How Mama Mary, a road-side Ibadan trader, makes 5- figures every month, beating other sellers to their game with this highly kept marketing secret.
This happened on my way back from Ibadan after I have the Privilege from g-text global of off-loading and impacting a crowd of over 120 people who gathered to learn the business of importation and E-commerce.
Listen to my story, stay with me.
This post is pretty long. But the lesson learnt will keep making money follow to your account even in a highly competitive market.
Don’t worry I’ll keep it short
Now back to my story as we journey back along the way the Amazon (Mrs. Bisi Akintayo) decided to purchase some tubers of yams.
Yam!! You say.
Yes, they are pretty cheap and of good quality at Ibadan.
So our vehicle stop along Onigari Bus/stop along Lagos/Ibadan expressway were popular Roadside sellers are selling their product.
Then Boooooooooom!!! Na them dey rush us
Something happened; about five sellers of yam came rushing to the vehicle as though a political party aspirant is passing by.
But only one woman was able to hit the door first and quickly took possession of the entire door and widescreen.
Immediately making the other sellers struggle to get to the front and they started pulling back.
This is the first lesson
That in a highly competitive and saturated market the first person to pitch and grab hold of a customer is likely to win the customer.
And this is what happened next.
I discovered that the sellers are selling their products in a combo package and at a discounted rate that is Four- tubers of yam for N 3,500.
Wow!! I said because you can hardly found this in Lagos.
But the following discussion erupted between the seller and the Amazon.
Amazon: How much be your yam?
Seller: Na N 3,500 for four and “them big well well” ok.
Amazon: “E no gree N1,500.
Seller: Ah!! Madam this yam too big for that price now. I go give you for N 3,000
Amazon: Madam the price still dey high. Okay I go give you for N 2000,
Seller: Madam N 2,000 no fit buy am, I no even get am for that price. Oya make I give you for N 2500 last.
Amazon: I no get N 2,500 oooh. In-fact I dey borrow the remaining money to pay from my colleague.
Seller: So you no wan make my pikin “Mary” chop for house today, abeg now.
Amazon: Oh your pikin name na “Mary”, my pikin name sef na “Mariam” and dem sound alike, abi?
Seller: Yes oooh, okay I go give you for N 2,300
Amazon: Make we just do am for N 2,200.
Seller: Okay no wahala, N 2,200. But I just dey give you. I no get any gain for this market.
The lesson above is practical.
That is the power of Negotiation and conversion
You can still have a highly priced product in a saturated market, but give room for negotiation to win the customers over.
After purchase we are set to go and something happened.
The woman quickly brought a nylon filled with cassava flour (garri) as a gift to thanking us for patronizing her. This was a surprise and the lesson is simple.
In selling a product or a service especially in a saturated market, let your offer be an Irresistible one.
Here is what I mean.
Offer additional services or product as a bonus for free that is relevant to what the customer wants to purchase, but remember you must have factor this into the original price of the product or service.
Then as the driver was about stepping on the accelerator of the vehicle, she quickly brought out her business card; at that point I was almost melted away.
I couldn’t imagine the thought of a roadside yam and garri seller got a business card.
That is interesting, but what about you?
Do you have a business card for your business?
If No, then the above woman just beat you to your game.
Back inside the vehicle as we were leaving the place where the amazing drama unfolded, I wondered the importance of the business card to a local street merchant.
That was when the driver made me understand that she can still drop-ship the yam to us in Lagos, even to our nearest Bus/stop.
That means we pay to her, likely she will have a bank account and she sends the yam through a trusted local bus driver for us to pick it up.
I could not smile, but burst into laughter.
Trust me, she more likely to make more sales and profits than other sellers even in that open and saturated market.
It is because she understood marketing and customer loyalty.
Imagine she has 50 customers and makes a profit of ₦1,000 per yam
That means N 1,000 X 50 = N 50,000
In sales for every month from old customers without sweating out to find new customers you can apply same for your business and see how that will grow your revenue.
Because it is easier to sell to an old customer, without much marketing. Then to new prospects where you have to start marketing from the scratch.
Lastly, as all this drama unfolds at the Bus/stop while buying the yam, there was this lady trying to sell vegetables to us, who has been with us throughout the whole drama, pitching her products and using the power of “persuasion”, in trying to sell the vegetables to us?
She almost shed tears. No jokes
In my next article I would talk about her.
But if you think you learnt something give me feedback through the comment section and this will help motivate me for my next article.