PECADOMO: Innovation At Its Peak

pecadomo-semoFrieslandCampina Wamco’s most prized asset, Peak Milk is presently on an innovative pedestal to deepen and increase the consumption of its product amongst Nigerians. This has been made possible with the launch of its Pecadomo (Peak Can Do More) initiative, a very thoughtful and applaudable concept that asides telling you the benefit of Peak to your health also present various use cases of the product.

Not many Nigerians would have ever thought about adding Milk to popular dishes like Eba, Wheat, Semo, Abacha and even Poundo Yam but no thanks to Peak Milk, innovation just got real.

Quite remarkable and a bit pastel is that Pecadomo possesses the trappings of a national reorientation amongst all echelons and with the present economic reality, one cannot beg but ask if Change is a noun or a verb.

Even in the midst of these change banter, Peak milk still has a very big opportunity to actively explore the curiosity of the consumer and also retain his interest. Am sure it would be a grave faux pas if the first trial fails to convince the consumer.

The nutritional and health benefits of milk consumption to human wellbeing can’t be overemphasized with studies showing that Milk is a good source of essential minerals and nutrients like Calcium, Potassium and Vitamin D which helps heart and bone health.

As the dairy market thickens with brands like Dano, Three Crowns, Cowbell, Jago and more recently Popular, vying for the top spot, up beating strategies to capture the C-E which constitutes a larger percent of the consumer. It is only normal for the market leader to sit tight and explore.

Having had a strong root in the Nigerian market with over 6 decades presence and arguably the Market leader, Peak milk did step down its high horse recently to cater for the lower class. This was marked with the launch of the Wazobia pack earlier this year.

Would you love to add milk to your favourite meals or not? Kindly share your thoughts in the comment section.

APPLY-Social Intrapreneurship for Innovation in Health and Wellness

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Course Dates: November 7 – December 16, 2016
Rolling Admission between September 12th and October 14th

Course Description

In our rapidly changing world, employee skills—such as intrapreneurship, agility, teamwork, empathy and collaborative leadership— are fundamental to an institution’s ability to innovate and grow into the future. The pitfalls of ignoring these skills can lead to loss of opportunity and competitiveness, along with increased redundancy and inefficiency. Social intrapreneurship is a methodology for sparking, cultivating, advancing and scaling social innovation within institutions. It involves intrapreneurial employees capitalizing on trends such as technology advancement and globalization, and deploying agile, startup strategies. Check out why Forbes is calling the Social Intrapreneur the Most Valuable Employee of 2014.
Ashoka, one of the world’s largest networks of social innovators and entrepreneurs, has teamed up with Boehringer Ingelheim, a world-leading health company with a vision for “value through innovation”, to create a six-week online course in social intrapreneurship for innovation in health and wellness. This course is part of the global “Making More Health” initiative to explore innovative pathways with non-traditional stakeholders to improve access to healthcare. In this course, you will connect with a global community of participants from institutions across the private, public, and nonprofit sectors and convene to learn entrepreneurial and start-up strategies for creating social and business impact in the health and wellness space. Social entrepreneurs are also included in the course to enable knowledge exchange between innovators within and outside of large organizations.

In the course you will:

  • Prepare for a lead or supporting role in developing a health and wellness innovation with social and business impact
  • Gain skills and strategies to garner internal and external support for innovative projects
  • Learn how to collaboratively advance innovation in a bureaucratic setting
  • Become familiar with the intrapreneurial strategies of co-creation and prototyping
  • Connect with a network of intrapreneurs and innovators to share ideas, make critical connections, and get continuous support and feedback on your own innovation ideas
  • Engage with the Ashoka network, including Ashoka Fellows, staff and other innovators
Through the online dynamic learning environment, which utilizes Ashoka’s knowledge and networks in intrapreneurship, participants will join facilitators and leading experts in the field to discuss the topics above,  while exploring case studies, major trends and social business ideas, thus keeping you on the cutting edge of intrapreneurship.
Apply here

Where Does Change Begin?

fb_img_1473411772326The present administration rode into power on the mantra of change and many Nigerians did buy into it because the insight was apt but more importantly Nigerians were in dire need of change. But barely 16 months into power it seems this mantra has turned against them biting them at the back, as the only change the people believe they have experienced is a downward slide and an overburdened standard of living.

