Introduction

Establishing concise definitions for logistics and mobility is essential, as they are often mistakenly used interchangeably. Logistics, in simple terms, refers to transporting goods or people, encompassing various aspects such as transportation, warehousing, and more. Well-known transport brands like Good Motors (GIGM) and Peace Mass Transit offer logistics services involving physically moving goods or individuals.

On the other hand, mobility relates to the ability to move freely. Companies like Uber and Bolt are prime examples of mobility providers offering convenient transportation services to individuals.

To distinguish between the two, logistics (transportation) is an action that involves moving goods or people, while mobility is the inherent capability to move about. Companies can sometimes offer logistics and mobility services, so people use the terms together to describe this particular business sector. For instance, Uber is a logistics company that transports people from one location to another. It also offers mobility services due to the quick and efficient nature of its transport solutions.

Logistics and mobility businesses play a significant role in generating economic value, a trend poised to increase as e-commerce expands in Nigeria. 

As more individuals buy and sell online, the demand for logistics and mobility services will rise. Consequently, to cater to the evolving needs of both businesses and customers, many logistics and mobility enterprises seek valuable tips for achieving success.

This article will delve into seven essential tips to empower your logistics and mobility business to thrive in today’s competitive market.

1. Have the complete package 

As we mentioned earlier, logistics have many components, including transportation, warehousing, distribution and efficient supply chain management. 

This component is the total package that will make you stand out from the rest in the logistics industry. 

While transporting goods from one place to another, businesses must be able to store them in a warehouse and distribute them properly. 

Utilise technologies like warehouse management systems, real-time tracking, and automated inventory systems to enhance efficiency and minimise costs for your business.

2. Target new customer base with the recent subsidy removal 

Nigeria’s newly elected President, Bola Ahmed Tinubu, commenced his first day in office by making a significant announcement: the Federal Government has ceased fuel subsidies for its citizens. Consequently, fuel prices have escalated, compelling numerous Nigerians, particularly those in the middle class, to consider a lifestyle shift from personal driving to relying on logistics and mobility businesses.

Adapting to evolving customer behaviour is a crucial strategy for staying ahead in the business world, and logistics and mobility enterprises must seize this opportunity to attract more customers. 

With the rising fuel costs, many middle-class individuals will be compelled to use logistics and mobility services for their transportation needs, which they typically handle with their vehicles.

To capitalise on this situation, businesses in the logistics and mobility sector must specifically target this group of Nigerians by offering appropriate pricing and efficient operations like online booking systems. 

By understanding the needs and preferences of the middle class, these companies can cater to their requirements effectively.

3. Embrace technology and automation

Technological advancements have revolutionised the logistics industry. Embrace automation and digitalisation to streamline operations, reduce errors, and increase productivity. 

Implement transportation management systems and route optimisation software to enhance tracking and visibility, improve delivery times, and provide real-time updates to your customers.

4. Prioritise last-mile delivery

The last-mile delivery is a critical aspect of logistics and mobility businesses. Invest in efficient last-mile delivery solutions such as route optimisation algorithms, alternative delivery methods (e.g., drones or lockers), and customer-friendly delivery options like time windows and real-time tracking.

 Ensuring a smooth and timely delivery experience can significantly enhance customer satisfaction.

5. Optimise payment 

Every business aims to generate profit, and receiving payment serves to achieve this objective. Consequently, optimising payment processes proves highly advantageous for logistics and mobility businesses. 

Companies can enhance customer satisfaction, boost sales, and increase revenue by embracing digital payments, offering diverse payment methods and currency options, and more.

Fortunately, businesses need not burden themselves with these intricacies. They can simplify the process by partnering with a reputable payment company like Fincra. 

Fincra enables logistics and mobility businesses to collect online payments effortlessly through Fincra Checkout. This user-friendly platform allows customers to pay using cards, bank transfers, Mobile Money, and PayAttitude.

Furthermore, logistics and mobility businesses can sell online without needing a website. With Fincra Payment Link, companies can provide customers with a seamless checkout experience, even without a dedicated website.

Offline payments are essential for logistics and mobility businesses, particularly in-person bookings and payments made after delivery. 

Fincra addresses this need by offering a convenient in-person payment option through our POS Terminal solution. This solution facilitates various payment collection methods, including cards and bank transfers.

Considering the critical role of payment in business operations, Fincra is the ideal partner for logistics and mobility businesses in today’s competitive environment. 

By creating a free account with Fincra, businesses gain access to comprehensive payment solutions that enable them to stay ahead of the competition.

In summary, Fincra empowers logistics and mobility businesses by providing various payment solutions. By optimising their payment processes through Fincra’s services, businesses can achieve their financial goals and thrive in the competitive market.