Positioning Your Brand Strategy for The Nigerian Market
Brand strategy is the process of positioning your brand in the mind of your target market. The goal of every brand should be to be top of mind in their customers’ heads – that is whenever a customer thinks of your product, your brand should be the first name that pops in their head. For instance, whenever you think of ordering a cab, the first name that comes to mind is usually Uber, or, if you want a cold, non-alcoholic drink, Coca-Cola comes straight to mind. The aim is to be the top of the market niche of your brand, the customer needs to specifically identify your brand as distinct from others in the market. Brand positioning occurs whether or not a company develops a brand strategy, for every market, there is a market leader and less recognized brands. Every company has to craft a brilliant and progressive approach to positively position its brand to grab the attention of its target audience constantly. Basics of Brand Positioning The basic four elements of brand positioning are: Target market: Who are your customers? What is the major demographic constitution of consumers that your brand appeals to? Market definition: What level is your brand competing for? How is your brand relevant to customers? Brand promise: What is the most convincing, logical or emotional benefit to your target market that your brand has over your competitors? Legitimacy: What is the most credible evidence you can present to confirm that your brand would deliver on its promise? Brand strategy styles There are four branding styles prevalent in Nigeria, choose the ideal strategy for your brand and implement. The big bosses battle This branding style is usually for brands that are in a prominent market category with the market leadership margins within fringes of each other. Examples of these are Coca-Cola versus Pepsi and Jumia versus Konga. These two categories of brands are very similar and are constantly competing to gain market share. It is honestly a battle for the big bosses due to the amount of money and time it takes to successfully attempt this strategy. Big Fish, Smaller Pond This idea is the basis of most specialist and personalized brands. It is based on the idea of creating a niche within an underserved market, which is basically identifying a sector of an existing market whose needs have not been met by market leaders and positioning your brand as the solution to this market gap. For instance, there are several platforms that cater to needs of career women and female professionals, however not a lot are youth-focused, which is where She Leads Africa comes in. Fundamentally, this style avoids going head-on with the market leader but focuses on a specific niche. Game changer This brand positioning reframes an existing market in new ways. It gives customers new and innovative benefits that make market leaders and your competitors so irrelevant that your brand becomes the new market leader. If the needs or expectations of your customers change, you differentiate your brand from competitors by highlighting its distinctiveness or marketing your brand in a revolutionary way. Take Jameson’s foray into the Nigerian market, for instance, other drink companies brand their product as aspirational lifestyle brands or luxury brands, to be honest, aspirational branding is the de-factor brand strategy for products similar to Jameson. However, Jameson took the alternative route and branded as an artsy, cool kids brand, which has sporadically fast-tracked its market penetration in Nigeria. Another example is Wanneka Hair, the hair extension retailer that achieved Instagram fame by using unique brand storytelling, unique content, influencer marketing and several other techniques to achieve market leader status in a saturated market. This branding strategy will highlight your distinctiveness and help you beat the market leader, however, your strength must be backed by good quality product and service. This style gives a feel of exclusivity, community and a unique experience for its customers. First mover When there is no other product or service like yours and you are the first of your kind, you have first mover advantage and you get to invent your market. This strategy is for brands that do not fit into any existing market. Examples of this strategy are Uber and Printivo. The taxi-hailing app market did not exist before Uber created it, so also a Nigerian online DIY print provider had not been invented before Printivo. The benefit of this strategy is that your brand would be the default market leader because you literally created this market. However, this strategy can be risky because you might not find the right product-market fit simply because the market does not exist because there is no need for it. There are several brands that flopped in an attempt to fill a need that doesn’t exist, don’t join them. This strategy comes with several copy-cats, nonetheless, patents and trademarking might help, but if your product can be easily imitated, ensure you get enough head start to gain as much market share as possible. Got an article you’d like to share with us? Share your story with us here.
