Nd, now, you are an engineer”. On that, we at Tekedia Institute welcome the Nigerian Society of Engineers which is sending a huge contingent to Tekedia Mini-MBA which begins Aug 10. We are truly honoured that NSE chose us. Thank you – the technical builders of the Nigerian nation.

https://www.tekedia.com/mini-mba-3/

A Brilliant NCC Position On USSD Pricing in Nigeria

0
NCC HQ

Good policy from the government. You know I am biased when it comes to  the Nigerian Communication Commission (NCC). I do think it is the most effective public agency in Nigeria. Check – they always have brilliant leaders. They have a really good process – and they listen. This is another good one, and I think NCC needs to be commended for listening. If a bank does not want USSD service, telcos are free to cut it off. But if it wants, then, it needs to pay the telcos for the service. But never should customers be asked to cover that cost directly when the same banks will tell you to use digital channels. You get it – banks might introduce another monthly charge; that is fine. But as it stands, customers are not paying directly.

The USSD channel has evolved over time from a telco-exclusive channel used for only telco services such as balance inquiry and recharges to a channel for the deployment of a broad spectrum of services, including financial, insurance, agricultural, government services and more. The use of USSD channel has become a critical resource in the economy even more so in this era of the Covid-19 pandemic that has witnessed a rise in reliance on digital services.

The Executive Vice Chairman of the NCC, Prof. Umar Garba Danbatta, in the interest of the consumers and other stakeholders, has revised the Determination previously issued by removing the Price Floor and the Cap to allow the Mobile Network Operators and the banks negotiate rates that will be mutually beneficial to all parties concerned.

The NCC also determined that Mobile Network Operators must not charge the consumers directly for the use of USSD channels for financial services in the form of end-user-billing. The transaction should be between the MNOs and the entity to which the service is provided (i.e. Banks and Financial Institutions).

Nigerian Communication Commission (NCC) Reverses Determination on USSD Pricing

Nigerian Communication Commission (NCC) Reverses Determination on USSD Pricing

1

In July 2019, the Nigerian Communication Commission (NCC) waded into a dispute between telcos and banks, over Unstructured Supplementary Service Data (USSD)’s pricing. Banks and telcos had increased the charges on transactions carried out using the USSD channel, and it didn’t augur well with consumers.

As consumers protested the increment, the regulators of banking and communication industries ordered a reversal of the added pricing on USSD.

“After receiving briefing about the proposed USSD charges, I realized there was no justification for the new tariff and consequently, I directed its immediate suspension. Any telecom operator that violates this directive would be sanctioned appropriately,” The Minister of Communication and Digital Economy, Dr. Isa Pantami said then.

The CBN governor, Godwin Emefiele told the banks then that the charges incurred using the unstructured supplementary service data is sunk cost and would not be allowed to happen.

“I have told the banks that they have to move their business, move their traffic to a telecom company that is ready to provide it at the lowest cost possible, if not at zero cost. And that is where we stand, and we must achieve it,” he said.

Based on these directives, the proposed additional USSD charges were quashed, even though the telcos protested.

However, over one year after the directive was given; the Commission has made a turnaround to allow the industries’ players to decide how much is paid and who is paying.

In a press release signed by NCC’s Director of Public Affairs, Dr. Ikechukwu Adinde, on Wednesday, the Commission announced that it is reversing its directive restricting mobile network operators from implementing increased charges on transactions executed through USSD platform.

The Nigerian Communications Commission, in furtherance of its mandate to protect the interests of consumers and support a robust telecommunications sector, has revised its Determination on Unstructured Supplementary Service Data (USSD) pricing published on the 23rd of July, 2019.

The amendment was necessitated following a protracted dispute between Mobile Network Operators and Financial Institutions on the applicable charges for USSD services and the method of billing.

As a responsive and effective regulatory authority, the Commission recognises that its policies are not static and may be modified from time to time as circumstances demand.

This is coming on the heels of a recent directive by the Hon. Minister of Communications and Digital Economy, Dr. Isa Ali Pantami, regarding a review of the USSD pricing by all parties involved, following a presentation made by the Commission on the billing structure, determination of USSD pricing, current status and the way forward.

Speaking during the presentation, the Minister stated that he took the decision to suspend the commencement of end-user billing (where the consumers are charged directly from their airtime balance for use of USSD channels as opposed to corporate billing where the banks paid the MNOs for the use of USSD service) because he was “genuinely besieged with a barrage of complaints at the attempted commencement of end-user billing by service providers.”

The Minister also clarified that “USSD is a service to banks and not to the Telecom Consumers, and as such, banks should see themselves as corporate customers of telecom operators with a duty to pay for using the telecom network and infrastructure, including USSD channels extended to them for service delivery to their customers.”

According to him, “Mobile Network Operators (MNOs) have no direct relationship to bank customers, and cannot, therefore, charge directly for usage of USSD channel.”

The USSD channel has evolved over time from a telco-exclusive channel used for only telco services such as balance inquiry and recharges to a channel for the deployment of a broad spectrum of services, including financial, insurance, agricultural, government services and more. The use of USSD channel has become a critical resource in the economy even more so in this era of the Covid-19 pandemic that has witnessed a rise in reliance on digital services.

The Executive Vice Chairman of the NCC, Prof. Umar Garba Danbatta, in the interest of the consumers and other stakeholders, has revised the Determination previously issued by removing the Price Floor and the Cap to allow the Mobile Network Operators and the banks negotiate rates that will be mutually beneficial to all parties concerned.

The NCC also determined that Mobile Network Operators must not charge the consumers directly for the use of USSD channels for financial services in the form of end-user-billing. The transaction should be between the MNOs and the entity to which the service is provided (i.e. Banks and Financial Institutions). A copy of the Determination is available on the NCC’s website, www.ncc.gov.ng.