While some critics are of the opinion that these current mishap is majorly an administrative failure others hold firm that the administration of President Muhammadu Buhari is just a child born in a turbulent time claiming that there is a global economic crunch which includes Nigeria, not also forgetting the large scale of corruption that exists in the country.

Recent report from the National Bureau of Statistics reveals that the Gross Domestic Product (GDP) in real terms, declined by 2.06% at the close of the second quarter of 2016. This implies that for the first time in 20 years the Nigerian economy has plunged into a recession.

The Nigerian economy is presently in a state of comatose and a heightened brouhaha, with various multinationals daily suspending or closing down their companies due to the daily free fall of the naira against the US Dollars and many companies in the private sectors are also quietly laying off hundreds of their staffs.

I believe the government is developing innovative ways to combat this menace and providing sustainable solutions to the economic crunch the country is experiencing.

As one of the ways to salvage this situation the Federal Government has initiated a National Re-orientation campaign tagged ‘Change Begins With Me’. The campaign was set up to primarily entrench the values of accountability, integrity and inculcate positive attitudinal change amongst Nigerians. It is expected to trigger positive change that will boost Nigeria’s image, enable the country gain acceptability and command respect in the comity of nations.

According to the Minister for Information and Culture, “The campaign is not a replication of the War Against Indiscipline which the Buhari-led administration initiated in 1983 but that it would achieve the same goal using a different mean”. Noting that what is wrong with Nigeria is not limited to the elite, the political class or the civil service, rather the change we want must address all issues and target every strata.

An objective look at these initiative in relation to the present economic condition of Nigeria provides two different perspective. First is a deeply thought out and well-crafted declaration of incompetency on the part of the ruling party. One would recall that during the campaign season there was a lot of promises and ‘we will do this’, ‘we will do that’ if only you bring us into the helm of affairs but a cursory look at those promises prove that 90% of them are yet to see the light of day top amongst them is the provision of 3million jobs in the first year in office.”

A Nigerian columnist puts succinctly “Change does not begin with the average Nigerian. No, it begins with those who promised us change a year ago. They go into office and Nigeria turned out to be animal farm where clueless pigs replaced clueless animals.” She brings to bear that before Nigerians accept the new initiative there should be some display of integrity by the government and not some intellectual manipulation.

Second perspective is an admonition and a truth that change cannot be accomplished in isolation but a joint, mutual and harmonious effort. A re-orientation that change is essentially achieved if it goes through a bottom-top approach, quelling the perception that the government would perform magic overnight.

According to the president of Nigeria. “The campaign is all about the need for us to see change not merely in terms of our economic, social progress but in terms of our personal behaviour on how we conduct ourselves, engage our neighbours and how we relate with the larger society.

I strongly believe that change begins at both level for while the government is trying to educate and sensitize the populace on the need to lead a responsible life which would one way or another impact the progress of the nation, they should also live up to expectations and be an ardent doer of what they preach.

What are your thoughts?

Apply for The PitchIt @ LendIt Competition for Fintech Startups

LendIt, in partnership with Capital One®, introduces PitchIt (a competition for fintech startups) to its Europe agenda for the first time. This partnership will nurture emerging talent throughout the competition, provide selected finalists with unparalleled access to industry expertise as well as invaluable exposure at the leading marketplace lending event in Europe.

This is an opportunity for fintech startups have their pitches heard by the international fintech community, and to secure investment and partners by meeting investors. Receive mentorship from industry leaders as well as gain valuable exposure through global PR.