Budding entrepreneur: Here’s why you need a Lawyer in Your Corner
Naivety and misplaced trust have seen many individuals lose money and opportunities they have worked for in business. Doing business with a friend can contribute to its success as there are cohesion and team spirit at work. However, delve into a little research and you will realize that many have also been swindled by friends they considered family. When setting up a business especially a partnership it’s good to get your agreement in writing and sign contracts. This will draw boundaries on which the business will operate. [bctt tweet=”A Lawyer brings perspective to your business.” username=”SheLeadsAfrica”] Most millennials excited by the start of something new forget that there are legal obligations that their businesses should meet. This is why it’s paramount to involve a lawyer from the onset of your business. A Lawyer brings perspective to your business. Instead of seeing the business as a friends venture or a short-term money-making investment. Lawyers see the bigger picture and plan for circumstances that we may not foresee as we are busy trying to build the business. Change is inevitable, mindsets change and people who were previously on the same page about the direction a business should take begin to disagree. This situation is dangerous as it can lead to the death of the business or the destruction of a brand if no prior steps had been taken to advise on what should be done in such a situation. That’s why it’s important to involve a lawyer early on at the start of the business albeit the extra cost the lawyer will add to your young business. In the long-term, you will realize this is cheaper as opposed to calling on a lawyer only when things go wrong and you are in court. [bctt tweet=”A lawyer will go out of their way to ensure your company’s intellectual property is protected” username=”SheLeadsAfrica”] Our current world is such that you can do everything by yourself online including registering a company in a span of one to three days. You can draw contracts to use in your business transactions using templates provided online. Such liberties are great but they should not delude us into thinking that lawyers are not key to our businesses success. A lawyer will go out of their way to ensure your company’s intellectual property is protected. In a business partnership between friends, they will bring the law on board to ensure no one is cunning enough to overwork the other and still expect to reap from the others hard work. Here are some reasons why motherland moguls should enlist the knowledge of lawyers in their businesses. A lawyer is your voice of reason. Most businesses sprout from our passions. This means we may not be very objective while making some decisions. We are tempted to use trust as a currency while dealing with our customers or partners just to get the business on its feet. This means we may end up with bankrupting the business due to bad debts. Lawyers come in handy as they assert themselves and insist on contracts with suppliers and customers. This saves motherland moguls from cons as there will be no loopholes to be exploited in the business. Lawyers offer security and protection A lawyer’s roles are to pre-empt situations and ensure we are not victims of unscrupulous people who we are doing business with. In situations where certain circumstances cannot be avoided, they ensure the law is on our side. Many times we are ignorant of what is required of us by law and lawyers protect us from our own ignorance. Lawyers have connections and a clientele base like you The right lawyer will hold your hand and help you know the ins and outs of the business niche you have chosen to explore. They have other clients like you and so they have been on the journey you are just beginning. Lawyers will offer insights that may prove very useful in the long run to a start-up. In addition to offering legal services, they can be a marketing tool for your business as they speak of your business to potential clients. Got an article you’d like to share with us? Share your story with us here.
Toyin Umesiri: Many people do not think much of Africa, but we can prove them wrong
Toyin Umesiri is an entrepreneur and the convener for the Trade with Africa Business Summit. In 2017, she made the big leap from corporate America into full-time entrepreneurship to focus on increasing trade between U.S. and Africa. After over a decade of working in corporate America, at Fortune 1 & Fortune 150 companies. She is now taking all the lessons learned, skills acquired and global networks built as leverage in empowering businesses on the continent of Africa. Tell us about your background I was born in the northern state of Kaduna, Nigeria. For my first degree, I attended Federal University of Agriculture, Abeokuta and graduated with a BSc. in Mathematics with a minor in Computer Science. In the fall of 2004, I arrived in the U.S. to pursue a Master’s program in Information Systems at Central Michigan University, Mount Pleasant, Michigan. Upon the completion of my graduate degree in 2006, I joined Whirlpool Corporation in Michigan as an Analyst. I grew my career there designing and developing global technology solutions that addressed complex business problems in manufacturing, finance and supply chain. In 2013 I was hired as a manager to help roll out the global sourcing solution for Walmart in the UK and North America. I am passionate about empowering women and I have had the opportunity to serve on various leadership committees that advanced women’s agenda. In 2016 I was published in a book called ‘Leading Women’ and was also featured as a leading and inspirational woman in technology on the platform. What made you walk away from Walmart to start Nazaru, and what skills would you say you acquired that prepared you to start your own company? I have been on a journey of reconnecting with Africa for the past 