News
The 7 Pillars of Positioning
When it comes to positioning, a correlation does make the truth: organizations that stand for something unique in the mind of consumers or customers grow and prosper while the ones that stand for nothing or too many things will eventually disintegrate sooner than later. The survival of any company in a modern market-state-economy is dependent on the quality of information available to its management as well as the staff. Unarguably, the Americans are peerless when it comes to information-sharing; they communicate lavishly. This is the source of the obvious resilience and competitive advantage which many American companies enjoy over their counterparts in Africa and Asia. For instance, there are probably more books on why Enron failed than even on IBM turn-around. But here in Nigeria, we scarcely want to talk on why a company went under because we are only used to talking about best practices. But great lessons can equally be learnt from gallant failures.
Revolutions are happening all around us and the emergence of do-it-yourself technology makes forecasting job to be fraught with enormous vulnerability today. In a market-state–economy, only the fittest companies survive the hyper competitive, dog-eat-dog economic milieu. Consumers are kings; they determine which companies to keep alive and the ones to inter. Little wonder why only 60% of the manufacturing companies and 30% of the banks that sang Christmas carol in December 1999 were alive by January 2008 to say happy New Year. In corporate Nigeria, the question is: How did Zenith bank survive the Soludo consolidation re-engineering and Fountain Trust and 63 other banks got dispatched to The Great Beyond? Was it money- power or network or luck or handiwork of unseen forces? No. The answer lies in Positioning.
Positioning is about what is unique in a company, what a company stands for. How buyers or consumers perceive a company will determine the share of the mind and the share of the shelve which such company’s products will enjoy. Positioning is about perception; and perception is reality. The 25 banks that survive the consolidation exercise are mostly the ones that represent something in the mind of consumers. And even then, it will be discovered that 1+1=5 in some banks after consolidation, while 7+1 is less than 1 among some 8 banks that came together. The long and short of it is that the companies that will survive must stand for something in the mind of consumers. A critical analysis of all the companies that have been forced to close shops whether in the media or manufacturing or telecom industries show that majority of them did not stand for something worthwhile in the mind of their respective patrons i.e. consumers. Hardly can anybody remember what Lead Merchant, Bond, ABC, and Metropolitan banks among others stood for when they were in operation? In the media, can anyone remind us what position Sentinel and Globe magazines occupied in the mind of their readers?
However, it is one thing for an organization to communicate one position to its target audience; it’s a different ball game for the audience to see the perceived value. In the last three years, arising from stiff competition, every organization has been trying to purchase a portion of the consumer mind, some have been successful while majority have failed. This is because most companies don’t match their words with actions. For instance, when Intercontinental bank comes out with ‘the face of Leadership’, people wonder which leadership? – In which area. Zenith bank says it is for people, service and technology: Service for whom? Sky bank on the other hand says it is the leader in e-business, while bank PHB says it is the king of innovation. On its part, GT bank constantly waves the ‘professionalism handkerchief’ to us. These are all wonderful positions but consumers like beautiful brides (which they are) are very cautious; they seek for hard facts, concrete evidence to know which of them is for real.
In the paragraphs that follow, we shall look into the seven pillars of positioning to enable managers of organizations see how IBM, Coca-cola, General Electric, Intel, Microsoft and Apple among other great companies managed to engrave themselves into the minds of consumers globally for generations.
Pillar 1: Leadership. The advantage of being the first in a market segment over being the best is as high as 40%. I totally agree with Al Ries and Jack Trout in their powerful book on Positioning that it is far easier to get to the market place first than to try to convince someone that you have a superior product. We witnessed this when Zenith and GT banks first came out to raise N25billion each in the stock market three years ago; they spent less money in advertising than the other banks which came after them.
Pillar 2: Mind. Marketing battles are won or lost first in the mind: getting to the market first is not as important as getting to the mind of the consumer first. The eternal advantage which Guinness stout has over Legend extra stout is the fact that Guinness got into the mind of consumers first. This is why ladies hardly forget their first ‘toaster’
Pillar 3: Perception. All truths are subjective and relative. Everything in this world is about perception. There is no brand of the year, no bank of the year; no man of the year: its all about perception. Perception is real, and it is everything.
Pillar 4: Focus. Companies that successfully own a word in the prospect minds have won 50% of the battle. 7up: the difference is clear. Coke: Always coca-cola. New Horizons: Everything is possible. First bank: truly the first. Skye bank: saying yes to your dream. It works magic, and it shows on the balance-sheet as well.
