Google all the way. Google all the way.

Techcityng: Lagos has one of the worst road traffic situations in Nigeria. Many working class Lagosians spend more time in traffic than asleep. This makes street hawking and road-side buying an actual means of livelihood and an impossible thing to eradicate.

Nairobi has the worst traffic in Africa while Mexico City has the worst traffic in the world.

Brands, even spend tons of cash on billboards and lamp posts as a result of the fact that many eyes see their adverts while on the road; serving as reinforcement and a reminder for the (potential) customer.

According to the Nigerian Bureau of Statistics, Nigeria has an estimated vehicle population of 11,458,370 as at the first quarter of 2017, 53.8% of that number being commercial vehicles.

A startup named Drivertise hopes to take advantage of the number of cars (and eyes) on Nigerian roads; taking into consideration the fact that some small businesses could never afford a billboard or a lamppost but need the kind of reinforcement bigger brands benefit from. Even more, car owners who don’t fancy the transportation business can make this an alternate source of income.

According to its founder Gbolahan Faniran, “Drivertise is an advertising channel startup for brands which operates by pairing them with everyday car users who are willing to earn extra income by using their car as a medium of advertising. Adverts are placed on the body of the car by using car wrapping which are safe, stylish and leaves the car clean when the wrap is taken off after the campaign.”



As a result of the fact that startups, small and medium scale businesses are on the increase in Nigeria and large-scale businesses seeking cost effective ways promote products and service, Drivertise aims to help them reach their potential consumers in a new and more effective way.

Owners of the cars are called Drivertisers. Prospective Drivertisers will visit the website, www.drivertise.com.ng to sign up. They have the option of choosing the type of brand they want to carry around and the branding options (Full branding, Partial and Back glass).

Brands can select cars in locations they need the most impression and get analytics report on the daily movement of cars carrying their brand campaigns. Drivertise ensures that all Drivertisers are thoroughly vetted and trained to adhere to the strict rules of the company.

Advertising in Nigeria comes with a lot of sanctions for the slightest reason and as such the elephant in the room needed to be addressed. Reaching out to the startup owner on Drivertisers being accosted by LASAA (Lagos State Signage & Advertisement Agency) officers, he assured that aspect of the startup had been sorted.

SOURCE : https://brandspurng.com/drivertise-a-startup-that-helps-you-earn-money-with-your-car-without-driving-people-around/

Telecom Satellite TV (TSTV) launches today and there is huge anticipation among Nigerians about what the company has to offer. However, it is not the first company to try to take-on DSTV which has a huge grip on the Nigerian Pay-TV market despite the introduction of StarTimes a few years ago.

HiTV was a Nigerian-owned Pay-TV company that for a while gave DSTV a run for its money before it eventually collapsed. Who better to advice TSTV and other new companies angling to compete with DSTV like Kwese than Toyin Subair, former Group Managing Director/CEO HiTV, Toyin Subair. Read his extensive post originally shared on LinkedIn next…

My great mentor asked me one day, a few years ago, why after the appointment of a Receiver/Manager by GTB over the assets of HiTV I gave up fighting and just rolled into a semi coma.

He said this because, he knew how hard we fought to save it. I responded with the story of King David crying to GOD over his sick child but then quickly wiped his face off, ate and started drinking, when the child was pronounced dead. You really just must know when to move on so that you can see and take the future opportunities that will come your way. Thereafter, Solomon, the wisest and richest ruler of Israel was born to David because he looked and lived forward.

People who care, ask me what happened to HiTV and others in their supreme wisdom profess their own reasons. I have kept my peace and quietly moved on in life, until I wrote an article recently about 1 million Digital Jobs from the Creative sector. I realise, however, that if I am throwing a challenge to other entrepreneurs to be bold and creative, I, who used to be a poster boy for a generation and who failed after 5 years of a great business endeavour, owed it to them to share my HiTV experience.

Choose your shareholders carefully and know the implication of every clause in your Shareholders agreement, if you are going to sign one.

HiTV collapsed essentially because of a clause in our original Shareholders Agreement, which allowed a group of founding shareholders to block the company raising money or selling off a subsidiary. This right was exercised to block our capital raise because it was believed to be a possible ploy by another group to take control of the company. We the management were caught in the middle and it took us another 8 months to pursue the alternative that was acceptable to the shareholders but by that time the equity market had gone bust, leaving us grovelling all over for debt.

Every power you give up has future ramifications so don’t sign away your life for what may be a quick fix or a “morsel of bread” as it might come back to bite you. The same right you give to Mr A and is used wisely, will in the hands of Mr B be used to destroy your dreams.

I failed to know and manage my investors properly, which made it hard for me to mediate when they didn’t see eye-to-eye.

Perception is EVERYTHING in Nigeria.

 Your neighbour, banker, staff, bloggers, enemies are watching you and it is not what you are that matters but what others see and are saying about you.