2 years. It all started when I made an emergency trip to Nigeria in 2015 following the passing of my father. And that one trip changed my life. While there I had the honour of writing a mini-biography of my father which gave me a front row seat to understanding how he lived. The experience rocked my world and I came to realize that my late father was a man that served his community in meaningful ways. Following that trip, I decided I needed to be of greater service to my generation. I didn’t know exactly how to help then but after 2 years of research in this area, I do now. When I returned to my base in Arkansas I made a strong commitment to Africa. Being naturally situated in the global headquarters of Walmart it was there that I first ignited my dialogue on Africa. It began with asking questions like – What does Africa need? – What are the current levels of Africa’s Non-oil exports to the U.S.? -What will it take to increase these numbers? e.t.c. As I engaged stakeholders and business executives around the world it became clear that there was a huge gap in information available about the region. This knowledge is now informing the type of work that I do through my company Nazaru LLC and the Event ‘Trade with Africa Business Summit”. Nazaru is a platform that allows Africa’s exporters to showcase what they want to sell on the global market. Following various conversations with decision makers around the world, it appears that there is little to no visibility on what Africa has available. We are starting with visibility to the commodity as phase 1 but there is a long-term strategy that we are working hard towards. For over a decade I have led multiple multi-year, multi-million dollar projects across the supply chain, manufacturing, procurement, global sourcing and merchandising and this has allowed me to know what it takes to run a large business end to end. In my past roles, I also designed multi-year technology roadmaps and strategies working with executives that ran the multi-billion dollar company, Walmart. I am grateful for the experience and opportunities that I had there to grow my career but when my passion for Africa grew too big to joggle with my daily responsibilities, I knew it was time to follow my heart. How did you come up with the name ‘Nazaru’ for your Startup? Due to the uniqueness of my work and how closely tied it is to my faith and work journey when it was time to name my company I wanted something with deep symbolism. Nazaru has its roots in the scriptures (John 1:46) and is short for Nazareth. There was a question raised in that verse that said “Can anything good come out of Nazareth?” and Philip answered, “Come and see”. In Africa’s case, there are many who still who do not think much of Africa, but we can prove them wrong. Africa is filled with hard-working men and women, young and old focused on positioning themselves for a better future. What is the biggest challenge you have faced so far and how do you deal with it? When you are inside of the corporate world all the resources you need are right there and provided for you. Outside not so much. The other challenge is getting people to hear about what I am doing and getting them to support. It has been very rewarding and the cool thing is that many people actually have a passion for Africa so my role, I am coming to realize, is to serve as a catalyst and a connector. To make the event successful,l I have the partnership of large recognizable brands and trade organizations like the World Trade Center and USAID East Africa Trade and Economic Hub. Their engagement and support allow me to have a greater impact and reach more people so that African based businesses can benefit from engaging in increased trade with U.S. companies. How is the event ‘Trade with Africa Business Summit 2018’ different from other held events focused on Africa? The Trade with Africa Business Summit is different in that you will find business executives leading this
Evita Joseph Asare: Being a mechanical engineer gave me the confidence to start a makeup business
[bctt tweet=”The story of Evita Joseph Beauty Store begins with the story of Evita a mechanical engineer” via=”no”] Having received two awards as a pacesetter in online retailing of makeup products, the Evita Joseph Beauty Store continues to gain recognition in the Ghanaian beauty industry. The story of the brand begins with the story of Evita Joseph Asare, an erstwhile mechanical engineer whose one visit to Paris changed the course of her life. Starting from an engineering class of only 4 women in a class size of 126, Evita has channeled her passion for designing and building machinery to designing and producing makeup products to enhance the modern woman. SLA contributor, Emma Kwenu Smith, caught up with the CEO of EJ Makeup, Evita Joseph Asare, to share her business journey and some of the significant milestones all SLAyers can learn from. Mixing Mechanical Engineering and Makeup – how did the journey begin? As an active member of Women in Engineering (WINE), I got the opportunity to attend a 6 weeks course in France. There, I got indoctrinated into the world of beauty and makeup. My first experience with makeup was in a MAC Store where I was told I needed a concealer. Upon arrival to Ghana, I jokingly told all my colleagues in the office they needed concealers too. That trip gave me access to products and since, I have always been complimented on how I wear my makeup. Gradually, it dawned on me that this was a good opportunity to challenge myself to create a sustainable business in the beauty industry. I got some books from Bobbi Brown and Kevin Aucoin and I enrolled in a beauty school during my maternity leave. Right after, EJ Makeup was born. Additionally, what would you say is the innovative idea behind Evita Joseph Makeup? Our vision is to provide world-class beauty and makeup product that flatters the women of color, boosting their confidence