Launching a new venture has always been hard work. Launching one in a recovering economy like Nigeria in 2021 post covid, is a whole new level altogether. Bearing in mind that “first impressions matter”, the way you start is all too important.
To give your project the best chances of success, here are a few tips to have a successful launch:
1. Create your customer avatar/ buyer persona
Having an idea of who your desired customers are meant to be is very different from taking out the time to create a detailed customer avatar. You can have the greatest product in the world, but if you are trying to sell it to the wrong person who does not need it, you will forever struggle with sales. Getting your buyer persona right will help you avoid this pitfall.
Your buyer persona will help you clarify who your ideal customer is, where to find them, and their challenges; which you are there to help them solve.
While there are lots of materials to guide you with this, we recommend you try this free customer avatar worksheet from digital marketer.
2. Streamline your service offering
Now that you have developed your customer avatar, it is time to fine tune your product or service offering to provide the right solutions for your customers where they are. This will help you determine the mode of service delivery and cost of delivery amongst other things.
3. Conduct market research
Avoid the assumption that because the product or service works for you, it will work for every other person the same way. You will need to have it tested out by potential users, get feedback, use it to improve on your offering. This should not be limited to friends and family members. For help with market research, Eunoia consulting has extensive experience in conducting proper market research without breaking the bank.
This might result in a change in design, color, or in some extreme cases, even rethinking the entire project. If it is not practicable for the user, it should not be in the market. The bottom line is if it is to be in the market, it should have every advantage to stay and thrive in the market.
4. Understand your market channels
Long gone are those days when a business will open, then sit back and begin to wait for customers to come knocking. At this moment in time, when Nigerian customers are looking for how to cut down on their spending, you will need to creatively be in their face, convincing them to spend their hard earned money with you.
Part of your previous research should have shown you the places where your desired clients are presently looking for similar solutions to what you are offering. Now, you will need to make that easier for them to access yours.
Whether this is by using traditional means like market activations, out of home advertising like radio and billboards, or more recent means involving digital marketing.
Your mantra should be “the more people hear about your offering, the more sales you will get”. Find the best channels for your product or service, and get to work.
5. Assemble your dream team
With all the proper planning, without the right people to execute the vision, it will be like going to war with rubber bullets. Carefully put together a team, with each person having strengths that will aid what you want to achieve.
Avoid the pitfall of hiring friends and family because of familiarity. This is a fairly common occurrence, which usually leads to less than optimum productivity. Instead, only take the best suited candidates for the roles required.
Working with a top consulting firm
Using the tips above as a guide will surely give your new project a great chance of succeeding. However, it is still a lot of work, as you will need to handle various aspects like properly defining your buyer persona, doing market research, marketing, and actual sales.
That is why a lot of businesses outsource these activities to consulting firms. A consulting firm has experts that are well versed in one or a host of these activities. One of the top consulting firms in Nigeria at the moment, that is sure to offer you excellent value for your money is Eunoia Consulting limited.
At Eunoia consulting, we are adept at business development, market research, management consulting, and more. Best of all, we work well with both the big multinationals, and small startups. We will hold you by the hand, and guide you through every step of the way. You can get in touch with us today.
To know how to properly choose a consulting firm, you can check out our article on the same topic here.