Once you are funded by other people’s money, either investors or bankers, it matters what they think. So your lifestyle must be measured. Even if you have access to other sources of income, you must be prudent in spending and seen to be prudent else it will be assumed that you are “extravagant” and/or diverting other people’s money for your own personal use.

Soley because it is common place in Nigeria for executives to mismanage corporate funds , people are quick to judge and assume every situation is the same . I never touched company money or take a single bribe or kick back. HiTV had full corporate governance rules in place and a budget that was jealously guarded by a Board that sat 6 times in a year. Even when I went out or travelled with a supplier, I always insisted on paying, but only my shareholders and management team knew that. This forthrightness of mine made me throw caution to the wind since I knew I was clean BUT unfortunately I didn’t realise the negative impact it could have on my reputation. The first thing your adversaries or haters target in order to bring you down, is your reputation. Protect it.

Whatever you do, train people and invest in them

 One thing we did right was to invest in the lives of our people. I inspired all my staff, which grew to about 380 plus, in 6 locations in Nigeria and a London office, including over a thousand dealers, by making sure I led by example, sent them on trainings, exposed them to the international market and bought them books to read about Media, and very importantly made them know we were all in the same boat. If I was comfortable they also had to be, and if they were going through pains, we had to do it together.

I have always marvelled at the Receiver/Manager and people who thought HiTV could be locked up with chains? HiTV is today a force in different companies making or waiting to make a difference.

However, make sure the people you train and inspire do the same to their sub-ordinates. Usually Nigerians are scared to pass knowledge for fear of being replaced and so you have to teach them to let others fly. Reading the 1 Minute Manager meets Mr Monkey taught me not to micro-manage and get people to earn their pay so that I can be free to do the bigger things. The balance to delegation is to make sure there is a system to ensure that those who are working are justly rewarded.

In the absence of a technical foreign partner, we learnt our trade on the job and intensive trainings and we were just implementing our robust researched systems and processes when the company was closed down. How I would have loved to see its results.

Equity Vs Debt

We gambled on building a company with debt with the hope of converting it to equity once we proved the model. As I said earlier, we were impeded from doing this at the right time. At 25-27% interest on debt, most businesses cannot survive and you will be a slave to the banks for life. That is why they take collateral from you. They lend against your collateral not your business case. Regardless of our strong cashflows, the funding requirements continued to increase. Similar businesses in Europe like Sky, Virgin, Polsat etc had worse debt profiles whilst building up their Brands and subscription models but their markets have sophisticated equity and debt.

Unfortunately, we have no sophisticated equity market and I mean Angel investors and/or Venture Capitalist in Nigeria and without that, who can survive? It pains me to admit that someone told the then Minister of Information that Nigerians can’t fund our type of business and I was really hoping to prove him wrong but Alas!

We paid 40 million dollars for the first year of the second term of the EPL from mostly equity. But still had to come up with a guarantee of about 70 million dollars for the latter 2 years and in Nigeria, guarantee requires cash in bank. The alternative bank we were forced to use despite all their assurances and being offered half of the amount by another Bank failed to issue same on that fateful Tuesday and only offered it to us on Thursday. Meanwhile the EPL sold it to our competition on Wednesday morning.

Watch your debt profile. HiTV was paying an average of 1.1billion Naira approximately in interests and guarantee charges annually, for over 5 years! For a new company, we did a damn good job but really got blown out once our house was divided. I never live by debt and so was really ignorant about how interest works up till HiTV and of course since then you wont catch me near it. But what do you do when you have to? They say internationally that “equity is more expensive than debt”, but that is NOT true in Nigeria. Debt is way too expensive and destructive.

At the end of it all I was sued in my personal capacity for the debts of the company by the bank, but we have since sorted out our differences, agreed, signed and filed terms of settlement in all legal actions. The Managing Director simply told me, when we finally met, that since we all owned the company I had to pay out of the liability and not just dump it on them. It made total sense to me and I offered them what I had, they accepted and that was it. Fair is fair. You can’t avoid a lot of skin in the game because investors will be looking for this.

You need Government and regulation on your side

I ignored government to my peril. The competition spent a lot of time courting all arms of government and I was a simpleton. We just expected the whole world to cheer us on. The laws in Nigeria are as empty as they are full. A lot of writings but you have to make sure your business model is adequately protected.

What laws do you need, or what interpretations of the laws do you require, go and get it passed or adjudicated. Don’t assume its there and don’t be afraid of offending anyone. A few weeks before we lost the EPL rights we were approached by the competition to share it with them, in writing. We agreed and were completing the approvals on both sides when we lost the rights. Since they bought it, we asked them for it on the same terms as we had agreed to give it to them just 2 weeks prior, they refused. We ran to government to enforce the fairness clauses of the NBC Act but it fell on deaf ears.