Benefits

  • Selected finalists will receive up to 2 free passesto LendIt Europe 2016
  • Selected finalists will receive up to $1,000 for travelto PitchIt
  • Winner receives a complimentary Bronze sponsorship packageat next year’s LendIt Europe conference (£7,500 value)
  • Winner receives a personalized mentor planfrom Capital One including mentorship from experts associated with Capital One Growth Labs, a partnership between Capital One and L Marks
  • 50% off Startup Zone boothsfor the eight selected PitchIt finalists

Eligibility

  • Applying organisation must be a high-growth fintech startup.
  • the organisation must have only raised less than £4M in funding.
  • Must have at least 2 full-time founders.
  • Must have created a working prototype with customer interaction.
  • Company must have been founded in between 2014 and 2016.

Deadline

Applications for Pitchit @ LendIt Europe 2016 are due September 12.

Click here for more information and to APPLY

 

Jumia’s Branded House: A Not so Brilliant Move?

Jumia made a bold leap into the Nigerian market in 2012 with the sole aim of redefining retail shopping in the country. This action engendered mixed feelings among many, as futurists applauded the unprecedented move into an untested space with skeptics holding a different opinion.

The skeptics did have a point knowing that since the inception of mankind, change hasn’t always been a good friend. Drilling down to a country like Nigeria that is deeply rooted in beliefs, religion and culture, change is not something you get with both hands. You either effect it by hook or crook.

Words on the street then bordered around trust (security and safety) and the low level of adaptation. To tackle this Jumia developed a clearly defined policy that guaranteed 100% secure transaction and even a pay on delivery options to consumers. This among other strategies eventually proved positive.

A white paper released last month revealed a tremendous increase in brand favourability and equity with the Jumia platform ranking as the 7th most visited website in Nigeria.

Innovative programs and customer loyalty campaigns also helped the brand battle misconceptions and perceptions of consumers towards e-commerce. A ready example is Jumia’s localized version of Black Friday which literarily ‘broke’ the internet. 2015 edition saw a site visit of 2.3 million Nigerians in 24 hours with products being sold out in less than 2 mins. This doesn’t absolve them of backlashes received from displeased customers who felt conned and deceived.

TRANSITION FROM HOUSE OF BRANDS TO BRANDED HOUSE

Kotler and Keller puts the house of brands strategy as the use of individual or separate family names while branded house strategy is the use of a centralized or umbrella company brand name in relating with the customers. Big companies like Microsoft employs the former strategy with products like Xbox, Skype and Bing operating in a decentralized format while Google applies the latter.

Jumia, Jovago, Kaymu, Lamudi and others are offshoots of the Africa Internet Group with Jumia being the most successful of these start-ups. Jumia thrives on heavy investment and brand credibility. This recent change essentially implies that other start-ups would leverage and directly benefit from these attributes.

The new structure: With Kaymu becoming Jumia Market; Jovago now Jumia Travels; Hellofood is now Jumia Food; Vendito now Jumia Deals; Lamudi now trades as Jumia House; while Carmudi is now known as Jumia Car. The effect of these brand adjustments mean that consumers can now access all these services using a single Jumia account, also prominent is the fusion of all their individual websites into Jumia’s website.

BRILLIANT OR NOT SO BRILLIANT MOVE?

Jumia, in its four years of redefining retail experience in Nigeria has been able to acquire a good number of loyalist and customers. Dealing in a once estranged digital space with Konga, doling out innovative campaigns and affiliate programs that position the brand as credible and trustworthy. With this in place Jumia decides to play the saviour who acquires the burden and excesses of other relatively unknown platforms which is good knowing that they can leverage on the credibility and recognition of the main brand.

On the flip side, Jumia is well known in the industry as an online shopping store and not a restaurant aggregator or a car purchasing platform. This I believe won’t easily sit well with the consumer. Winning in any industry requires focus, commitment to a known position and channeling of energy and resources into that chosen field, a deviation from that often incurs ripple effect, quite similar to my prediction on Star Lager Beer.

This begins to look like a Jack of all trade, Master of…, well that may be too quick to conclude. I am personally still trying to wrap my head around the difference between Jumia Market and Jumia (Shopping), knowing that the fundamental idea behind a market is for customers to locate products or services of interest and make payments for such. Reconciling Kaymu (Jumia Market) with his new name still comes out puzzling knowing that its direct competition is OLX but then again Konga is presently positioned as a market place whose competition is Jumia. I believe to an extent Jumia online shopping should have assumed the name Jumia Market while other sub-brands fall under it.

