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Most Nigerian SMEs not well positioned to attract funding – Olatunde

Africa businesses must leverage technology to upscale – Olatunde

Samson Olatunde, founder, Knowledge Digest Africa and Digital CEO Tribe International, spoke about the Nigerian digital marketing ecosystem and how small businesses can leverage digital learning and tools for sales growth and optimum performance. Excerpts by SEYI JOHN SALAU:

You recently launched a new digital platform called Knowledge Digest Africa. What is this all about?

Knowledge Digest Africa is a data bank for African businesses to expand their capabilities with the aim to help professionals draw a pool of information to generate massive market trends and bridge resilience. Everyone in this world needs refined knowledge and innovation to live and make an everlasting impact and the knowledge ecosystem platform aims to educate and inspire business leaders and youth on the shore of Africa.

Knowledge Digest Africa is an online learning platform that has different pillars which are called the 5M’s (Mandate, Masterclass, Mentoring session, Marketplace, Membership subscription), conferences and so on. Knowledge Digest Africa mandate, is a one-stop digital knowledge bank platform that seeks to educate and empower one million African business leaders and enrich professionals with substantial and up-to-date careers in entrepreneurship and technology know-how for wealth creation.

The masterclass pillar of the platform is to show many Africans practical wealth-creation ideas, opportunities and skills that exist online and offline. The Mentoring series is more of an exclusive weekly interview with captains of different industries who have done over 20 years in the business ecosystem. The uniqueness of knowledge Digest Africa is the digital Marketplace where lots of African writers can sell their knowledge products like e-books, podcasts, online courses and others. Knowledge Digest Africa platform has an array of online meet-ups, conferences and many benefits for those who sign up for Membership to be part of Africa’s community of Digital Savvy Professionals.

There is a need for disseminating knowledge on entrepreneurship, technology and business solutions so that young ones can read resource materials at their own pace. The 5 M’s component of this platform gives endless possibilities to Africans. It’s a platform built by African for Africa business solutions. Knowledge Digest Africa Platform will further help businesses to stay longer than their founder, I, urged businesses to seek information, innovation and places from knowledge data banks that can help them develop products to solutions. So with this information you can see ways to reduce cost, improve market delivery and bring other people’s expertise you do not have on your own.

Nationally, what is the missing link in the branding sector?

What is missing in the branding sector is the right networking platforms – a system where brand professionals with shared opinion can network and gain knowledge continuously. Perhaps, I would say creating a well-known professional networking platform is one of the mandates of Digital CEO Tribe, a community of Digital savvy professionals in Africa and Knowledge Digest Africa platform, a one-stop Africa Knowledge bank platform for business leaders and professionals to learn, relearn and unlearn about related topics on branding, future of work, and marketing.

Read also: Ogun boosts SMEs with N1bn grant distribution to 3,350 operators

From your perspective as a digital marketer and entrepreneur passionate about building global brands; what is a growing brand?

A growing brand is one that is dedicated to learning, testing, re-testing and improving constantly to achieve its vision and mission. A growing brand is or should not be afraid of failure; rather, turn failure as a learning opportunity. In the world of digital marketing, a growing brand experiments a lot.

As a digital marketing expert how do you help your clienteles turn their businesses around?

This question is likely asking one to divulge the secret or unique selling point of one’s businesses. I will answer it this way: I take enough time to understand the businesses of my clients; do extensive research and provide much-appropriate digital solutions.

What are those things business executives must begin to understand to expand their investments in relation to digital marketing?

Business executives need to understand that digital marketing is not a rocket science; there is the art component. In digital marketing, you are dealing with people and there is a need to understand their demographics and psychographics. You don’t just spend funds on adverts and expert returns. It does not work like that. You need to have a full understanding of who your target customers are and the best platform to reach them.

For start-ups seeking global attention; how do you ensure they get required rate of returns on equity?

It is simple. Start-ups need to have a strong business model with a huge market size. Also, you need to ensure that you’re solving a solution. In my experience, most start-ups come up with ideas without understanding the problems. The fact is that people (your target audience) don’t care about your solutions, they care about their problems. As such, you need to solve their problems in the best way you can.

As an expert why are businesses not getting the required attention, they needed to attract funds into their companies?

To attract funds from investors, you need to position yourself with a good image online. You are required to optimise your brand using SEO tools. You need to be on the first page of Google ranking and project your activities greatly. Investors will not invest their funds on companies that fail to have bad digital brand reputation. Most businesses today, particularly SMEs, are not positioning themselves so well. They have no digital expertise as their team members and this is invariably taking them a step away from getting funds.