Marketing Strategy CASE STUDY: How One Nigeria Company Generated N86,600, 000 in less than 60days despite the ‘Harsh’ Economy (& How you can steal the exact marketing strategy)

Case Study: How One Unkown Nigeria Company Generated N86,600,000 in Less Than 60days (& How To steal The Exact Marketing Strategies)

Do you want to explode your business in the quickest time possible?

I’m going to share a fantastic marketing strategy with you today.

It’s the same marketing strategy that generated over N61 million naira for a Nigeria company, and additional 25 million naira, making a total of 86milliin naira.

The good thing is that I’m also going to be showing you how to use it in your own business.

Yes, you get to use this same digital marketing strategy in your business but promise me that you going to share your result with me, will ya?

You see…

It doesn’t matter what you sell or the type of business you do, the size of your company doesn’t matter, big, medium or small, this digital marketing strategy works.

Growing a business or company is hardwork and if you don’t know the heck of what you are doing, it becomes even harder.

Do you know how many businesses fail in a year both in Nigeria or other part of the world?

The number is crazy.

Anyway, I did a quick research and guess what?

According to Forbes 8 out of 10 business fail every year.

In Nigeria, only 20% of businesses survive.  I mean growing a business is very hard but I think it is even harder in Nigeria.

I can count atleast 20 companies that I know existed in the last 3years but are now dead, completely. Just in under 3 years.

As a business owner, the major thing you need to remain on the part of growth consistently is revenue.

If you don’t have consistent revenue, you don’t have a business  but fear nothing because I’m going to be showing you proven growth hacking strategies that you can apply to your company right here in Nigeria (or anywhere in you are in the world).

Now, let me go back to the 61 million naira case study.

The Challenge Before the company

First and foremost, this is a case study of one of our amazing clients who runs one of the fastest growing real estate companies in Nigeria.

Chances are if I mention their name, you’ll know them but they don’t want me to mention their name because they don’t want their competitor to know all the strategies we developed and deployed for them.

Anyway, lets respect their privacy and just call them Regency Realtor.

So, the company got a bank facility to erect 22 (3 bedroom) apartments. They secured a loan from the bank to erect a massive ‘state of the art’ edifice here in Lagos.

If you see the place, you’ll love it. I did when I saw it.

They tried to rent out the place for an annual fee of N700,000 per month for each of the 3bedroom apartment but there was a problem.

Nobody was willing to offer that amount. All you hear these days is that the economy is hard. Workers are losing their jobs.

Companies are folding up!

The highest offer they got was N500,000

The people kept saying ‘the economy is harsh. There’s no money anywhere’ and boy the people were not lying.

The economy isn’t laughing at all.

So, naturally, my client was worried because the bank loan was ‘reading’ and interest was beckoning.

Nobody wants to mess around with any Nigeria bank. It is easier to jump from a 20ft container than to fall into the ‘soup’ of  any Nigeria bank.

Anyway, It was at this stage they reached out to us for help.

When we got working together, the first thing  I told the CEO and his team is that ‘people don’t want to rent a house, they want to rent a home’.

There’s a BIG difference.

The first thing we did was to change their offer and made it irresistible.

One of the major reasons businesses don’t make any headway in their marketing is because they don’t have irresistible offer.

If your offer is irresistible, the customer will feel stupid not to take you up. He (or she) won’t forgive himself (or herself)

When I say ‘people don’t want to rent a house, they want to rent a home’. That is what I meant.

So, what exactly did we do?

We helped them turn their ‘product’ into an ‘irresistible’ offer that they can’t say ‘NO’ to. It’s the reason why Iphone, Tesla and other big brands are what they are today.

The good thing is that, it doesn’t matter what you sell, you can actually make your offer  very tempting. We have done this in more than 20 different market and they worked very, very well.

Ok, let me give you a quick example.

Let’s say you are selling Lamborghini and your competitor is selling the same car.

However, your competitors offer is like this…

‘Once you buy a Lamborghini from me, as a bonus, you’ll get I year oil change, 50 liters fuel monthly,1year free service and  a brand new Toyotal Camry’

Guess what?

If that is your competitor’s offer, he will quickly get you out of business because while you are selling commodity, he is selling an offer. People buy offer, not commodity.

That was exactly what we did, we turned this company’s product into an offer, I mean an irresistible offer.

So, we worked together and turned the place from a ‘house’ to a ‘home’ by adding furniture, TV sets, power plant, security (as a bonus for everyone who rents the house) everything to make the place look like a ‘presidential palace’.

Once the offer is properly created, the next thing to do was…

Raise Your Price.

People are always scared of raising their prices.

The truth is, it is easier to build a multi-billion naira businesses when your prices are high than when they are not.

Take a look at Tesla. They generated over N14 billion naira in few weeks because their price was high. Apple doesn’t sell cheap stuff.

The point is, the quickest way to reach your revenue goal is by raising your price. It’s a proven fact. It’s the reason Donald Trump is a billionaire.

Anyway, this real  estate company now have an irresistible offer, it was time to raise their price because they were offering a better ‘deal’ than their competitor.

We have helped them develop an irresistible offer instead of just a ‘commodity’.

Sure, some people will naturally say “NO” to you and there’s nothing wrong with that but few people will say “YES’ and you need ‘few minority’ to grow your brand.

So, our client  was reluctant to do this at first but I ‘forced’ them. We ‘forced’ them to raise their price.

Immediately the house was equipped properly (& turned into a home), we raised the yearly rent fee to N1.4Million and people were expected to pay for 2years (there’s a reason for insisting on 2years)

Naturally, my client was screaming ...

