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Obsession over customers, not competition – The Impeccable Strategy

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  • Obsession over customers, not competition – The Impeccable Strategy

The preliminary theme of the most competitive analysis is a question: Who is your competition? That’s because most companies view their competition as another brand, product, or service. However, insightful leaders and establishments go extensive.

The question is not who your competition is but what it is. The realistic response to this is this: Your competition is any and every difficulty your consumers bump into along their journeys to using your company’s products.  To reinforce my point, I will give a little illustration.

When I read about the fintech industry in Nigeria – I see a lot of work done from all the top players in the sector. I am particularly impressed by what I read and perceive Renmoney on the country’s media. So when I visited Nigeria, I wanted to get a first experience of the brand.  I was going to review from afar the work that fintechs in Nigeria do. In fact, Renmoney was top of the mind for me.

Renmoney operates under the licence of a Microfinance bank but is in practice a fintech lending company. I must say that to have communicated their brand as fintech was indeed a customer-centric idea that I found creative. How else do you want to effectively approach and cater to the public if you drag the tag microfinance around you? Everyone knows how it is such a turnoff.

During my last visit to Lagos, sometime in March this year, I was impressed by the firm’s advertising strength but then that was not all. In fact, much more than that, I was impressed with the perception of most people interacted with about the brand. Having a combination of a mobile kiosk, an online platform and the usual brick-and-mortar are clear indications that this fintech company is headed for a more disruptive 2020. A clear indication of this is Renmoney’s mobile kiosk that I saw around some parts of Lagos from Surulere to Ajah and some other locations. These are the locations I can recall. This service was singularly bringing credit to the public. Imagine, thinking you need the money and as you turn around, you sight a Renmoney mobile lending kiosk. Brilliant, right?

At the end of the day, it’s your customers who have the ultimate idea of what is good and bad about your services. It’s your customers who buy your products; and in all truth, it’s your customers who will keep you in business. There are four good questions to answer in learning about your customers.

  1. Who are they?
  2. What motivates their behaviour?
  3. Where do they spend most of their time doing and at where?
  4. What are they saying about you?

Let’s start getting to know your customers, as intimately as possible. In fact, obsess over them.

Amazon CEO Jeff Bezos once said, “If we can keep our competitors focused on us while we stay focused on the customer, ultimately we’ll turn out all right.”

By Jude Adeyinka

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Npower Batch A and B Beneficiaries Can Now Access NEXIT Portal

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Exited Npower beneficiaries of batches A and B can now access the NEXIT Portal, according to Nneka Ikem, the Special Assistant, Media & Publicity to the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Farouq.

Here is how to register on the NEXIT

1. Visit the Official NEXIT Portal by clicking here

2. Then enter the email address you used for your Npower application.

3. Create and set up a new password on the NEXIT Portal

4. Now enter your name as registered on your Npower profile

5. Kindly input your Bank Verification Number

6. Finally, agree to the terms and policy and hit the submit button.

The next stage is to re-enter your email address on the activation page. Once that is done, go to your email and click the activation link sent to your e-mail.

Now login into the NEXIT portal with your credientials and complete the questionaire.

The portal was introduced to engage exited Npower beneficiaries through the Central Bank of Nigeria’s job options.

On Monday Hajiya Sadiya Farouq said “The NEXIT portal is to determine the suitability of the beneficiaries for the CBN affiliated programs and is dependent on meeting the criteria and conditions set by the CBN for the said programs”.

“The Federal Government of Nigeria is very proud of the milestones you have achieved during your period of service to the nation. As we prepare to exit into prospective endeavors, we are confident that you will be able to channel all you have learnt over the years into successful ventures that will improve the economy of the country and create further opportunities for you and other citizens.

“Chasing a dream requires effort, passion and hard work which you are now halfway through. I congratulate you and wish you a very successful future”.

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Pfizer, BioNTech COVID-19 Vaccine to be Available to UK Resident on Dec 7

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The United Kingdom is planning to approve Pfizer and BioNTech COVID-19 vaccine in a few days, according to government officials.

According to the officials, deliveries of the COVID-19 vaccine would begin a few hours after authorisation and the first injections could take place on December 7.

UK Prime Minister, Boris Johnson, has named Nadhim Zahawi, the current junior business minister, as the minister responsible for the deployment of the vaccines.

Britain said on Nov. 20 it had formally asked its medical regulator, the Medicines and Healthcare Products Regulatory Agency (MHRA), to evaluate the Pfizer-BioNTech COVID-19 vaccine for its suitability, the first step in making it available outside the United States.

The UK ordered 40 million doses of the two-shot product, which the preliminary data showed to be more than 95 percent effective.

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Npower News: CBN Job Options for Exited Npower Beneficiaries

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The Ministry of Humanitarian Affairs, Disaster Management and Social Development in collaboration with the Central Bank of Nigeria has launched an online portal called N-Exit to enable exited Npower Beneficiarieas apply for Central Bank of Nigeria Empowerement Options.

The ministry stated a statement signed by Bashir Nura Alkali, the Permanent Secretary of the Ministry.

Sadiya Umar Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development, urged interested exited npower beneficiaries to log on to the portal and add other additional information required for placements into the CBN intervention options.

The minister also stated that the NEXIT Portal will determine the suitability of the interested exited beneficiaries of Npower for teh CBN affiliate programes.

The statement reads, “The NEXIT portal is to determine the suitability of the beneficiaries for the CBN affiliated programs and is dependent on meeting the criteria and conditions set by the CBN for the said programs”.

“The Federal Government of Nigeria is very proud of the milestones you have achieved during your period of service to the nation. As we prepare to exit into prospective endeavors, we are confident that you will be able to channel all you have learnt over the years into successful ventures that will improve the economy of the country and create further opportunities for you and other citizens.

“Chasing a dream requires effort, passion and hard work which you are now halfway through. I congratulate you and wish you a very successful future”.

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