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Traction Channels: How to Gain More Customers

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It all started with the urge to my mama’s business grow. I reached to a mentor to update him about my next plan and it went something like this…

Me: I am looking to increase the sales of this product loved by everyone who has come across it and my strategy is to use Facebook ads and YouTube ads.

Reply: don’t be fixated on channels, fixation won’t help you. You might think one channel is best, but another might give you what you require. Get the book “Traction: How Any Startup Can Achieve Explosive Customer Growth”.

And my friend that reply changed everything about my approach to business growth and generating traction for business.

In this article, I bring to you the first set of a lesson I learned from reading the book. And that is the 19 traction channels available to you. Yes, a whopping 19. My advice to you as well as that don’t be fixated, experimenting doesn’t hurt, and it doesn’t have to cost much. Try out all you consider worthy for your product and within the threshold of acceptable lose.

Traction Channels

My focus will be on 3 of those channels that are low cost

  • Content marketing

Unbounce a startup in the business building landing pages was used an as an example here and founder has this to say:

“We had not started blogging at the beginning the way we did, Unbounce would not be here today. … Our content still drives customers. Something we wrote in January 2010 still drives customers today. 

Have you heard the saying “the internet never forgets”?  That is true in all ramifications, it never forgets. That is why the content of 2010 can still be alive to generate new customers about 6 years later.

Content marketing is about creating blog posts that give your business a hedge, a hedge that aims to convert the reader of such content to a new customer. Its advantage over the use of ads, for example, is that ads can only work for as long as you keep paying for it to run. Content lives forever wherever you posted it. Contents, intentionally written can be a catalyst for business growth through customer acquisition.

  • Community building

This while it may have always existed, the internet democratizes access to it removes geographical and cost barrier that may have rendered it unviable. Stack Exchange is a potent example of reference here. Stack Exchange is an online community where people share their technical challenges and other people offers a solution to the said challenges.

People want to feel like they’re part of something bigger than themselves. You need to have a mission if you want to build an awesome community. A powerful mission gives your community a shared sense of purpose and motivates them to contribute.”

This was how the team at Stack Exchange built the awesome community that a lot of techies rely on now.

But you need to ask yourself first if your business requires a community to thrive, and how best you can state your mission to be to attract motivated individuals who will be part of your mission. 

  • Speaking Events

“speaking is funny. You know to me, it’s the old-school concept that teaching sells. . . . Teaching is what content marketing is all about: webinars, blog posts, and the like. I look at [these] things as the future of good marketing. The opportunity to teach and be in front of a room for forty-five minutes introducing your company and your story to potential customers is time well spent.” –  Dan Martell, Founder of Clarity

I share his sentiment, think about Apple launch events, the representatives of the company tell a story of the new product that is about to be released and the whole room is expected to buy into it. The way that story is told always matters.

Now, you may not that kind of Apple opportunity but if your product is great that you exist in the limelight, chances are you will be invited to give talks at someplace sometime. Take it up and use it as an opportunity to sell your story to your audience and those that will hear it later.

Do not waist any growth opportunity that presents itself to you.

All who start-up business do so with the expectation that they will reach profitability and grow their product or service acceptance among customers. The “how” is what is usually not clear. It is in search of the “how” that also led me to the book Traction. Above I highlighted 3 channels that almost anyone can afford but which only requires work. I hope you find them instructive and get to work just as much as I am going to my drawing board now.

Below is the list of the 19 channels

  1. Targeting blogs.
  2. Publicity.
  3. Public Relations (PR)
  4. Unconventional PR.
  5. Social and display ads.
  6. Offline ads.
  7. Search engine optimization (SEO)
  8. Content marketing
  9. Viral Marketing
  10. Email Marketing
  11. Engineering as Marketing
  12. Business Development
  13. Sales
  14. Affiliate Programs
  15. Existing Platforms
  16. Trade Shows
  17. Offline Events
  18. Speaking Engagements
  19. Community Building

And here is the link that gives you more insight into each of the channels

Book link

Faith Nwaobia discusses the biggest event happening in Niger Delta region

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Networking is the best thing anyone can spend time building. They say, ”Your network is your net worth.”

