Startup South 2019: Brand visibility for market harnessing
At the ongoing Startup South Conference in Uyo, my firm, we hosted a session to discuss brand visibility as a means to access the market with Startups and emerging businesses.
The panelists submitted as follows:
1. Before you strive for visibility, make sure your product is good enough for the market. It may not be perfect, but let it be good enough to worth your effort.
2. Don’t be satisfied with friends and families patronizing you. Your business hasn’t really been tested until you start selling to people who don’t know you.
3. Leverage friends and families to gain referrals. Seek their feedback and urge them to mention to their friends, colleagues, neighbours, and so on. Offer an incentive if you can.
4. Say it. Nobody knows what you have to offer unless you tell them. So every opportunity you get should be used to say what you are doing. Of all your personal contacts and social media friends, how many know what you do? Talk and post more about what you do.
5. Create a brand for yourself, particularly an identity that makes it easy for people to spot you. It could be your name/moniker, hashtag, tagline, and so on.
6. Choose the right social media platforms. Go to where your targets are and publish the right content consistently.
7. Leave no stone unturned as you go along. WhatsApp status, Linkedin, physical meet-ups, target events, and so on.
8. Ask. If you need exposure on any platform, try to network your way to a contact person and be willing to exchange value.
As you seek visibility, keep working on developing soft skills like negotiation, meeting people (networking), emotional intelligence, and others.
Every viable business operation has a threshold before a breakthrough, what happens in three months for business A may take one year to happen for business B, just keep doing your possible best per time.
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What makes a solid brand? Good Product.
1. People
2. Good Business
3. Values
4. Identity
5. Good Product
To emerge as a solid brand means that you are solving a problem, so well that people keep coming back to you for your solution. As a business brand, there are two ways you solve people’s problems, through your products or services.
If you are going to build a solid brand, then your service or product has to get so good that it cannot be easily replicated by anyone else.
Here are some quick tips to consider in creating super good products or services:
a) Quality: Strive to ensure authenticity, durability, efficiency, dependability, or top-notch expertise and professionalism in the case of services. Give customers value for their money, so they can always speak well of your product.
b) Functionality: Your product or service should be designed to address the pain points of customers. Keep it as simple as possible while it solves the problem optimally.
c) User Experience: Make it very user-friendly. Remember the product is for the customers, not for you. The guide to this is to create products and services that customers can readily use by themselves with little or no support.
d) Innovation: It does not matter how well your product is functioning presently, you have to keep seeking ways to improve it by all means necessary. A lot is changing with how people live, technological advancement, and so on, your product or service should not be stuck.
e) R & D: To improve your product or service, mind your assumptions. Do your research from the customers and the general market, so you can develop the products and services accordingly.
f) Product Branding: In every way possible way, make your product or service look good. Everything about the product should reflect the standard you are trying to attain, it helps to establish your brand as solid.
It is important to mention that all these factors may not fall in line at once, but keep improving and with time your brand will emerge as solid.
Building profitable and reputable BRANDS is what we love doing.
One more lesson coming on what makes a solid brand.
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What makes a solid brand? Identity
Would you identify a Mercedes Benz car even without the logo on it?
Would you identify the voices of people you know personally even without seeing their faces?
Would you recognize the taste of your favorite food brand even with your eyes closed?
Where are we going with these questions?
It’s simple. Whether done intentionally or not, every business brand takes on an identity for itself. There’s a way customers perceive and interpret your brand the more they interact with it, you need to define your identity and project it the right way to the market.
What should you do?
a) Build your name. Beyond choosing an appealing and appropriate name for your brand, you need to build a healthy reputation for your brand. This is derived from the last point we looked at, sticking to your brand values.
b) Visual identity. Your brand is an unfolding story and one of the ways it tells the story to the market in a distinctive manner is through your logo, colors, icons, packaging concepts, and so on.
c) Your brand mark. Every solid brand has certain things that are unique to it often referred to as “the XYZ way”. You have to deliberately decide how you do things in business from your designs to marketing communications, website outlook, social media strategy, product development, and more.
The central idea of brand identity is what you want to be known for because, if your business does not have any defined perception that it is projecting, it will eventually become a case of anything goes regardless of the size. Solid brands don’t take their identity for granted.
We would love to work with you on your logo identity, marketing communications, social media, and full identity system. Reach us via wecare@mapemond.com
Building profitable and reputable BRANDS is what we love doing.
More lessons coming on what makes a solid brand.
#DoBusinessBetter
What makes a solid brand? Values.