We really should have actively pursued the enactment of anti- monopoly laws and competition rules early enough as exist everywhere else in the world. The truth is we never believed in monopoly and offered all our acquired TV rights to anyone who was ready to share the price with us. Our purchase of football rights was defensive, as that was the only way we could get it. Unfortunately, our government was happy to, as they continue to be, leave everything in the hands of foreign dominant players.

And whatever we were ready to pay for those TV rights was still far less than what Nigeria was losing from the repatriation of profits by the foreign companies operating in the country!

They say Power is not served al a carte, you have to take it forcefully. And if you are going to take it, make sure you succeed! I didn’t, but I am glad I tried. It is the most meaningful, joyful and the greatest thing I have ever embarked on. I can still see the sparkle in the eyes of every true partner of that journey I meet.

In conclusion of HiTV 101, I will say this, our thinking that we were doing the right things and following the patterns of all international Pay TV companies was not enough, we had to successfully domesticate those patterns and that proved difficult. Thankfully, our good intentions and hard work have helped most to get great jobs and new opportunities and challenged foreign companies to do more locally.

Whatever you do, live forward.

SOURCE: https://brandspurng.com/why-hitv-failed-against-dstv-and-what-tstv-can-learn-from-it/

Targeted marketing

“Nowadays people know the price of everything, but the value of nothing.”

-Oscar Wilde

The past few weeks have been quite interesting on the Nigerian Retail Market, as the ongoing price war between Uber and Taxify continues and, more recently, Coca-Cola & Pepsi have joined the fray. The Oscar Wilde quote above could easily describe the situation, not as it relates to the brands mentioned only, but also to most or all other brands and firms involved in price wars across various consumer and market segments, sectors and industries in Nigeria.

Retailers, who constantly beat down prices to compete, may bring more traffic to their stores, but does this really bring any long-term value to their year-end financial reports? Or, perhaps, are they discounting themselves into oblivion?

Let us begin with Uber and Taxify, the most-widely used taxi hailing applications in Nigeria (at least, for the time being). Most of us had thought Taxify was a flash in the pan when it started, “Give Taxify six weeks to fizzle out”, the critics said, but alas, some ten months later, the Taxify brand is still here, with driver partners receiving the higher payout than Uber’s. Uber still has the first mover advantage, though and has reached the stage where it has become a synonym for ‘cab’ or ‘take a cab’. Do not be surprised if a Nigerian says “I’ll Uber there”, or (the strange-sounding present continuous) “I’m Ubering to work today” or (its ridiculous past tense), “I Ubered to church on Sunday”. Now, this is the height of good branding and a first-entrant advantage. I shall discuss such topics in detail in subsequent posts, though.

Arch-rivals Pepsi and Coca Cola

Now, let’s get back to Coke and Pepsi. Coca-Cola introduced a 35cl bottle (aka ‘Solo’) into the market at ₦100 as a compensation of sorts to consumers, while it also increased the 50cl to 60cl (aka ‘Bigger Boy’) at a Recommended Retail Price (RRP) of ₦150. Pepsi retaliated, by selling its 50cl at ₦100, even though all sellers I have come across sell it at ₦120. Question: does this mean Pepsi supplies the trade channels at ₦100, but would rather remain dodgy on the real RRP for its product? There has been a lot of hype and publicity on this price reduction which begs the question. Does the average Nigerian consumer care more for quantity rather than quality (of the brand) or affinity and loyalty to the brand?

Is this price reduction and increase in the quantity of ‘sugared water’ enough to sway the market in Pepsi’s favor? Will the Coca-Cola faithful ditch his/her favorite brand, because a substitute is offered at a lower price and greater quantity? Personally, I doubt this assumption, but time and sales figures will tell.

Who wins?

That is the the big question. Who really wins at the end? The short term winners of a price war are usually the consumers  -if the companies keep their promises. However, consumers could also be the long term losers. If these brands realized the paradox of their Prisoner Dilemma, they would decide to come to a truce and, then, both could increase prices.

Eventually, companies will always do what’s best for the business and that may not include price slashes which cut into their revenues or increase their costs. There also exists the possibility of compromising the quality of ingredients used to manufacture the product, all in a bid to reduce production cost and maintain the same or sell at a higher profit margin.

Another very interesting occurrence has been the repackaging of almost every retail product into smaller (economy) packs. Have you noticed how, when you are in a retail store, everyday consumer items like milk, cereal, sugar, teabags, cooking ingredients have smaller (economy) sizes which sell at less than ₦100? I consider this a smart move, because these firms know that, in most cases, earning power has generally dwindled and even if it remained same, the purchasing power of the Naira has reduced and, so, they just have to rise up smartly to the situation by producing more affordable sizes of their products.

Which is better? A consumer buys a carton of an item at ₦1000, twice per month. Another consumer buys smaller units (economy packs) of same item at ₦80 every day.

It works both ways, as the consumer does not feel like he is saving less money and the company becomes more profitable.

