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Having your strategies is not enough if you haven’t studied the nature of underserved markets. This article discusses key insights on how founders can sell effectively in an emerging economy like Nigeria.
Make Alliances With Gatekeepers
Cultivate The Right Sales Capabilities
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Hence, business founders must treat underserved buyers with a different approach compared to those in well-served markets. Therefore as an industry newcomer, you have to hold the hands of your customers before and after they have purchased your products. Moreover, customers want to buy from brands with solid relationships with local collaborators. For example, MedTech startups will have more customers purchase their products and services when they collaborate with gatekeepers and local stakeholders within the healthcare industry. Hence, one factor leads to another.
Target the Right Consumer Segment
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Therefore, founders must develop a mechanism that monitors the market and customers’ preferences in real-time. For example, businesses are gradually shifting away from energy that pollutes the atmosphere to clean energy.
Modify Products or Services to the Buyer’s Aspirational Values
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