1. People
2. Good Business
3. Values
From the oldest hotel and business in the world, Nishiyama Onsen Keuinkan, to Colgate, Kelloggs, John Deere, Nestle, Unilever, and most other brands that have lasted over a hundred years, which we have studied, they all have one thing in common – brand values.
The founder(s) gave careful thought to the lasting principles that will govern the existence of the business as a brand and each successor had a duty to preserve and transfer these values to their own successor(s).
Here is a quick preview of some of these reputable brands and how values have helped them become solid brands:
a) Nishiyama Onsen Keuikan: The core value of this ancient brand is captured right in its mission statement, “it is the pleasure and mission of Keiunkan to carefully protect the benefits from this rare earth.” Preservation is an enduring principle for this brand and for over 1300 years now, it has ensured that the hot springs are preserved which implies that the hotel which was built to house the springs has to be preserved generation after generation.
b) Colgate: On their official website, we found the statement “The small soap and candle business that William Colgate began in New York City early in the 19th century is now, more than 200 years later, a truly global company serving hundreds of millions of consumers worldwide. Throughout this history, Colgate people and Colgate values have been at the heart of our success.” At the very heart of their success as a brand that is over 20 decades old, lies two things we have mentioned in these series of what makes a solid brand, people and values.
c) Kelloggs: More than 100 years ago, Will Keith Kellogg founded this brand and ever since then, it has gone on to become a solid brand. In their own words, “through our values-based culture, we create a stronger future every day”.
d) Nestle: Founded 152 years ago, innovation has been at the heart of the brand since its beginning. In their words, “ever since Henri Nestlé invented Farine Lactée to alleviate infant mortality, we have been dedicated to enhancing people’s lives.” Their value of quality is based on the commitment to enhance the quality of lives.
e) John Deere: This brand goes straight to the point on their website, “We work every day to uphold our founder’s core values. Integrity, quality, commitment, and innovation are more than ideals we work toward. They are values we live and breathe – values found in every product, service, and opportunity we offer.”
The world has over 5000 business brands that are over 200 years old (over 3000 of them are in Japan), and Japan alone has over 21000 business brands that are over 100 years old. One thing all these brands seem to have in common is the values they have held on to through the decades.
The question for you is, what principles govern your business?
What core values are you weaving through the fabric of your business that could be passed on to successors?
If you desire to build a solid brand that will stand the test of time, articulate and communicate your brand values to all stakeholders.
Building profitable and reputable BRANDS is what we love doing.
More lessons coming on what makes a solid brand.
#DoBusinessBetter
WHAT MAKES A SOLID BRAND? GOOD BUSINESS.
2. Good Business.
The whole idea of branding is to market your business in such a way that it has a fixed place in the minds of customers and the market at large. What this implies is that branding on its own will not make any difference if your business model and strategy are flawed.
You could have all the fanciful designs, inspiring ambiance, well-painted walls, fabulous signage, pleasant service delivery, visually appealing communications, and all other concepts, they will all amount to nothing if the business is not generating enough revenue to be profitable.
So here are a few things to consider in building a good business.
a) Business Idea. Beyond hobby, passion, or copying what others are doing, your business idea should be aimed at solving a problem. An idea that meets a need will beget a good business.
b) Product Viability. Beyond your assumptions and excitements, does your product really work? Will people actually pay for it? Does a sizeable market exist for the product or service? If your product (or service) is not viable, you cannot build a good business around it.
c) Business Model. A good business is one that has clearly defined sources of revenue. You must have a plan of how exactly the business will make money repeatedly.
d) Business Strategy. No experienced person starts a business and leaves it to chance. You need to have plans on breaking into the market, gaining market share, retaining customers, and so on.
e) Growth Possibilities. As the years unfold, a good business should be expanding in revenue, workforce, market size, new products, and so on.
f) Systems & Processes. You need to organize the business as much as possible. Establish guiding rules and operational procedures for finance, HR, procurement, bids and tender, and every other aspect of the business. Develop and maintain a global perspective.
g) Corporate Governance. This pertains to the leadership structure of the business. If you want a business that can function without you or even outlive you, a business that keeps everyone accountable, and for quality decision making, you need a solid corporate governance structure. A good business leaves a legacy and creates a succession plan.
Your business model and strategy is like a socket with electricity, branding is the plug, it must get into the socket and the switch turned on. If you want a solid brand, keep working at building a solid business.
Building profitable and reputable BRANDS is what we love doing.
More lessons coming on what makes a solid brand.
#DoBusinessBetter
THIS COULD SAVE YOUR BRAND.