I daresay we might soon have Coke and Pepsi in ₦50 Tetrapaks, targeted at kids. Bama and Jago (mayonnaise brands) might soon come in small sachets like BlueBand margarine does.

Heinz and other manufacturers of ketchup might also follow suit, almost immediately, by aggressively marketing their already existing sachet packages.

I am getting quite hungry as I type the last few words here and I have just ₦200 left on me. Hmmm… can I afford to get myself some breakfast in present-day Nigeria, with this amount?

Let’s find out together.

I Walk up to an ‘aboki’:

Nasco Cornflakes (economy pack) – ₦80

Sachet Milk- ₦50

Sugar- ₦20

2 Sachets of Water – ₦20

Total – ₦170

Breakfast is served at less than ₦200.

Life is Good.

SOURCE: https://brandspurng.com/price-wars-consumers-and-the-retail-market-in-nigeria-by-isaac-oluwaseun/

ok

Its needed..

Pan-African financial services group, United Bank for Africa Plc, has once again added to its growing list of laurels by emerging best institution in two esteemed categories at the prestigious Interswitch Awards and Gala.

UBA beat other nominees in its category, taking away the prize for the Fastest Growing Bank Partner given to the bank with the most impressive performance in Verve card issuance and the Payment Innovation Driver for Trade Finance.

Both awards further lend credence to UBA’s dominance in the digital banking space, a statement by the Bank on Thursday said.

The award, which is a recognition of innovative products and services introduced by the bank in recent times, targeted towards meeting customer needs, comes on the heels of recent awards hauled by UBA, including Finnacle Client Innovation Awards and Best Bank Awards won by its five subsidiaries across Africa by The Bankers Magazine.

Receiving the award at a colorful and well attended event, the Group Head, Consumer and Digital Banking, United Bank for Africa, Dr. Yinka Adedeji, appreciated the organizer’s for the recognition, noting that UBA’s dedication to hard work and particular emphasis on quality to customer needs are being acknowledged.

According to Adedeji, the award affirms the Bank’s strong management and un-matched commitment to service excellence.

He said: “This only goes to show that our resolve in continuing to deploy innovative solutions that puts customer first by using cutting edge technology for consumer satisfaction and excellent banking experience is important to us. This recognition will further spur us to do more in meeting the needs of our customers with unequalled service hard to find elsewhere.”

UBA is one of Africa’s leading banks with operations in 19 African countries including having presence in global financial centers; New York, London and Paris.

Adjudged to be at the forefront of innovation and convenience banking, UBA is one of the first financial services institutions on the continent to deploy Finacle 10x, a new information technology platform to boost its services and electronic banking channels.

Today, UBA provides banking services to some 11 million customers globally, through diverse channels and several thousand touch points.

SOURCE: https://brandspurng.com/uba-wins-the-best-in-digital-banking-at-interswitch-awards/

yes o @ d guy above me.

i knew it.

Thank you OP

OK noted

Men of investment acumen.

Nigeria’s agricultural production of sorghum has leaped to the second place, now trailing only the United States in annual production.

Data obtained from the United States Department of Agriculture (USDA) forecasts world sorghum production at 59.34 million metric tonnes for 2017/2018.

Of this number, USA’s output is projected to reach 8.4m metric tonnes while Nigeria is second with 6.4m metric tonnes, and Mexico comes in the third position with 6.0m metric tonnes.

According to the USDA data, sorghum production was 63.08 million metric tonnes in 2016. This year’s output of 59.34 million metric tonnes represents a decrease of 3.74 million tonnes or a -5.93% decrease.

Sorghum is a local grain that grows predominantly in the semi-arid, savannah and grassland region of Northern Nigeria and other parts of the world.

Nigerian Breweries Plc (“NB”), the nation’s largest brewer and one of the major industrial consumers of sorghum noted in its Sustainability Report tagged “Enhancing the Sorghum Value Chain” that the industrial sector, especially food and beverages utilized 20% or 1.3m metric tonnes of the grain as raw materials in 2015, while 80% or 4.2 million metric tonnes were utilised to produce food and livestock feed.

NB said that its demand for sorghum is approximately 100,000 metric tonnes per year.

Sorghum is said to be nutritionally rich and serves as a staple food in most parts of Northern Nigeria. The grain has assumed commercial relevance in recent years, especially in the food and beverage sector. It is said to be a valuable ingredient next to malted barley used in the brewery industry.

SOURCE: https://brandspurng.com/nigeria-now-second-leading-producer-of-sorghum-in-the-world/

Fidelity Bank Plc thursday announced plans to launch up to $500 million Senior Unsecured Medium Notes (Eurobond) as well as a tender offer to purchase the banks’ outstanding $300 million 6.875 per cent Notes due May 9, 2018.

Fidelity Bank disclosed this in a notification to the Nigerian Stock Exchange (NSE). According to the bank, it intends to list the $500 million on the Irish Stock Exchange with the expectations that the notes will be traded on its regulated market.

