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Why Nigeria Dollar Crisis Can’t Stop You From Investing in Business

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Don't let Nigeria's Bad Economy Stop You From Investing In Your Business. Here's Why

Recently, while training a client on WordPress Website Design, I got a debit alert from GTBank for an international transaction (actually it’s just a Retargeting ad I ran last month), I looked at the debit, it was huge.

I opened the calculator on my phone and discovered that the dollar rate had shot up from N339 to N350 per dollar! Whet?!

What am I seeing? My heart skipped!

My client saw the shock on my face and asked what was wrong.

I told him and he smiled.

His next utterance was: “That doesn’t stop you from investing in your business growth. It’s time to step up your game.”

That got me thinking. I noticed that there was never a time my mom went to the market and came back saying things are now cheap.

The cost of everything in the market has always been high and will always be high.

So is the dollar rate. It will keep going up whether we like it or not.

The rise and rise of the dollar has not stopped people from paying for their return air ticket to London (which I learned is about N800,000 naira return trip).

It hasn’t stopped people from eating the choicest food.

It hasn’t stopped people from enjoying the nice things of life.

Therefore, you can’t afford to cut back on your business expenses for important strategies like Advertising, Marketing and Sales.

These are the backbone of any business.

Else, your business will suffer.

What should you do instead?

While your competitors are cutting back on the costs of promoting their business, this is the time for you to shine and be in your target audience faces all the time, no matter where they are.

Fast and consistent wins the race.

Where can you invest your money in?

1. Email Marketing: Experts say that businesses make a minimum of $44 dollars for every $1 spent on email marketing.

2. Social Media Marketing: It has been estimated that the number of people on social media will hit 2.5 billion in 2018. This is a sign that Social Media is not going anywhere soon. It’s time to make your business stand out from the rest.

3.  Pay Per Click Advertising: (e.g. Google AdWords, Facebook ads, LinkedIn ads, etc.): Google says that businesses make a minimum of $2 for every $1 spent on Google AdWords.

4. Search Engine Optimization: Free advertising, but you need to make sure your website is optimized with the right keywords.

5. Content Marketing: Blogging is no longer for food and gossip bloggers. Every business should invest in it if you want to quickly rank high on Google and convert your readers into buyers.

6. Flyers: Don’t underestimate the power of offline marketing.

7. Website Design or Redesign: Your website is your number 1 marketing hub. But is it actually converting your visitors into leads and customers? It’s time to invest in one.

I hope this helps you in making your budget spending decision.

Check out the Top Online Marketing Tools I can never stop spending my money on, no matter the dollar rate.

Like Brian Tracy says: NO EXCUSES!

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Digital Marketing Strategist & Trainer

Caroline Wabara is a digital marketing consultant and trainer with a unique perspective on social media, SEO, WordPress and Content writing. She was introduced to digital marketing in 2008 while doing her masters in Education Administration and has been doing business online ever since. Stay in touch by signing for her digital marketing newsletter

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