When you try different things in different ways and it’s not working, try to do it differently by networking. Faith Nwaobia spends some time to talk about the biggest event in the Niger Delta region.

Can you please introduce yourself to the audience?

Thank you, Chinedu.

My name is Faith Nwaobia, I am a social selling consultant and a LinkedIn brand strategist.

I can’t deny that. I must confess that I love your work online and I have much respect for you. I see from your work that you promote entrepreneurship, can you share more about that?

Aww, thank you for the kind remarks, Chinedu. 

Sure I support entrepreneurship because that’s the only way we can come out of the problems of unemployment in Africa, particularly in Nigeria.

My team and I have embarked on a mission to revive the spirit of apprenticeship in our young people by encouraging them to consider it as an alternative to white-collar jobs which is hardly available after graduation from the university.

We are also developing a platform to educate Africans with trending digital skills through a digital school with partnership from an entrepreneur in US Mowlid Aden. 

Of course we are not leaving the aspect of exposing young people on how they can make legitimate income through the internet as media strategist especially the LinkedIn platform which offers amazing opportunities.

So I can say the journey has been an awesome experience so far.

That’s a great course, my bro. I love your hard-working spirit. Then one thing I have seen from you sharing online recently, LinkedIn Local Port Harcourt. Can you share more about the event?

Oh, that’s definitely a must for me to share.

Yes, recently I took my time to examine how much impact the LinkedIn platform has made in Africa, then I discovered that it’s in Nigeria you have the most active users in Africa; and coming to Nigeria, everything seems to end in Lagos. Yet we still have a great number of professionals and businesses outside of Lagos, especially in the Niger Delta Area of Nigeria. 

The pattern here hasn’t been favourable when it comes to professional networking, unlike in Lagos. Even Chinedu, I can vividly state that most professionals working in Port Harcourt do not know fellow professionals in other industries let alone from other neighboring cities. That’s bad for business and commerce. 

This is why we are leveraging the LinkedIn Local Platform, which is the biggest social networking event that connects business leaders and professionals to integrate and develop together.

This LinkedIn Local that will be held in Port Harcourt isn’t just for Port Harcourt residents but for all people working and also for business people in Niger Delta. 

There would be amazing career and business expos, executive masterclass and recognition of key brands in Niger Delta that have contributed in expanding business and career opportunities in the region.

I don’t think it’s an event anyone would want to miss.

What would job seekers, entrepreneurs and corporate organizations gain from this event?

For jobseekers, in fact, that’s the best place to meet your next employer because almost all the key players in the industry and even recruiters are well represented. That’s like the best biggest career expo ever in the region. Equally it would be an opportunity to learn new job search strategies and interview techniques required to make it through a successful career transition.

For Entrepreneurs and Corporate Organizations, the event will be a platform to form alliances and collaborative partnerships with both within and outside markets as many other industry players from outside Niger Delta will be available to share ideas on possible market expansion and integration. Equally, we are looking at ensuring that all brands that would be present would receive a regular brand promo using our LinkedIn platform to showcase their services and products to the global community, with the opportunity to join the business directory list being developed by the LinkedIn Local community in Niger Delta.  

Whichever party that would be around, even for recruiters who we are designing a session for a masterclass on the trending hiring processes and strategies to manage the different generations of workers especially the generation Zs.

I see a very big breakthrough for anyone involved. Where can people purchase tickets for this event?

The tickets are now available online via: https://linkedinlocalph.com/register/

There are different packages for each intending participant whether as an individual professional, freelancer or a corporate body.

That’s awesome. What should we expect from you in the next five years?

That’s a long time brother,……laughs

Okay In the next 5 years I want to see that I have developed more than 1000 young people doing best for themselves as entrepreneurs or intrapreneurs.

That kind of success is what would make my 5 years time an amazing future.

Thank you, Faith, may your dreams come true.