The bank said it intended to issue the notes directly but will retain the flexibility to substitute issuer with an offshore special purpose vehicle (SPV), where market conditions require and allow for such prior to the maturity of the notes.

Fidelity Bank Plc said the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC), have given ‘no objection’ approvals to the transaction.

According to the bank, the net proceeds of the notes will be used to finance the tender offer of existing notes and for its general banking purposes.

“The bank will pay the net proceeds from the notes issuance after settling the existing notes in foreign currency or converted into Naira, depending on the bank’s requirement from time to time,” it said.
Market analysts said, if successfully raised, the new funds would help to boost the bank’s performance going forward.

Fidelity Bank had ended the half year to June 30, 2017 with an impressive financial results, posting growth in key performance indicators.

The bank posted gross earnings of N85.8 billion in H1 of 2017, up 22 per cent from N70.2 billion recorded in the corresponding period of 2016. Interest income grew by 27.8 per cent, while interest expenses grew faster by 48 per cent to hit N38.2 billion compared with 25.7 billion in 2016. As a result, net interest income stood at N34.7 billion in 2017 compared with N31.2 billion, indicating a rise of 11 per cent. Impairment charges remained flat at N4.8 billion in 2017 as against N4.79 billion in 2016.

Despite the high inflationary trend, the bank reduced operating expenses by 1.7 per cent to N30.9 billion, from N31.4 billion in the corresponding period of 2016.

Consequently, profit before tax (PBT) rose by 66.6 per cent to N10.2 billion, from N6.131 billion in 2016, while profit after tax (PAT) improved by 65.6 per cent from N5.457 billion to N9.04 billion in 2017. Earnings per share similarly improved to 31 kobo as against 19 kobo in 2016.

Source:https://brandspurng.com/fidelity-bank-launches-500-million-eurobond-to-boost-operations/

Nigerian Breweries Plc has commissioned and donated a newly constructed, fully equipped clinic and 100KVA generator to the Nigerian Immigration Service in Ikoyi, Lagos State. According to the company, the donation was done in line with its philosophy of Winning with Nigeria and to confirm it identifies with the vision and mission of key stakeholders in the Nigerian project.

Kufre Ekanem, Nigerian Breweries’ Corporate Affairs Adviser who represented the company’s Managing Director, Johan Doyer, said during the commissioning, that the donation of the facilities was a gesture that would contribute to the overall welfare of the men and officers of the Nigeria Immigration Service as they work to strengthen the security and prosperity of Nigeria through proactive, effective and efficient migration management. “As we commission this newly constructed and furnished clinic and a 100KVA generator, we reiterate our support for your vision to be a modern, effective and efficient Immigration Service, manned by well trained and motivated workforce,” he said.

Mr. Ekanem further revealed that Nigerian Breweries has witnessed cooperation from the Nigeria Immigration Service through its operations that require a huge traffic of personnel into and outside of Nigeria. He expressed his appreciation to the Immigration Service for the support the company continues to receive. “As an operating company of Heineken, our operations in Nigeria require a huge traffic of personnel both within and outside the country. The cooperation we get from the Nigeria Immigration Service as Nigeria’s gate keepers is a critical part of our overall success on an annual basis. We want to say thank you for the support we receive and continue to receive from you,” Ekanem stated.

Mr. Mohammed Babandede, Comptroller General of the Nigeria Immigration Service who was represented by Ishaku Hamad, Assistant Comptroller of Immigration, Zone A, Lagos State, commended the brewery giant for the medical facility and assured the company of its continued support in the future. “On behalf of the Nigeria Immigration Service, I want to thank Nigerian Breweries for this great asset donated to the Immigration Service. This facility would add value to the Immigration Service by catering for the health issues of its personnel.” He further called on all corporate organizations to take similar strides in corporate social responsibility akin to Nigerian Breweries.

Nigerian Breweries is Nigeria’s foremost and largest brewing firm. Its corporate social responsibility footprints extend to Education, youth empowerment, talent development, water, health to partnering with agencies of government such as the Federal Road Safety Corps to ensure safer roads, among other diverse areas of its engagement with Nigeria.

Source:https://brandspurng.com/nb-donates-clinic-medical-equipment-and-100kva-generator-to-nigeria-immigration-service/

Good one

This is serious.

The debut N100 billion Sukuk offer by the Debt Management Office (DMO) has been oversubscribed by 5.8% approximately 6%.


According to a statement issued by the office, investors in the bond included pension funds, banks, fund managers and retail investors.

DMO said the total subscription to the Sukuk offer was N105.88 billion.

Patience Oniha, DMO director general disclosed this on Tuesday.

The offer for the bond, which lasted for five days, closed on September 22.

Oniha commended the federal government and in particular, Kemi Adeosun, minister of finance, for the policy support that led to the success of this initial offer.