One of the most valuable things you can do for your organization is to seek honest feedback from your team. There is a treasure of insights lying untapped within your team, but the wall between you and them does not let them share.
You have your ears closed and they have their lips sealed.
It should not be so.
Maybe you think this does not apply to you, but are you sure your team has been honest with their feedback and opinions?
Your brand just may survive longer if employees share their reservations.
You could double profits or increase productivity if you create ways to hear their opinions.
Seek team feedback. It is free and does not change your status as Boss.
If you need an external person to help handle such a process, reach us via wecare@mapemond.com
Building profitable and reputable brands is what we love doing.
BRAND LESSONS FROM THE WORLD’S OLDEST HOTEL & BUSINESS.
Nishiyama Onsen Keiunkan, a hot springs hotel in Kyoto, Japan, is the world’s oldest hotel and also the world’s oldest continuously-operating business, as verified by Guinness World Records. The hotel is now 1313 years old and has been operated by 52 generations of descendants of the same family.
We picked some very simple but vital lessons from this legendary hotel brand that businesses around the world should pay attention to if transgenerational growth is a concern.
Lesson One: Brand Values. Careful thought was given to the lasting principles that will govern the operation of the business and each successor had a duty to preserve and transfer these values to their own successor.
Lesson Two: Socio-cultural values matter. The prevalent culture of society has an influence on how businesses run and perform. This is why Mapemond organizes Outclass Employability and Entrepreneurship Training, to breed a different generation of young Nigerians with the right work discipline, work ethics, and work culture.
Lesson Three: Think legacy and succession. What is the point in building a business that ends with you? We should think in terms of being able to transfer what we build to the next generation. Whatever you can do to give your business a chance to survive beyond you, please make the attempt.
Lesson Four: Maintenance culture matters. Successive generations have ensured that this legendary hotel is well maintained over the centuries. How well do you pay attention to good maintenance in your business?
Lesson Five: Innovate. While the essential selling points of the hotel – the view, hot springs, and location – have been maintained, the hotel has gone through a lot of adaptation to modern designs and concepts. As old as it is, it competes favorably with other hotels and tourist destinations across the world.
Building profitable and reputable BRANDS is what we love doing.
BUSINESS INSIGHT: QUESTIONS THAT MUST BE ANSWERED
Branding is ultimately about winning in business, so we publish articles to equip you with strategic business insights for success. Before launching deep into any business, you should settle down to answer some critical questions. These questions are like guiding lights that drive the course of your business plan and helps you develop the best pitch.
You could develop these questions after a proper market survey and analysis. They should be based on your daily observations of the market, the product you are sending out and the reactions of the target customers. You must consider the challenges your product or service might face.
Recently, one of Africa’s most successful entrepreneurs, Strive Masiyiwa, shared some tips on his Facebook page on what to look out for if you are trying to prepare a business or investment plan, which we thought to share with you.
Here are the ten things he shared:
1. What is your product or service and why is it innovative or unique?
2. What big problem does it solve and what is the market opportunity?
3. Who are your main competitions?
4. What traction does your venture have?
5. What are the main risks or challenges you face?
6. How does your venture make a positive social impact?
7. What is your venture’s current financial situation?
8. Was your model designed to achieve scale?
9. What milestones will getting the needed capital, help you achieve?
10. How will an investor make money if he or she invests in your company?
We are sure that the above questions must have taken you back to the drawing board. Let us know if you had a hard time answering them.
Written by Donald Alaye
We can help you with your business development plans. Send an email to wecare@mapemond.com
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BRAND REVIEW: TECNO MOBILE
The emergence of smartphones began a new era in the mobile phone industry. Smartphones have undoubtedly become an important part of our lives that we can hardly do without. They are referred to as the new personal computers because aside calls, smartphones come with enabling features that have brought more ease to our lives, businesses, and generally changed our society greatly.
It would interest you to know that prior to 2007 smartphones were not as affordable and rampant as they are now. In fact, twelve years ago, the mobile phone market was mostly saturated with Nokia Symbian phones, Samsung and Apple smartphones. While Nokia phones were affordable, they had numerous limitations. On the other hand, Samsung and Apple smartphones were too expensive for most customers in Africa to afford.
Having identified this gap in the mobile phone industry, TECNO launched itself as the most affordable smartphone brand. This singular move set a new tune in the market and brought more competition thereby giving the big brands a run for their money. TECNO came with an innovative approach and consistency to achieve customer retention. The brand literally rewrote the state of art of technologies by producing localized products under the principle of “Think Globally, Act Locally”.