Mark Essien, Founder/CEO, Hotels.ng (Nigeria), sharing similar sentiments on his direct competition Jumia Travels says “This strategy of trying to leverage Jumia’s popularity to sell the other brands will work only partially. When people see Jumia, they associate it with buying something; it is difficult to reconcile it with the idea of also booking a hotel through the same Jumia. It is like walking into a supermarket to book a flight. It just does not flow naturally.”

All Eyes on Jumia: This move expands its scope of competition. The new positioning sets Jumia against competitors in Industries like Real Estate, Travel and Automobile.  Deploying its resources on winning share of attention across these fields might be spreading out too tin with very little effect. Jumia looks strong on investments but fighting different battles at a time might not be too favourable with the possible outcome being the death of some of these sub-brands.

The notion behind a brand subsuming associated ventures is to simplify customers’ interactions with the brand, improve perception and ultimately increase brand equity. Time will tell if these new structure will pose as a threat to the growth of the brand or as a spring board to leap forward.

What do you think?

BAD ECONOMY IS GOOD FOR BUSINESS

The major characteristic of a bad economy is an economy with high inflation rate.

Let’s understand a few techniques to grow your business with inflation.

Investopedia defines inflation as a sustained increase in the general level of prices for goods and services.

All over the world, inflation has become a ‘viral disease’ that is gaining momentum in its torment in many countries. Here are a few facts about inflation:

It’s a global problem

It can never stop

It could fluctuate but will always be on the increase

It can be very advantageous for a good business person and could destroy a bad business person

Inflation causes a lot of economic hazards

A bad economy can help young brands become popular easily and grow market share. Likewise, it could help known brands maintain customer loyalty and increase their market share. How?

Inflation comes with a trend and involves every player in the production/distribution chain. For instance, when price of raw materials go up, price of production goes up, manufacturers increase their price of supply, wholesalers are next, and retailers are next, then the final consumers complain the price of goods have increased. In some cases, inflation is caused when some players in the distribution chain choose to hoard products that are of necessity, thereby shortening the supply and increasing the demand.

Whatever the cause of inflation, you can use it to your advantage. Here’s how;

In a bad economy, people want to spend less and get more, that is, they want more value for their money. You can leverage on this.

You, as a new brand in the market, having to compete with established brands can manipulate inflation in your favor. This strategy is adaptable if you’re not profit oriented but value oriented.

When business starts going bad for most companies, they cut down their expenses beginning with advert budget, laying off some staffs etc. Often times, this isn’t the best solution.

When business is going down, that’s when you should spend more. Spend more on adverts and sales promotion and not otherwise else your products become less visible in the market.

Now my question is; ‘how do you intend to revive your sales when you’re no longer advertising or running promos’? Don’t cut down on advert cost.

The next step is either to maintain your price, offer more sales promotions or use coupons/price slashes. Of course, this will mean lesser profit but more market share, loyalty and patronage. This means you make your profit based on quantity and not quality of sales. Of course, this strategy cannot work for all brands, but will definitely work for most upcoming brands. The most important point here is to never reduce your quality, but rather increase advert and PR regardless of inflation. By so doing, you will later on increase your price, and by then you’d have created loyal customers.

Leverage on digital marketing, it’s cheaper and more effective


When you offer people more value for their money, they become addicted to your service.

Another strategy if you have an already established market and your product is of necessity, could be to hoard your products and when demand increases, you distribute the product with a sales promo that will pose as a threat to your competition and not only will your customers be happy to have your products back, even the marketers would be happy to sell a now available high demand product on promo.

Smart investors also like inflation because it’s usually the best time to invest. Take real estate for instance, the value never reduces but rather increases when the economy is bad, likewise, failing prominent businesses are more likely to sell shares/ownership during down-times.