According to the statement, the bond achieved one of its aims, which was to offer new investors an opportunity to participate in Nigeria’s growing capital market.

“With this positive development, the DMO has been energised to continue its role of meeting the government’s funding needs, as well as introducing new instruments to develop Nigeria’s capital market,” it said.

DMO also said it hoped that the proceeds would enable the ministry of power, works and housing to commence work on the roads.

The Christian Association of Nigeria (CAN) had said the bond was a quiet way of islamising the country.

SOURCE: https://brandspurng.com/despite-criticisms-fgs-sukuk-bonds-oversubscribed-by-6/

We all want to think our brand is unlike any other, but that is probably not the case. A lot of marketers talk about what makes their brand unique, but the reality is, there are very few truly unique products in the market. What really makes a brand stand out are the distinctive brand assets that set it apart from competitors.


What are Distinctive Brand Assets?

Distinctiveness has nothing to do with how a product functions or its selling propositions – it’s the elements of a brand that make it recognizable and different. When unique elements are tied back to a brand, they are known as “distinctive assets.”

Distinctive assets are valuable to a brand – they are used to measure how prevalent and unique customers think it is. The more prevalent and unique a brand is, the more recognition and loyalty it earns. And recognition + loyalty = profit.

Part of maintaining and protecting a brand’s distinctiveness is the consistent use of its core elements, which include logos, colors, typography, mascots, taglines and advertising style.

For example, there are many cola products on the market, but the color red with a white banner is unique to Coca-Cola and golden arches are unique to McDonalds. These brands have evolved and changed over time, but these distinct brand assets have remained consistent.

mcdonalds and coca cola logo history -- examples of distinctive brand assets

One of the strongest examples of distinctive brand assets are the Nike swoosh and “Just Do It” slogan. The swoosh logo can exist without any mention of the company name (as it does today) and the tagline is recognizable without the logo — that’s how distinct those assets are.

History of Nike Logos -- consistent use of distinctive brand assetsThe Ehrenberg-Bass Institute for Marketing Science identified four situations when a brand should benchmark its distinctive assets:

If you are considering changing or updating your brand’s identity and need guidance on what to keep.
If you want to improve your branding/brand linkage scores.
If you are planning new advertising and need to assess the potential of introducing new brand elements.
If you are considering reviving an old brand element, but aren’t sure if it’s still relevant.
If any of these apply to you, it’s time to conduct an assessment of your distinctive brand assets.

How to Identify Your Distinctive Brand Assets

Identifying and measuring distinctive assets helps brands ensure they aren’t using an element that is associated with a competitor. Think of it this way: if you are using an element that is associated with another brand, you are basically spending your advertising budget on helping your competitor. You don’t want to do that now, do you? (No!)

One of the challenges brands face is identifying which assets are distinct when there is so much content being created for multiple channels and audiences. To help you identify your distinctive brand assets, Jenni Romaniuk of the Ehrenberg-Bass Institute developed a distinctive asset grid to help brands identify their distinctive elements:

distinctive asset grid from the Ehrenberg-Bass Institute of Marketing Science

The key criteria in the grid are prevalence and uniqueness. Marketers can control a brand’s prevalence; it often comes down to consistent use of distinctive assets in copy and packaging. But uniqueness is more difficult to control and measure because it largely boils down to what your competitors are doing.

It’s not enough for an element to simply be used as part of the brand’s identity. The most valuable distinctive brand assets are both prevalent and unique – consumers link the asset to the brand and there aren’t any other brands associated with that element.

Protecting and Managing Your Distinctive Brand Assets

Distinctive brand assets do not develop overnight; it takes time and consistency for consumers to make the link between the assets and the brand. Once you have identified your brand’s distinctive assets, the entire team must work to protect them. Here’s how:

Start by organizing them. Here are seven timesaving tips for managing your brand assets.
Know the difference between files and brand assets. It’s an important distinction, and one that will help you down the line.
Rely on what your consumers say about your brand’s uniqueness – do not rely on what your marketing department has to say about it.
Use your distinctive assets in every single marketing campaign – don’t change the elements and heavily weigh the elements of a brand refresh.
Use the same distinctive assets in advertising and packaging.
Always make sure your competitors aren’t using a similar brand element – continue to stay informed.
When implementing a new brand element, always use it in combination with the name of your brand.
When change is the only constant in your branding, valuable distinctive assets are lost, throwing away years of investment and consumer recognition. Efficient and organized digital asset management is the key to creating consistency.

When managing assets is streamlined, the team can finally focus on the most important goal.


SOURCE: https://brandspurng.com/your-brand-may-not-be-unique-but-is-it-distinct/

interesting..

we are watching.

The Bank of Agriculture of Nigeria is the major avenue the government has employed to disburse loans and grant to the public. The bank is owned by the federal government, with the Central Bank of Nigeria and the Federal Ministry of Finance incorporated as shareholders.