BRAND HISTORY
The TECNO brand has proven that a need in the market is always an opportunity for brands especially new ones to gain a breakthrough. The founder of TECNO mobile, George Zho, knew this early and worked with the vision of solving the need of mobile phone users in mostly Africa, right from its inception in 2006. Notwithstanding being a Hong Kong based brand, TECNO mobile has become a household name in different countries as it keeps its innovative game on and leaves other phone brands trailing behind. The brand has remained committed to offering consumers with satisfactory mobile communications solutions.
As a subsidiary of TRANSSION Holdings, a company dedicated to producing high-quality smart devices and mobile internet service that can compete globally, TECNO as its flagship brand has become one of the leading phone brands in the world. TRANSSION Holdings has built its brand portfolio with superior mobile phones like TECNO, itel, Infinix, Carlcare, etc.
Though TRANSSION’s first attempt on a TECNO mobile wasn’t as sleek as what we now know the recent ones to be, and didn’t have a smooth entry into the market, the brand strived against all odds. With several modifications and innovations, the brand bounced back stronger, dominating its industry in just a short period. Following market research, TECNO mobile identified Africa’s need and dived in to solve it which led to its success, thereby making Africa its number one customer base. The entrance of TECNO mobile into the Nigerian market changed the telecommunications narrative in the country. It offered the customers more choices with different features that were affordable and this earned the brand more users.
Apart from its affordability, TECNO mobile also holds the reputation of being the first dual-SIM phone brand supplier in Africa and holds 40% of market share in major African countries. The brand has further established itself as a global player in the telecommunications industry expanding to continents like South America and Southeast Asia. The success of the brand can be ascribed to well-designed strategy and systematic management.
From solving an identified need, TECNO mobile has earned several recognition and awards. With its outstanding smartphone product chain that is uniquely designed, TECNO continues to beat its counterparts in the mobile phone industry. The brand’s strength focuses on innovative designs and manufacturing, sales and services.
BRAND VISION
The parent company, TRANSSION Holdings operates with a vision that has had a ripple effect on every aspect of the business especially in the quality of their product. Here is the company’s vision:
“To provide consumers in global emerging markets with their favourite smart device and mobile internet service.”
BRAND MISSION
The company has a detailed mission statement, which is to:
- Be a moral conscious company.
- To provide users with smart device and mobile service that they enjoy;
- To provide partners with profit earning solutions and help them fulfil their potential and value;
- To create material and spiritual happiness for employees;
- To create value for shareholders.
- Become an outstanding representative of Chinese private enterprises which establish their business overseas.
BRAND VALUES
The brand functions with values that have shaped its products and services. They are;
- Teamwork
- Honesty
- Integrity
CORPORATE CULTURE
The brand has a culture that helps its organization thrive.
“To continuously thrive as a market leader among the industry, we must look ahead, think big and get ready for challenges. We must stay abreast of the changing market demands and fulfill customers’ expectations. That’s what our corporate culture is all about. It is the motivation, guideline and target we are following to succeed in our business and dreams.”
Written by Jennifer Chioma Amadi
Do you need to get your brand positioning right in the market place? We can help. Send us an email at wecare@mapemond.com
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SIX MISTAKES THAT MAKE YOUR CUSTOMERS LEAVE
Acquiring customers require a great deal of effort; they should not slip through your fingers too easily. Here are some mistakes to avoid if you want to retain your customers significantly:
1.You’re not romancing them enough – Clients deep their hands in their pocket to buy from you because they love how you meet their needs. Take advantage of this and make your service delivery and relationship more soothing. Simply romance your money out of them.
2. You have a marketing effort that sucks – Customers want to associate with a brand that makes them proud. If your marketing effort is not as impressive as that of the competition, even old customers will be lured away from you. You need to pay attention to all of your marketing materials and efforts.
3. Not asking for enough feedback – Do you have a system to receive feedback from customers? It helps you know what your product/service is like in the view of the customers. Customers have a wealth of ideas to improve your business and you can only get that when you ask.
4. Outlive your usefulness – You must constantly reinvent your products/services to keep customers glued to you or they will slip away to more interesting options.
5. Inconsistency – Ensure that you maintain a consistent identity and appeal so that your customers will not drift to options that make a stronger impression on them with consistency.
6. Reward loyalty – Customers are more likely to stick with you if you appreciate their patronage and also reward them for being loyal, the little perks, bonuses or souvenirs matter.
The truth remains that customers will move on overtime, but try to ensure that you do your possible best to keep the much you can.
Written by Donald Alaye