Amen brother,,…and thank you for having me here. I have always admired your work. 

Keep helping to light up humanity.

How Transsion Holdings Became A $4 Billion Company by Leveraging On Design

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For the uninitiated, Transsion holdings is the parent company of Tecno, Infinix and Itel. Recently, they had their IPO (initial public offering) on the Shanghai STAR exchange, a Chinese based exchange reserved for companies in the tech space and they raised 393 million USD, valuing the company at 3.95 Billion USD. Transsions IPO prospectus reveals some surprising facts, one of which is that 2018 revenue was 3.29 Billion USD, and they hold a whopping 64% of the feature phone market in Africa, with Nokia following them as a distant runner-up with 10%. In terms of unit sales, the three combined Transsion brands (Tecno, Infinix and Itel) control a combined smartphone market share of 36.2% with Samsung coming in at second at 23.9% and Huawei at 11.4%. 

The big question, however, is how did a Chinese company that was relatively unknown about 12 years ago end up having such a hold on the African Smartphone and feature phone scene? The Secret is in Design.

Design

In an article, I wrote about what design meant to me, and how design is much more than the product of design (well designed logo or banner, software user interface or a Hardware Product) but more about the process of design, or what has now been popularized by the term “Design Thinking”.

Design thinking is a five step iterative approach to problem solving used by designers and popularized by the team at global design Consultancy IDEO. Design thinking in essence has five steps; Empathize, Define, Ideate, Prototype and Testing. The Success of Transsion Holdings was made possible by the efficient execution of one of the five design thinking steps; Empathy.

Empathy

 Design is human and people centered, therefore the foundation of Design is Empathy. Empathy isn’t assuming you know why and where the shoe hurts, Empathy is about wearing the Shoe, and finding out for yourself where it hurts. Your chances of building products that connect with people are heightened when you develop true Empathy for your users and consumers, because not everyone that is frowning their face is angry. Some are hungry. Empathy will help you know the difference.

Design doesn’t try to influence human behavior, it adapts to it.

At the root of Transsion’s success is Empathy. Transsion’s understanding of the Nigerian (and by extension African)market and consumer has empowered it to position its product in the right place to solve the Jobs to be done (I’ll get to this later) of the Nigerian and African consumer. Here are some steps they took:

Dual Sim

 Transsion originally started with one brand; Tecno. And at the initial stages what they made were primarily feature phones, their phones weren’t necessarily high quality, and as for those who remember those days, those phones were nicknamed ‘Chinko’ phones. Be that as it may, Transsion noticed a gap in the market; the average Nigerian consumer liked having two phones, so, they took advantage of that information and began to design dual sim phones, today the rest is history, almost every new feature phone and/or smartphone launched into the Nigerian market comes with Dual sim capability. Transsion pioneered it in Africa.

Pricing

The average Nigerian is price conscious, very price conscious, if you sell a product in Nigeria for an exorbitant price that doesn’t already have a solid brand, and your market is the Average masses, you may need to re-strategize if you don’t want to go under. The average Nigerian is willing to choose one product over another based on a N1,000 ($2.78) difference in price. Transsion understanding this consciously made an effort to keep their phone prices down. Five years ago, at the end of the road for BlackBerry, people began migrating to either Android or IOS devices, but there was a problem, it was pricing. The two major Smartphones then were Samsung and Apple, which really didn’t solve the pricing problem (they exacerbated it). This was where Transsion saw an opportunity and grasped it. The first batch of Tecno hardware was so cheap, I remember a specific model was so cheap it costs one third of a hundred dollar!!!!.

Focus on what matters, ignore what doesn’t

There are very few technology companies as focused as Transsion. To achieve the right pricing, Transsion has to be focused on making sure that their phones don’t carry specs that are not necessary, and since they understand their market, it hasn’t been difficult to do. Being focused means not putting specs that are good on paper, but add little or no noticeable value to the user. To cut down on processor cost, they use Mediatek chips instead of Snapdragon, which are more cost effective for managing mid to low range Smartphones. They know you don’t need a high resolution OLED display, you also don’t need a 90Hz screen refresh, so it’s not included to avoid bumping up the retail price, wireless charging is nice, but for now it’s not a deal breaker, Phones are made of plastic as against Glass to save cost, in the end efficiency and good decision-making is really the backbone of their strategy. Things like the face unlock, all screen displays, fast charging and even a fingerprint scanner all have considerable value to the end user and are added to the product. Whatever is primarily a buzzword feature stays far away.

