Why You aren’t Making Enough Money and How to Change That

Watch this video to discover how to make more money from your business.

Why aren’t you making enough money?

Whether you are here as a brand, a business, or an individual… the question applies.

When it comes to making money, other people have to give it to you, usually in exchange for something you have.

For this discussion, I am assuming you have at least a fairly good product as a business or you are at least fairly skilled as an individual.

As we have seen with companies we know, you don’t necessarily need to have the best product or skill to make a lot of money.

So why aren’t people giving you a lot more money? Why aren’t you making enough money?

This is why…

You are not actively growing your market share.

If you are not growing your market share, your business is dying. Grow your market share and keep your business off the life support machine.

In simple terms, Market Share is how much of the population, industry, or even market is buying from you consistently compared to your competitors and for individuals, other professionals.

If you can get a majority of the population to buy from you, you will have fewer money problems.

Businesses you see out there performing well are actively doing that. And if you don’t immediately start growing your market share, then get ready to bury your business or brand.

So how do you change your business story? How do you start grabbing more of the market share?

To do this, there are 3 pillars you should be aware of, especially in this era.

And they are:

1. Visibility & Exposure

2. Automation & Digitization

3. Brand Reputation & Satisfaction

Let’s address them in detail one after the other.

Market share Growth – Pillar 1: Visibility & Exposure

Many people are quick to assume that those two words mean the same thing.

Well even if it does in the English dictionary, in this context of Market share growth, it doesn’t.

Visibility is having the ability to be seen.

To successfully grow your market share and make more sales, people should be able to see you. And it doesn’t stop there. They should also like what they see.

Business is an abstract idea. So to become visible, your business must have a brand.

In simple terms, a brand is an imagery and personality people interpret and see your business as.

They cant see your business. What they see is your brand. That’s the visible aspect of every business, whether good or bad.

So to make more money from your business, your business must become visible.

You must optimize and refine your brand. Your brand has to be so appealing that they come to love and trust it.

The first and most important way to show your brand is through your visibility assets.

In this era, your business’s or brand’s visibility assets are your professionally made

• images (like your logo, flyers, etc),
• engaging videos,
• emotion-filled voice-overs,
• and at least well functioning website (you can add an interactive web or mobile app as well).

Now, your business can be see through your brand’s visibility assets; what you need next is exposure.

Exposure is achieved when the visibility assets of your business’s brand are being seen by the relevant audience.

Exposure can be categorized in levels and as your business grows or as you seek to further increase your market share, you will require higher and higher levels of exposure.

To get more exposure, share your brand’s visibility assets (videos, images, etc) on WhatsApp groups, social media, online and offline ads.

When you have your business visibility and exposure is taken care of, your business will take off.

Because, more of your potential customers recognize, know, and trust your brand. Hence, your sales and cash flow increases.

This is a very important stage for startups.

Take advantage of WB DevWorld’s services such as Voiceovers, Video Works, Branding & Design, Websites/Web apps/Mobile apps as explained on the top of this page.

Market share Growth – Pillar 2: Automation & Digitization

The COVID 19 pandemic revealed the significance of automation and digitization in this era as only businesses that were already automated and digitalized could thrive during the pandemic and lockdowns.

Automation is simply the act of placing number, if not majority, of your business processes and activities on autopilot.

As a business’s visibility and exposure increases, its customer base usually increases exponentially.

Hence, it becomes paramount to automate most of their processes in order to mitigate the cost and as well as maintain optimal customer experience and the positive efficiency of the business.

Automation is usually made evident in sales and marketing processes, and in some administrative processes of your business.

Automation in a business is usually made possible through web apps, mobile apps, and other IT systems designed and developed the assist your staff in their work

It also enhances your customers’ experience as they browse and purchase from your website.

On the other hand, Digitization simply means that your business, both in relation to your customers and your internal staff, is interactive and predominantly through your digital channels; with little or no physical in-person interaction needed for a business transaction to be completed.

WB DevWorld is 100% digitized and about 60% automated.

We interact with all our clients online and we automate many of our systems so that only those absolutely requiring human involvement are not automated.

This is a very important stage for small businesses and to some extent, medium businesses as well.

Take advantage of WB DevWorld’s services such as Voice-overs, Video Works, Branding & Design, Websites/Web apps/Mobile apps as explained on the top of this page.

Market Share Growth – Pillar 3: Brand Reputation & Satisfaction

Why are some companies near-monopolies?

Dominating over 70% of the market and directing it as they wish because they have the largest market share.

When a business effectively builds the first two pillars namely… Visibility and Exposure & Automation and Digitization; they would have also built:

• — Increased Income Opportunities
• — Increased Business Opportunities
• — Increased Partnership Opportunities
• — Increased Customer Base
• — Increased Cashflow
• — Increased Business Revenue
• — and Increased Profit Margins

What they need now to assert their stake and to externally exist as a near-monopoly is to solidify their Brand Reputation & Satisfaction.

To do this, you need to create the highest premium brand visibility assets and obtain the highest levels of exposure.

You also have to become super automated and digitized with web app, mobile app, and IT systems that give specific custom experiences to your customers and staff.

As you keep your customers happy, you can go further by taking your business corporate social responsibility more seriously to show your customer base that you really do care for them beyond the products they buy from you.

With a strong brand reputation and satisfaction, you are well on your way to possessing over 90% of the market share.

This is because, as the bible says, a good name is better than riches.

So if your customers feel good to be associated with you and if they are quite satisfied with your service,
they will promote and market you for free to all in their spheres of influence.

This is a very important stage for large businesses and to some extent, medium businesses as well.

Take advantage of WB DevWorld’s services such as Voiceovers, Video Works, Branding & Design, Websites/Web apps/Mobile apps as explained on the top of this page.

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