First Bank Enlightens SMEs On Leveraging Social Media For Business Growth

First Bank Nigeria Limited has urged small and medium enterprises (SMEs) to take advantage of social media platforms to promote and create content strategies to ensure business growth and success.

This was made known during the FirstBank SME Connet webinar themed: Leveraging Social Media for Business Success: Best Practices and Strategies for Building Your Brand and Growing Your Audience’’ which was recently held in Lagos State.

The founder of Digital Marketing Skill Institute, Tobi Asehinde, urged business owners to utilize social media in growing their brands and also collaborate with big platforms to gain visibility for their brands.

According to him, there is a need for business owners to build a credible brand on social media in order to earn trust.

He named four types of credibility that business owners could leverage their brand to include presumed credibility, reputed credibility (third-party reference), surface credibility (use quality pictures to engage people), and earned credibility.

Also speaking, the Head, of Digital Marketing, at First Bank, Chinwe Bode-Akinwande, urged business owners to nurture the link in the middle of their sales channels by creating quality content that would attract customers to their brand.

She also noted that there is a need for individuals to have a business calendar, choose content formulas, research the latest trends on social media platforms, and monitor the performance of content.

Michael Olanrewaju, Head of Growth, Cashaam, a social commerce platform and marketplace for micro-entrepreneurs, shared three secrets that SMEs could effectively run Facebook Ads on WhatsApp and Amazon.

He said: “So, the first secret to revolutionizing your business is targeting your ideal customer, this means understanding their needs, interests, and pain points and creating the content of your advert that speaks directly to them.

“So by doing this, you will be able to attract more of the right customers to your business.

“The second is optimizing your adverts for conversion, using a particular objective called sales or conversion which involves constantly monitoring and tweaking your ads to make sure they are performing at their best.

“Thirdly, it’s the campaign budget optimisation; when you run out a campaign, you have to set up a budget for your campaign which is the total amount of money that you are going to spend on your adverts”