to stand up and stand out. I started a blog to share my looks, products review and others. Through my blog, I was able to establish trust among my readers. Many people asked for product recommendation and these products were difficult to find locally, so I started my online beauty store – EJ Beauty Store. We focus on products that flatter skin tones and yet, are basic to work with. Most of the products are made for professionals, so we make sure that our products are easily available, are of good quality and also are competitively priced. [bctt tweet=”In 2014 and in 2016, we won the Best Beauty Retail Store in Ghana- Evita Joseph Asare” username=”SheLeadsAfrica”] How has your engineering background played a part in managing the Evita Joseph business? Engineering has dared me to be stronger– it gave me the confidence to try new things outside my scope. Looking at our past, engineering was not the forte of women. Gradually, we are bridging that disparity, but for a woman like me who found herself then in a male dominated industry, I was inspired and challenged to do more. And that has not changed. Through engineering, I have learnt to take up the daunting duties and I’m able to contextualize the tools of my profession. From conceptual product development stages to the production stage, I now understand the process of building and re-engineering concepts to meet customer needs. What skills do you draw from your background as useful in managing the EJ business? Critical thinking and analysis are the bedrock of every engineer. Since starting EJ Makeup, it has proved to be a very relevant skill. Also, contrary to popular opinion, engineers are also tasked with marketing their design ideas to stakeholders. With this background, my marketing, communication and networking skills have been honed since I have to convince others that EJ Store is the go-to place for all your makeup needs. How has the makeup space transformed over the years and what is the future of makeup and the beauty industry in Ghana and also globally? Globally, makeup is booming and Ghana is no exception. Every day, I wake up to a new social media page for a makeup artist in Ghana. The industry is growing and getting more competitive. MUAs of today are highly educated individuals -some having BSc and Masters degrees. The industry is no more for the less educated as it used to be. The future of makeup in Ghana is both promising and threatening. It provides a market for beauty brands like Evita Joseph who retail original local brands globally and strategically research, design and manufacture suitable products. Conversely, the challenge that we face is in controlling the influx of fake beauty products on the market aimed at taking advantage of vulnerable and unsuspecting users. The beauty industry is thriving, and many are being enticed to jump in and make money off this trend. What pointers will you give anyone who also wants to enter the industry? Well, start by having a mission and vision– it gives you a direction. Also, too many of us jump into a business without doing due diligence, so do your market research and do it well. This can be as simple as knowing your targeted clients or as complicated as understanding the very ingredients that are not suitable for specific skin types- the last thing you would want on your hands is using ingredients that are damaging to people’s faces. Remember to always leave room for feedback, this is how you will grow. [bctt tweet=”Finally, do not worry about starting small- good things take time- Evita Joseph Asare” username=”SheLeadsAfrica”] If you’d like to share your story with She Leads Africa, let us know more about you and your story here.
Webinar with Aisha Addo: How to start a non-profit organization (Jun 20)
Aisha Addo is the founder of Power to Girls Foundation, an organization that helps girls identify their true purpose and calling. Join us for a webinar with her on June. 20th, as she shares with us some of her tips on social entrepreneurship. Entrepreneurship isn’t just one thing. You can be an entrepreneur in a small business, startup, large company etc. But if you’re interested in making the world a better place, you’re on your way to becoming a social entrepreneur. You need to ask yourself – What type entrepreneur do I want to become? Aisha Addo is a social entrepreneur, who has dedicated her life to empowering women and young girls with her initiative – Power To Girls Foundation. She offers them the mentorship, guidance and the resources they need to achieve their dreams and excel. Join us for a 45-minute webinar with Aisha Addo on Tuesday, June 20th, 2017. We’ll be discussing what it takes to become a social entrepreneur, and starting a non-profit organization. Register below to get the exclusive link to the webinar. [bctt tweet=”Join @AishaAfua for a webinar on Tue June 20th to learn how to start a non-profit organization” username=”SheLeadsAfrica”] Some of the topics we’ll cover: Starting a non-profit organization Risk taking in social entrepreneurship Having confidence in your idea How to live your most authentic life doing what you love. Webinar Details: Date: Tuesday, June 20th Time: 11am Toronto / 3pm Accra / 4pm Lagos Watch here: About Aisha Addo Aisha Addo is a graduate in Business Administration Accounting, but her true passion and dedication lies in ensuring girls around the world are provided with the guidance and resources that’ll help them to reach their full potential. Aisha founded Power To Girls Foundation, a non-profit organization to offer young girls the mentors and role models that were absent during her own youth. She is a recipient of the Young Black and Gifted Award for Community Service, was named a Black Diversity Group Role Model and One of 100 Black Women to Watch in Canada, and also among the 150 Black Women making history in Toronto. Her latest initiative is DriveHER, the ride-sharing service for women by women.
