Steve Babaeko urges SMEs to embrace digital, branding in quest for growth
The CEO, X3M Ideas, Steve Babaeko has urged Small and Medium-Sized Enterprises (SMEs) in Nigeria to inculcate branding, innovation and digital into their businesses in order to unlock growth opportunities in their trade.
Babaeko was speaking at the maiden edition of SME Conference & Expo held at Renaissance Hotel GRA, Ikeja, Lagos recently which was organized to drive brand-centric thinking among SMEs, many of whom are still ignorant about the value of branding. The theme of the event was “Unlocking Business Growth through Branding”.
He explained that it is imperative for SMEs to engage consumers through the digital and traditional media space, adding that social media engagement is cost-effective for startups and it will help create awareness, sales and long lasting consumer engagement with the fast growing social media audience.
He added that branding contributes to the over perception of a brand in the market, and could help to drive differentiation for their product, in a competitive market place.
Similarly, Chizor Malize, Managing Partner/CEO Brandzone Consulting LLC, also a guest speaker at the event, advised SMEs to take advantage of the digital space with relevant content that is engaging. Explaining that engaging content will help them connect with customers and also help them achieve their marketing objectives.
Jide Ipaye, Founder, Keexs disclosed that Social Media has helped transformed his business and many SMEs can take advantage of the digital platform without necessarily adopting the expensive traditional media. He explained that Youtube can serve as Television, Podcast can serve as Radio, and Blogs can serve as Newspaper for SMEs.
Also speaking at the function, Lanre Adisa, CEO, Noah’s Ark urged SMEs to position their brands in a way that it will be accepted by the target market. “A brand is not just a logo, a website, or Business cards, it’s an experience” he stated.
According to the convener of the conference and Purple Pearl Consulting’s MD, Mrs. Bayo-Ajayi, explained that the growth of SMEs will help boost the country’s economy. She, therefore, advised SMEs to look at branding as an integral part of building their business which entails the use of differential logo, packaging, and others.
Also, one of the convener of the conference and Managing Director, Agile Communications, Rufai Ladipo said “The importance of building a brand name to achieve value and equity is so crucial in the ever-expanding competitive SME market; it is on this premise that we believe that looking at brand building beyond just a logo, SMEs’ can fully exploit their position as the engine of growth for the Nigerian economy”, he said.
The conference is the maiden and came at a time when the Nigerian government is focusing more on driving growth within the SME sector through infrastructural support and policy initiatives that could enhance the ease of doing business in the country.
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