Though times of hyper-inflation might be the worst time to purchase some goods from the international market, but sometimes it’s also a good time to find local merchants desperate to make some money in a bad economy.

Please note; I’m not advising you to take advantage of people, I’m only advising you to understand the times and increase your financial IQ.

I’ll reference the men of Issachar in the bible who understood the times. You can rule your 

By Ehlwittee

Success Has Its Secret Recipes #SpotOn

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The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand. -Vince Lombardi

It is not every day you come by a smart, passionate and intelligent young lady thriving and leading in a male dominated industry.

In this edition of #SpotOn Google certified professional Modupe Ogunyemi, Head of Digital and Mobile Marketing, Konga Online Shopping, has out of her busy schedule shared inspirational and vital success recipes that has guided her over time and has kept her flourishing in the Digital sphere.

Enjoy the chat but more importantly apply these truths to your life.

  1.  What has been your secret recipes to success over the years?

I would say determination, faith, boldness, willingness to take risks and refusing to settle for less. It definitely is not an easy ride to the top and I am still very much on the journey but these are my guiding principles. It also is very important to continue to self –innovate and add value to yourself.

2. Have you ever failed at an endeavor before and how did you handle it?

Someone said, show me a man who has never failed and I will show you a man who has never tried. Of course I have failed; not once, many times. You cannot let the fear of failure stop you from doing something, just do it! If it works, fine, if it doesn’t then you’ve learnt one more way of not doing it. That experience is valuable beyond words. So I think it’s okay to fail, as long as you don’t stop there and give up. You have to get up each time and keep going. Do you know how many times the Wright Brothers tried before finally inventing the aeroplane?

3.  How do you stay afloat in a male dominated industry?

Oh really? I didn’t realize I was in a male dominated industry, hahaha. To be honest, I don’t see gender at all. I only see a collage of smart people who are steadily making their way to the top and I choose to be one of them. Life is a choice, you either choose to get ahead or you choose to remain behind. If you let all sorts of issues deter you from your goal, then you are choosing to remain behind.

 You cannot let the fear of failure stop you from doing something, just do it! If it works fine, if it doesn’t then you’ve learnt one more way of not doing it.

4. What are the most important life lessons you’ve absorbed while at Konga Online shopping?

Hmmn, I think this question is better answered much later than now, when I would have spent a longer period at Konga. I’m still relatively new there so I’m still absorbing albeit at a fast rate as it’s a place that is filled with incredibly smart people which I love because iron sharpens iron.

5. How did you come to develop interest in Digital and Mobile marketing?

I’ve always been fascinated with the internet. Back in the days of dial up internet with Multilinks, Starcoms and co, I had my own personal subscription outside of the office and I would spend hours and hours just browsing. I used to wonder if there was a way I could turn this hobby into a job but I didn’t study computer science so I didn’t know how. Then I went to the UK to study and I became exposed to an entire digital marketing industry that I didn’t know about before. I realized that I didn’t need to have an IT background to have a career woven around the internet. So I was very excited and I looked for training opportunities after I completed my Masters. It was a very deliberate career pivot for me from traditional media to digital media and I have enjoyed it thoroughly. Mobile is simply an onward extension of my foray into digital marketing. While I was still working in the UK, I noticed how the dynamics of site traffic were shifting slowly but surely into mobile. Mobile traffic was beginning to decimate desktop traffic and so it was only logical for me to try and understand that channel.

Life is a choice, you either choose to get ahead or you choose to remain behind. If you let all sorts of issues deter you from your goal, then you are choosing to remain behind.

6.  Your three most inspiring books would be?

Ah! I read a lot so it’s hard for me to pick a top three. But if I must pick I would say:

  • The Master Key System by Charles Haanel,
  • Think And Grow Rich by Napoleon Hill,
  • The Secret by Rhonda Byrne

7.  What’s your candid advice to budding individuals?

Know what you want in life. That is my singular most important advice to young people. Know what you want and work towards it. You will achieve success faster if you have a clear and definite purpose in mind and you are working towards that goal.

Watch Out for the next edition of #SpotOn!