Osayi Emokpae Lasisi: I desire freedom and confidence for young moms
[bctt tweet=”MoneyMaking Mommies creates online courses to help moms get comfortable with technology” username=”SheLeadsAfrica”] Osayi Emokpae Lasisi is the self-proclaimed queen of helping you get attention and make money online. She is the convener of the MoneyMaking Transition Online Conference and host of the MoneyMaking at Home podcast, where she interviews experts from all over the world and helps moms with online business skills. Osayi is also the author of the “Billionaire Mindset (for MoneyMaking Mommies)”, and “7 Days to the MoneyMaking Good Life”. As founder of the MoneyMaking Mommies Academy -now with over 2000 members, Osayi helps women to develop online products that make money. In this chat with SLA, Osayi takes us behind her MoneyMaking brand and shares tips based on her experience. As a business largely based online, what tools have you employed to grow your numbers? I do speaking engagements, and social media marketing. In my experience, speaking engagements have been amazing. Whenever I’m invited to speak, I’m able to share my love for what I do with the audience. It also gives me an opportunity to connect with people, and to invite them to work with me. I’ve always been a great speaker. I enjoyed being part of the debate team at Temple University, and for many years since relocating back to Nigeria people have told me that I need to go on the radio. So when I got opportunities to speak I knew that I needed to take advantage of it and use it to grow my business. From your experience, what’s one way Motherland Moguls can get attention online? Social media marketing is the best way to engage with fans and get attention online. Social media is amazing because you can segment people and send targeted messages to those that are interested in what I have to offer. Not only is social media marketing more precise than ever, it is also extremely affordable. Find the best option that suits your business and roll with it. [bctt tweet=”Osayi Emokpae Lasisi is teaching young Nigerian moms how to generate income online” username=”SheLeadsAfrica”] Tell us more about the MoneyMaking Transition Virtual Summit. The MoneyMaking Transition Virtual Summit was the first of its kind in Nigeria. It was a 6-day online conference targeted at helping moms transition from employees to business owners so that they can spend more time with their family. Some of our speakers were Dr. Godwin Ehigiamusoe, of LAPO Microfinance Bank, Mrs. Tewa Onasanya of Exquisite Magazine, Stephanie Obi, Bankole Williams. We had over 1400 people register, and between 400-600 people participated online every single day. My approach to the virtual summit is not very different from the norm. The main thing is that I enjoy interviewing people, so those who are invited guest experts enjoy the interview and are willing to also invite their friends. Those who participate and attend the event learn from the interviews as well, without having to spend an arm and a foot. Participants were thankful for the opportunity to learn, and their hope was resurrected, during a time in Nigeria when many people were discouraged. I’ll be having another virtual summit in April. In what ways do you generate revenue from your MoneyMaking venture? We create online courses to help women (moms specifically) get comfortable with technology (using the internet etc.). These virtual summits help us to get the message out there and to help bring knowledge from all over the world to women here in Nigeria. [bctt tweet=”Being comfortable with creating websites spells freedom to Osayi Emokpae Lasisi” username=”SheLeadsAfrica”] Why did you think it was important to teach moms how to create online stores and get comfortable with the internet? Not so long ago I was asked to resign from my job, and it was challenging. But after I got over being hurt I went and created a website and started selling a product. That helped me to regain my confidence and make some money while I figured out what I wanted to do next. Being comfortable with creating websites and using the internet spells freedom to me -I can be anywhere making money, just because I have the ability to create a website and sell my goods and services. That’s the kind of freedom and confidence I desire for young moms like me. What was surprisingly easy about hosting a virtual summit from Nigeria? I was surprised that people were willing to use their limited internet access (data) to watch these videos. If you’d like to share your story with She Leads Africa, let us know more about you and your story here.