The activities of the bank are supervised by the Federal Ministry of Agriculture and rural development. When thinking of government loans, the BOA should be your first choice.

REQUIREMENTS FOR BANK OF AGRICULTURE (BOA) LOANS

You must have maintained a minimum customer account relationship of about six months
You must have deposited at least 2% of the required loan amount into the account
You must provide collateral, excluding land.
You must provide a detailed business plan.
You submit 5 passport photo
You must provide any means of identification
There are also several scheme partners that the Bank of Agriculture is collaborating with:

SME Friendly Banks;
Partner Enterprise Development Centers/Institutions;
Partner Technical Skills Training Institutions;
The management of the National Youth Service Corps.
The loan processing and inspection time will take up to 2-4 weeks. The Bank of Industry loan for graduates has to be paid monthly and weekly for the non-graduates. The source of payment can be the proceeds of one’s business. There are a lot of opportunities for those who are looking for them. If you are confident in your business idea, then apply for the Entrepreneurship Fund and the Bank of Industry Nigeria loan.

SOURCE: https://brandspurng.com/bank-of-agric-giving-out-grants-maximum-of-n4000000-to-empower-youths-for-agricultural-activities-apply-now/

We all want our resumes and cover letters to leave a positive impression. As a result, most resume-writers spend a great deal of time focused on their skills, experience, and other critical details that showcase their qualifications. The goal, after all, is to present yourself as the best candidate for the job. Unfortunately, far too many job-seekers fail to address the minor details. For example, how do you note that you’ve included an attached resume to your application?


Whether you’re submitting a written job application, applying online, or using email, an attached resume is usually something employers expect to see. However, you should still include a brief sentence that lets the hiring manager know that it’s been sent. It’s considered both polite and proper.

It’s also one of those seemingly minor details that can help you to appear professional. Here are some examples of the worst ways to announce an attached resume, as well as some of the best options.

Please Find Attached My Resume – The Worst Option

Sadly, there are a whole host of bad ways to say, “Attached Resume” in a cover letter or email. Some are just grammatically incorrect, while others are antiquated holdovers from a bygone era. The following examples should be avoided at all costs:

Please find attached my resume

While many job-seekers still rely on this old grammatical construction, it sounds foreign to modern ears.

Please find attached: my resume

This alternate construction tries to get around the formality of the first choice by adding a colon to the mix. Unfortunately, that change in punctuation does not really make it sound any less stilted.

Please find, attached, my resume

This option is grammatically correct, but the added commas make the sentence even worse. It lacks the clarity that a more direct statement of fact could provide.

Please find attached resume

Some resume writers even go so far as to remove the possessive from the sentence. As you can see, it’s not an improvement.

There are probably hundreds of other examples of poor sentence construction, but you get the idea. Many job-seekers are so attached to the words “please find attached” that they never bother to consider how it sounds. Our best advice: forget about using those words in that order. There are better ways to express that idea.

Attached Resume: The Best Options

The fact is that there are many ways to mention that you’ve sent your resume along with a job application or cover letter. The key is to avoid archaic grammar and odd punctuation. You should also consider the direct approach. After all, you’re not writing a poem or the Great American Novel. Since the idea is to convey your qualifications in a direct manner, you should strive for maximum clarity. The following examples can help you accomplish that goal:

I have attached my resume for your consideration
My resume is attached for your consideration
I have included my resume for your review
My resume has been included for your review
That’s just a small sampling, of course. There are any number of alternatives that you could use to deliver that same message. The point is to avoid stilted, archaic sentence constructions that appear old-fashioned. Simplify your communication strategy, to ensure that your sentences are as clear and concise as possible. That can help you to avoid appearing outdated or unprofessional.

(You can also check out our post here on emailing a resume).

On the surface, concerns about how to mention your attached resume might seem minor. However, it’s small details such as this that often leave a lasting impression on potential employers. By taking the time to focus on these types of details, you can set yourself apart from the crowd. And that can help you to increase your chances of landing that dream job!

SOURCE: https://brandspurng.com/please-find-attached-my-resume-the-right-way-to-say-it/

Coke is set to release its first ever in-game advertising spot in the forthcoming Fifa 18.


The sequence in the game features Alex Hunter, the fictional protagonist in The Journey, a story mode introduced in Fifa 17 that returns this year, continuing Hunter’s story.



Last year, Hunter ‘signed a deal’ with Adidas, and this year he will add Coca-Cola Zero Sugar to the list of brands he is endorsing.

A can of the soft drink appears in the game in a sequence that nods to 1979 Coke ad “Mean Joe”, in which an American Football star is given a bottle of Coke by a fan after a difficult game.

The collaboration between Coca-Cola and the game’s publisher, EA Sports, will extend to special packaging and retail partnerships. The ad spot featured in the game will also be shared on social and be shown on out of home sites, including on the brand’s new 3D robotic sign in New York’s Times Square.

