Banks of the Future Would be Platforms; UBA Unveils Radio Channel, RED Radio

Banks of the Future Would be Platforms; UBA Unveils Radio Channel, RED Radio

A few hours ago, I wrote how Nike, the athletics wear brand leader, has improved its financials by working to control demand, over just focusing on the supply of the products. In the last few years, Nike began selling directly to customers, capturing more values over mere reliance on departmental stores like Macy’s. But the biggest element  of its redesign was its efforts to build a community around the brand. Yes, with Nike athletics club and training app, Nike has seeded a tribe, and in the process disintermediated many partners, improving margins along the way.

The success of Tekedia Mini-MBA is partly based on the fact that Tekedia has demand. Yes, we have users who come here to read us (Thanks). Without those users, the traction we have would not have been possible. At a larger scale, you can also say the same thing for Facebook which is doing many things (shopping, events, etc) simply because it has the users already. Indeed, if the users are already in-house, getting more from them becomes easier.

On that construct, leading firms are doing everything to bring those users into their ecosystems. Nigeria’s United Bank for Africa (UBA) is executing that playbook with its REDTV. Now, the pan-African bank has launched an online radio channel called RED Radio. You would expect RED Radio to help the bank bring new users and keep them within the UBA ecosystem. 

“Creativity and innovation are a powerful combination and every detail in an art piece is important and meaningful. This applies to growing businesses and budding entrepreneurs. You will encounter challenges, like I did, but each experience is a lesson that brings you closer to your goal. That is the beauty of creativity.”

Continuing, Elumelu remarked, “There are many ways to make something beautiful, to make a sound interesting or to bring a story to life. You can define your expression, and today, as UBA’s RED Radio launches, I wish Bola Atta and her enterprising team many successes through this beautiful medium of expression.” Group Chairman of UBA, Tony O. Elumelu

 

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One thought on “Banks of the Future Would be Platforms; UBA Unveils Radio Channel, RED Radio

  1. To create demand or build a tribe, you must really be doing something that draws people, and offer experience that isn’t easily obtainable elsewhere.

    A bank can launch an online radio, but it will take uncommon programming to attract and keep people there; that’s where the real work has to take place.

    When will universities here elevate their game, such that even after graduation, they can still keep their alumni as their own tribes? For now their relationships with their customers are purely transaction; innovation is equally needed in that space.

    When you know how to draw relationships, you realise that those who run hospitals or clinics should equally own fitness centres; that way, whether you are healthy or sick, you will need their services…

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