Why your ‘I Can’ is more important than your IQ
[bctt tweet=”You can have a high IQ and EQ but still fail to create tangible results without this skill” username=”SheLeadsAfrica”] In the journey of entrepreneurship, it’s important that you walk with three necessary companions. They are your Intelligence Quotient (IQ), Emotional Intelligence Quotient (EQ), and the skill of I Can. IQ, which is a measure of intelligence, will tell you how to navigate this interesting but challenging journey. EQ, which deals with the understanding of our feelings and those of others, will make your journey less challenging. It will make your business that ‘person’ whom people are endeared to and are willing to be with no matter what. But you can have a high level of Intelligence as well as Emotional Intelligence Quotient and still find it difficult to turn your business ideas into tangible results. And this happens when you don’t have the skill of I Can. We call it a skill but I Can is a strong inner feeling that you can make anything possible. In running a successful business or building an enviable career, you can only go as far as your inner voice takes you. In fact, you can have an average level of intelligence but with the skill of I Can, you can go on to become a successful entrepreneur. How is this possible? For a very long time, many of us have been made to wrongly believe that having only business knowledge, skills and intelligence can make us become successful entrepreneurs. This article is about getting things right. Entrepreneurs don’t have two heads Entrepreneurs are often portrayed as distinctive individuals who are set apart from the rest of humanity. Not true. As long as you can employ the use of I Can to turn that good idea which you are passionate about into an enterprise, you can become a successful entrepreneur. Entrepreneurship goes hand in hand with failure and risk taking. You cannot hope to run a successful commercial enterprise without failing. In fact, the more you fail the better you become. Each time you fail, you have to pick yourself up. You need more than just intelligence to pick yourself up, you have to turn to the inner strength that you possess —and that’s your I Can. To challenge the status quo with your idea, to change the narrative of the market you’re willing to transform, you must take risk. In reality, the more risk you take as an entrepreneur, the more successful you’re likely to be. [bctt tweet=”Entrepreneurs aren’t distinctive individuals, to run a successful enterprise expect to fail” username=”SheLeadsAfrica”] Without self-confidence, you’re going nowhere When you have self-confidence, things begin to take shape. To rise each time you fail, to take risk in order to transform your dreams into tangible products and services, you have to have self-confidence. Making the choice of becoming an entrepreneur, as challenging as it is, is an opportunity of a lifetime to make a huge difference. It means you now have the chance of building a great legacy. You’re telling the world that your potential is not a waste. Each time you remind yourself of all these, your self-confidence jumps to a new level. Until you develop the skill of I Can and constantly say to yourself with a strong conviction that you can do it, your self-confidence might be just disappear. [bctt tweet=”Running on the conviction that you can succeed as an entrepreneur will take you nowhere” username=”SheLeadsAfrica”] Keep your eyes fixed on the ball To be successful at running a business or social enterprise, you have to be focused. Know what you want and where you’re going; set your eyes on the goal. No one understands your business goals more than you, so keep moving in the direction of your set goals. When you take a risk and probably fail, your self-confidence tends to wane. So you have to go back to the drawing board, dwelling on your ultimate goals, saying directly to your challenges that of course I Can. In the face of challenges, which are inevitable if you would become a successful entrepreneur anyway, your intelligence crumbles, your self-confidence is shaken to its foundation; however, holding on to the belief that you can still turn your dreams into tangible results is the only way to go. Nonetheless, having the inner strength and conviction that you can succeed as an entrepreneur will take you nowhere. Turning this conviction into a habit that is used on a daily basis will no doubt take you somewhere. And that’s what the skill of I Can is all about. Your I Can will help you break barriers The journey of entrepreneurship is a tough and long one, no doubt. But having the requisite skills, knowledge and intelligence can make it easy and short. However, having the skill of I Can will make it even easier and shorter. Downplaying the hype about entrepreneurship, building your self-confidence, and of course having focus can help you build the all important skill of I Can. And with it, you can go on to break barriers and build that business or career of your dreams.