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Untapped Opportunities in Social Media during Covid-19 by Mirko

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Social media expert, Mirko La Rosa, advises business owners on how to take advantage of social media platforms during the coronavirus pandemic

There is no doubt that these are tough times individuals and business in the world over. However, it is not all gloomy at least for business, according to social media expert, Mirko La Rosa. With rapidly changing market conditions due to COVID-19, communicating with customers via social media has become more important. According to Mirko, it is important for businesses to note that the pandemic has led to changes that should reflect their communication style with customers. 

Importance of Social Media in a Crisis like the Coronavirus Pandemic

According to report by eMarketer, Facebook recorded a 70% increase in the usage of all of its apps in March. This reveals that people are turning to these apps to keep them entertained, connected, and informed while they stay at home due to the pandemic. In response to the development, marketers are turning to methods like email and social media to continue to build a brand and engage customers. 

With the statistics coming from different social media platforms and the increase in their usage, it has become imperative for brands need to approach all their marketing, social media included, in an intentional way.

Know The Audience

The importance of this point cannot be overemphasized and it has become even more critical during times of crisis like this. Businesses need to understand their audience and relate with them in the best possible way to appeal to their feelings.

Focus Less on the Business, More on The Customers

Every business owners pay a lot of attention to their businesses and this point does not suggest that the KPIs should be totally forgotten. However, focusing more on the customers is more important during a global pandemic. 

Explore New Things

Now is the time for businesses to look at other social media strategies and platforms that they have always wanted to use or explore. Expanding the social media reach to new channels would also help businesses to test new content and the response of their audience to the strategy.

It is worth noting that this could be a bit confusing, particularly for business owners that are not too tech savvy. However, with the relatively abundant time available, things will get better with increased usage.

The tips from Mirko La Rosa as mentioned are just some of the many ways of getting more from social media amidst the coronavirus pandemic.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Business Strategies of Michael Gastauer

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Michael Gastauer, a German billionaire and entrepreneur, has led Black Banx to remarkable heights with his innovative strategies in the digital banking sector. As the founder and CEO, his vision has transformed Black Banx into a significant player in the global financial industry, serving millions and revolutionizing banking practices. 

Gastauer’s approach has been distinctly customer-centric, focusing on solving real-world problems through accessible financial services. This strategy has not only captured a vast market share but also established Black Banx as a model of innovative fintech success.

Innovate Early and Often, Invest Strategically

Gastauer’s journey began with a robust foundation in the fintech sector, where he initially created and later sold a payment services company for US$480 million. 

This significant capital boost allowed him to invest in his next venture: Black Banx. Launched in 2014, Black Banx differentiated itself by offering real-time account opening and cross-border payment solutions to a global audience, addressing major inefficiencies in traditional banking. 

Gastauer’s foresight in identifying and investing in these key areas early on allowed Black Banx to scale quickly and efficiently. His strategy was clear: leverage high initial investment to accelerate growth and secure a substantial market presence before competitors could catch up.

Within a year of its inception, Black Banx expanded rapidly, reaching over 1 million customers. This was just the beginning, as the platform soon integrated cryptocurrency options, enhancing its appeal and utility for a broader client base. By the end of 2018, Black Banx was valued at US$9.8 billion, a testament to its rapid growth and the successful implementation of its business model. 

Gastauer’s bold move to integrate cryptocurrencies early in the game positioned Black Banx as a pioneering force in fintech, well ahead of traditional banks.

Pinpoint Problems and/or Challenges

One of the core components of Gastauer’s strategy was to tackle financial exclusion head-on. Black Banx made significant strides in offering banking solutions to the unbanked and underbanked, particularly in regions with limited access to traditional banking services. 

By leveraging technology and strategic partnerships with mobile network operators, Black Banx has been able to extend its reach and offer innovative banking solutions to millions worldwide. This strategic alignment with mobile operators has been crucial, as it taps into an existing infrastructure to reach remote areas, significantly lowering the cost of expansion.

The platform’s ability to facilitate quick, cost-effective international money transfers has been a game-changer, particularly in markets like the Middle East, Asia, and Africa. This not only supports individuals and businesses in these regions but also contributes to the overall growth and stability of the global economy. 

Gastauer’s focus on simplifying and reducing the cost of these transactions demonstrates a deep understanding of the core needs of his customers, thereby enhancing customer loyalty and trust in the brand.

Take a Tech-Driven Approach

Under Gastauer’s leadership, Black Banx has remained at the forefront of technological integration within the banking sector. The adoption of blockchain, AI, and data analytics has enabled the platform to offer personalized financial services, enhancing customer experience and satisfaction. 

This technology-driven approach ensures that Black Banx stays ahead of industry trends and continues to offer relevant and secure banking options. Gastauer’s commitment to integrating advanced technology not only streamlines operations but also provides a scalable model that supports continuous growth and adaptation in a rapidly evolving market.

Leave No Market Unturned

Gastauer’s vision for Black Banx was never limited to a single region. By 2023, the company had expanded its services to include 28 FIAT and two cryptocurrencies, with a robust presence in over 180 countries. This global approach has not only diversified the company’s customer base but also minimized regional economic risks, allowing Black Banx to thrive in a competitive and fast-changing financial landscape. 

The strategic decision to operate across diverse markets also mitigates the risk of localized economic downturns affecting the overall health of the company.

Set Milestones

The year 2023 was a landmark year for Black Banx, as it reached 39 million customers and reported revenues of US$2.3 billion. The company’s ability to maintain a high rate of customer acquisition and satisfaction speaks volumes about its effective strategies and customer-focused approach. 

The first quarter of 2024 continued this trend, with Black Banx announcing a pre-tax profit of US$639 million and revenues of US$2.1 billion, driven by strategic implementations like fixed monthly account maintenance fees. Gastauer’s strategy to introduce fixed fees was a calculated risk that paid off, providing stable revenue streams and further solidifying Black Banx’s financial foundation.

Michael Gastauer’s strategic foresight and relentless innovation have propelled Black Banx to new heights, making it a leader in the digital banking sector. His commitment to financial inclusion, coupled with an aggressive expansion strategy and technological integration, has not only shaped the future of Black Banx but has also set a new standard in the industry. 

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