‘Johnson, NO! We are unable to get clients at N700K, you are insisting we make it N1.4M,That is 2.8million?’

See, I’m know sure how long you’ve been following us but if you have followed us for long, you’ll know that we are a very strategic people.

That is why people call me Africa’s #1 Business growth and marketing strategist. I’m a growth strategist.

I look at every business differently. When I look at a business, I can pinpoint between 6 to 21 profit centers that is hidden within that business.

It’s my gift. It’s my calling, that is why I do it with a lot of ease.

Anyway, something very interesting happened the moment we asked our client (Regency Realtor) to raise their price  to 1.4 Million naira per month instead of just 700,000 naira but I will tell you about that in a minute, for now, let me tell you the next thing to do.

Ask them to pay you even more money

I know what’s on your mind…

‘Johnson is a very greedy guy!’

Correct?

No, I’m not. I just want to ensure that your business doesn’t fail and that you are tapping the maximum money you need to get.

Anyway,let’s face it, if someone can pay you N1.4 million for two years, that is 2.8million naira at a go, they can even pay N5million for a related product, correct?

As a business owner, the more money you can drive into your business, the better for your business.

If your customers are not complaining that you are getting too much money from them, why should you be the one to complain?

If you think you are giving them maximum value for their money, by all means, ask for more money.

If your competitor drives more money than you, they will ‘lord’ you in your market and you don’t want that.

So, ask for more money but how do you even do that in a ‘non salsy’ way?

My marketing theory is simple.

‘If they can pay $1, they can also pay $10’.

I’ve had the rare privilege of working with businesses around the world including countries like US,Canada,Saudi Arabia,UAE,India, Singapore, Ghana,etc, this theory has been proven right ALWAYS.

So, determine the customer’s life-time value.

The Customers LTV is simply the maximum amount of money you can mark from a particular customer within a specific time.

So, if you own a restaurant for example and every day, a customer spends N500 on your business.

Which means, in 12 months, the person will spend N180,000 on your business.

So, the customer’s life time value for 12 months is NOT N500, instead, it is N180,000.

Many business owners don’t know this. They don’t do the maths.

Can you see how powerful this is?

Once you know that a customer can spend up to N180,000 in your business within 12months, you can then go ahead to spend even up to N50,000 (within 12 months) on advertising to acquire that customer.

So, you spend N50,000 to acquire a customer who will pay you N180,000, and you have a revenue of N130,000 as ‘pure’ profit.

I hope this makes sense to you?

Most businesses just spend money on advertising without first knowing the LTV of the customer so they can be informed when spending money on ads.

Anyway, let’s go back to my client’s story.

So, I told him that if someone could pay 2.8 million naira within a 12months period, they can pay another 5 million for similar product.

So, instead of asking for just 2.8million naira, maximize your REVENUE by asking for atleast, N7.8million.

Listen again, don’t be the one to complain, let the customer do the complaint and you listen.

I asked them, what other things can we sell aside the house rent and guess what they told me…

‘Nothing!’

I shot back ‘nothing?’

And they said ‘Yes, Johnson, nothing!’

I see this kind of responses from business owners ALWAYS.

When I pressed my clients further, we were able to get an additional product they could sell to people who paid the 2.8 million naira rent.

So, we decided to offer land sales within an estate for 5million naira.

So, if you can pay N2.8 million to rent a house for 2years, you should be able to pay 5million naira to own a land of your own within a super 4star estate.

The best part is that you can pay this 5million naira within your 2year stay in the 2.8million naira apartment.

You get it?

And ‘once they take you up on that offer, you can make several other offer to them like building the house for them since you are a real estate company and many more’, I said to them.

We discovered that our client’s customer LTV for 2years was a minimum of 7.8million naira. Once that was established, we then…

Create highly targeted digital advertisement to reach their audience.

Once we had irresistible offer, knew the ‘numbers’ of our clients, we went to work immediately.

 Created a highly targeted digital marketing campaign that brought people in. We knew that we can make up to 7.8 million naira from every occupant of the house within 24months, we can spend 500K to get each person.

Make sense?

One BIG shift can dramatically change your entire business.

Guess what happened?

It didn’t take up to 2months, each of the 3bedroom apartment was taken, the entire 22flats.

That is cool N61,600,000 made in less than 2months.

Now, there’s even something more interesting.

5 of the 22 people who paid 2.8 million naira for the yearly rent took up the 5million naira offer that we created.

That is a total of  N86,600,000 instead of just that N61,600,000.

Does additional ‘effortlessly’ 25 million naira make any sense to your business?

I’m 100% certain that more people will take up the offer in the coming months.

Growing a business is pretty straight forward if you understand marketing. Most people suffer because they don’t know how marketing works.

What would have happened if we didnt insist on raising the price, and even insist on 2years?

What would have happened if we didn’t create the offer of 5 million naira?

You want to know?

Instead of generating N86,600,000, my client would have made just 15,400,000 naira leaving 71,200,000 (and other monies in the pipeline) on the table.

If you want to win BIG in business, you need a sound marketing strategy. I mean a growth focused strategy.

Now, I need you to leave whatever you are doing right now, take a pen and paper and create an irresistible offer, then raise your price by adding another zero to your current price, launch a digital marketing campaigns so that people can come buy what you’re selling.

The company with the best digital marketing strategies will ALWAYS win.

I’m very curious, how are you going to use this strategy in your business? Leave your comment, question or concerns below, I’ll do my best to provide answers or reply.