It’s a Numbers Game

Business executives love numbers, so do Nigerians. Although Transsion is a focused brand, they know when to play with numbers to attract your attention. Quadruple camera setup (4 Cameras in a phone), 32megapixel front facing camera, 4000 mah battery, 4gb of RAM, 64gb of internal storage, these are largely designed to draw the end users attention. In reality, the number of camera’s doesn’t determine how good a photo is, the Google Pixel 3, arguably one of the best photography Smartphones in the market has only one camera, most of the heavy lifting is done by computational software. Transsion understands well enough where to put numbers to draw the users attention and makes the most of this.

Some other strategies employed by Transsion include having a portfolio of three brands, meaning customers have a wide array of products to choose from instead of being stuck to one product from one brand.

How Does this Help me?

Empathy is the first step in Design thinking, if you will succeed in business, you must apply the principles of Empathy. Without a deep and thorough understanding of your consumers, and the market you intend to operate in, you run the risk of providing products and services that people don’t need or find valuable

 People do not buy products because they want to, they buy products because they want to “be”. There’s something we call the Jobs To Be Done Theory, your product isn’t just a ticket to perform an action by a user, it’s a way to bridge a gap between where a user is now and where he intends to be. Your product bridges that gap. Transsion bridges the gap of affordable premium, and democratizes the Smartphone experience. If your product will be successful it must locate a specified gap and bridge it for the intended user.

Conclusion

Empathy is key to success in business, if you can’t see from the eyes of your users, then you really can’t see at all. 

Tekedia Mini-MBA Webinar for Week 1 – Now 4pm Lagos Time Today (Feb 15)

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Update: This event will now take place at 4 pm Lagos time today. We have figured out a way to run this via in-browser with no installation. Link provided in the class Digital Board.

Original Post

The Webinar link for Week 1 of the Tekedia Mini MBA is active; it begins at 4 pm Lagos time today. This week has focused on the The Innovation of Firms. We would be discussing the feedback, questions, comments and your live questions. Everything will be recorded in case you cannot make it. But where you have time, go to Week 1 Digital Board to connect to the Webinar.

Tekedia Mini-MBA continues to welcome new registrations. Our program is designed in such a way that you can join at any time. We have archived and recorded all materials. Visit here to register using any of the registration options.

The 360-Degree Team

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Two Questions from Tekedia Mini MBA Discussion Board

  1. A Founder who is more focused on the technical aspect in building his project could find it quite hard to integrate the business model canvas template for his growing start-up, why is it so?

  2. Do you think that he should focus more(as a CTO) on the technical part, and hire more business-inclined personnel to do it for his start-up?

My Response here:

On the questions, it is always recommended for technical-only founders to have business-skilled people around them since they have limited business skills. Technology is very important; yet, it is nothing but a tool. It does wonders when there is what I have called “friction-purpose” superimposed on it. Simply, you want to be sure the business model is sound based on many factors. Most times, tech-only founders cannot deliver on that. 

Yet, this is not a binary: you can be a techie and still understand business very well. But where that is not the case, get help by hiring someone that will complement you from the business side. Bill Gates had Steve Balmer in Microsoft, Mark Zuckerberg has Sheryl Sandberg in Facebook, Google boys had Eric Schmidt.

In some cases, the business mentors could be invisible but someone is playing the drum for the music the Aneke bird is seen dancing by the roadside.

You need a team that is complete with capabilities on tech and business strategies: the 360-degree team. Next week lectures will focus on those strategies and I am sure working on the canvas will become easier.

https://www.tekedia.com/mini-mba/