This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is consumer biases. We hope that you are both entertained and educated by this story. There was a founder who had the ambition to compete with a thirty-year-old market leader. He had good intentions and wanted to offer more competitive products at […]
Author Archives: Udu Consult
08
Apr
Apr
It can be disheartening to hear about startups shutting down, especially when they have raised a significant amount of funding. Recently, Thepeer, a Nigerian API startup shut down after raising $2.1 million in seed funding in June 2022. According to a report by TechCabal, the company cited “compliance issues and the overall acceptance of wallets […]
02
Oct
Oct
Are you struggling to create realistic customer projections for your business or startup? One way to identify which market to enter would be to determine the addressable markets. The addressable market can be categorised into three: Total Addressable Market or Total Available Market (TAM), Serviceable Addressable Market (SAM) and Serviceable Obtainable Market (SOM). For example, […]
10
Jan
Jan
It’s a new year so there are bound to be new goals. Are you planning to launch a new product or service this year? That’s awesome! But before you dive in, have you thought about what makes your offering unique? What sets it apart from the competition? Identifying a unique selling point or proposition (USP) […]
20
Dec
Dec
When most local brands think about signing a brand ambassador the only criterion they consider is the popularity of the celebrity or influencer. But this time, we have a case study that looks like a win. Last week, Teesas, an EdTech start-up signed Mercy Johnson as its brand ambassador. For a business that is less […]
22
Nov
Nov
For a while, there have been debates about the strength and staying power of the Davido brand. A few days ago, the artiste put his brand to the test when he posted a video on Instagram asking his friends for money. He followed the Instagram video by posting his account number on Twitter, and in […]
04
Jan
Jan
Happy New Year! A new year is typically associated with new energy and goal setting. Despite the disruptions businesses experienced in 2020, we are hoping that you are energised. Here are three suggested business goals for your small business to consider this year. Increase revenue This is a no-brainer and typically atop every business’ list, whether […]
12
Oct
Oct
A few days ago, Brand Communicator published an article titled, “#ENDSARS: To get involved or not? IMC professionals examine why silence may be detrimental.” The writer presented some valuable perspectives whilst comparing #EndSARS with #BlackLivesMatter. The writer states, “Many Nigerian celebrities, influencers and public figures have also thrown their weight behind the campaign and protests, with some of […]
04
Aug
Aug
Today, some marketers challenge the relevance of longstanding marketing planning frameworks that were introduced in the 1950s and 1960s, describing them as outdated. But with businesses going topsy-turvy in 2020, lots of small business owners are re-strategising and a marketing planning framework or two could come in handy. During the peak of the COVID-19 pandemic, […]
29
Jul
Jul
COVID-19 has had a varied effect on different sectors. Travel and tourism were completely grounded to a halt due to the lockdowns and travel bans; e-commerce and tech companies have seen an upswing in revenues and other sectors like fast-moving consumer goods have been impacted mildly or moderately. The Seven-Up Bottling Company has been known […]