Matt Wolf, vice-president of entertainment, ventures and strategic alliances at The Coca-Cola Company, said: “This is an exciting brand innovation. Signing Alex Hunter puts Coca-Cola at the intersection of gaming and brand marketing within the most popular franchise sports game in the world.”

The game is released on Friday 29 September for platforms including Playstation 4, Xbox One, PC and Nintendo Switch.

Dave Madden, head of global brand partnerships for EA, added: “This in-game Coca-Cola endorsement gives our fans a taste of life as a renowned football star and the opportunities that come along with it.”

SOURCE: https://brandspurng.com/coca-cola-signs-first-virtual-athlete-in-latest-fifa-game/

Syphon Filter 2.

Home appliance and personal electronics brand Philips has launched a new global marketing initiative that will let customers set the agenda for Philips’ social causes for 2018.



Once customers have purchased a product and registered, they will be directed to the Better me, better world page which has information about the causes supported by Philips.

Customers will then be able to share their preference on where Philips should focus its efforts in healthcare.

The agency working on the campaign is OgilvyOne.

The initiative is part of Philips’ stated goal of improving the lives of three billion people each year by 2025. This year, the company claims to have helped 2.1 billion through working on campaign such as United Nation’s Every Woman Every Child initiative, which aims to improve the lives of women and children in Africa and South East Asia.

SOURCE: https://brandspurng.com/philips-launches-global-marketing-initiative-better-me-better-world/

Twenty-two entrepreneurs received grants of N300,000 each to support their businesses when the train of the ongoing Goldberg empowerment initiative, Isedowo stopped in Ado Ekiti, Ekiti State, on Friday, September 22, 2017.


The artisans are among the 100 participants Goldberg plans to support with N300, 000 through Isedowo across Southwest Nigeria.



One of the beneficiaries, Eniola Awe, a fashion designer, who expressed her joy during the cheque presentation ceremony, said “l am highly delighted to be among the beneficiaries. I commend Goldberg for supporting my dreams of becoming a successful entrepreneur. I urge consumers to make Goldberg the preferred choice in Ekiti and the whole of the Southwest.”



Also, Kayode Omoyeba, a carpenter, remarked “l commend Goldberg and Nigerian Breweries for the empowerment scheme which will go a long way in enhancing my business. I have been thinking of how to buy work tools for a while and Goldberg has relieved me of that burden. I am now a happy man and this initiative is worth emulating.”

Other artisans which included motor mechanics, tailors, caterers, carpenters, makeup artists, electricians and an artist also commended Goldberg for assisting them with funds to boost their businesses.



Commenting on Isedowo, the Portfolio Manager, Mainstream Lager and Stout brands, Nigerian Breweries Plc, Mr. Emmanuel Agu, said “Goldberg would, through the scheme, extend its affinity with the people of the Southwest beyond culture and tradition to entrepreneurship.” That way, he added, “it would have positioned itself as an empowerment platform that shares the aspirations of the people.”

To benefit from the initiative, interested participants are expected to showcase their business ideas and how they impact the society.

The initiative, which was launched last month by the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II, in his palace, has received wide commendation from prominent monarchs in the Southwest.

Known for its leading role in promoting culture and tradition, Goldberg throughIsedowo has deepened its connection with the people of the South-west by supporting their economic aspirations.

The scheme which has so far supported artisans in Osun and Ekiti states will also activate in other Southwestern states in the coming weeks.

SOURCE: https://brandspurng.com/twenty-two-enterpreneurs-benefit-from-isedowo-in-ekiti-pictures/

This is serious.

NSE has been undergoing some major changes lately.

The Board of Directors of Lafarge Africa Plc will be meeting on Tuesday, September 26 to consider the terms of its rights issue in an extra ordinary board meeting.
The cement producing firm in a notice filed with the Nigerian Stock Exchange (NSE) on Friday, also said it had commenced a closed period which started on Wednesday, September 20, 2017.

The notice signed by Mrs Edith Onwuchekwa, the Company Secretary and Legal Director for Lafarge noted that the closed period will end on Wednesday, September 27, 2017.

“In compliance with Rules 17.17 (b) (3) and 17.18 (b), this is to formally notify you that Lafarge Africa Plc’s closed period commenced September 20, 2017, and will end on September 27, 2017.

“Members of the board have equally been notified of the close period,” the statement said..

It will be recalled that shareholders of Lafarge Africa had approved the N140 billion rights issue during the company’s annual general Meeting (AGM) in June.

The company said the proposed rights issue would strengthen the capital structure of the company by reducing its foreign currency exposure and optimising Lafarge Africa’s organisation.

According to the company’s Chairman, Mobolaji Balogun,the rights issue will take place at the beginning of third-quarter and is expected to be finalised by October at the latest.

SOURCE: https://brandspurng.com/lafarge-to-deliberate-terms-of-n140bn-right-issue/

i agree..