Pillar 5: Opposite. When bank PHB went for full re-branding, little did it occur to the management that it will catch fire with consumers. There is opportunity in weakness. Companies that are not number one in getting to the market or mind before competition can still prosper if it plays the law of opposite in marketing very well the way 7up and AVIS car hire have done.
Pillar 6: Line Extension: The temptation is always strong for CEOs to extend the brand equity of a product or name. But the end result is always almost a disaster. Maltina did it with little success. Fanta Chapman in coke was a failure. Almost all banks that went into mortgage business in the 1990s in Nigeria got their fingers burnt. Consumers will have no problem in drinking star lager beer from Nigerian Brewery; but certainly the concept of a coke- beer will take miracle to fly. But this is what most CEOs do each time they run out of ideas to boost revenue base of their corporations.
Pillar 7: Resources. No doubt, a life without oxygen and blood will automatically come to an abrupt close the same way a company without cash. Cash remains the king. Cash is blood in business. Without good resources the most brilliant idea won’t get off the ground. Coke, Microsoft, IBM, MTN have all used their respective financial power to permanently weaken competition. Nonetheless,ideas will continue to rule the world!
Tim Akano ([email protected])
Tim Akano is an IT specialist and CEO, New Horizons. He is a seminar presenter and one of the World’s top coaches on sixth-sense corporate strategy.
PalmPay, Nigeria’s leading digital banking platform, has announced the launch of its ₦400 million festive rewards campaign, designed to reward users with cash prizes and fully sponsored international travel experiences for everyday transactions on the PalmPay app.
The campaign will run from December 17, 2025, to January 8, 2026. The campaign is designed to reward everyday transactions with extraordinary experiences. It runs alongside PalmPay’s Purple December brand campaign, which focuses on wrapping up the company’s key brand and community initiatives for the year.
At the centre of the rewards campaign is the PalmPay World Travel Carnival, an interactive card collection experience that allows users to earn city cards by completing transactions on the app. Users are required to collect five city cards – London, New York, Dubai, Sydney, and Cape Town and combine them into a World Card, which unlocks a share of the prize pool.
The more World Cards a user creates, the larger their share of the cash rewards. Any extra uncombined cards can be swapped with friends and other PalmPay users to help complete additional World Cards.
Beyond cash rewards, the Carnival also offers Free Global Trips. In each round, the top two users with the highest number of eligible transactions (₦100 and above) and at least one World Card will win an all-expense-paid international trip.
The travel grand prize covers:
- Visa fees
- Round-trip international airfare
- 5-day, 4-night hotel accommodation
- Side attraction
- Meal expenses
- Airport pick-up and drop-off
- All transportation for scheduled tour activities during the trip
Winners will be determined through a transparent leaderboard system, with prizes credited automatically at the end of each round on December 25, December 31, and January 8.
Participation is simple:
- Complete tasks on the PalmPay app, such as Airtime, Data, Transfers, and other specific transactions listed in the app, to earn cards.
- Collect all five city cards.
- Swap cards with friends to complete your collection.
- Combine cards to form a World Card and earn cash rewards.
- Perform more transactions to climb the leaderboard for a chance at the global trip prize.
To ensure fairness, PalmPay has instituted strict rules: no cheating, bots, fake accounts, or manipulation. Any violations may lead to disqualification or account bans. Additionally, the Free Travel Prize is limited to one per user throughout the campaign.
Speaking on the launch, Femi Hanson, Head of Marketing & Communication, “This festive rewards campaign is about turning everyday banking into meaningful value for our users. With the World Travel Carnival as the headline activation, we are reinforcing PalmPay’s promise of being the smarter way to bank—where smart financial decisions unlock bigger opportunities.”
The Rural Electrification Agency (REA) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to conduct a nationwide energy survey aimed at closing long-standing data gaps in Nigeria’s power sector. The initiative is expected to guide policy, attract investment, and accelerate universal electricity access.
Signed in Abuja, the agreement establishes a National Energy Survey based on the Multi-Tier Tracking Framework (MTF), a globally recognized methodology that measures electricity access not only by grid connection but also by quality, affordability, reliability, and usage of electricity and clean cooking solutions.
The survey will be implemented under the Energy Sector Management Assistance Program (ESMAP) of the World Bank. Dr. Abba Aliyu, REA Managing Director/CEO, said the partnership underscores REA’s commitment to evidence-based rural electrification planning and will generate detailed insights on electricity access and off-grid solutions nationwide.
Prince Adeyemi Adeniran, Statistician-General of the Federation/CEO of NBS, emphasized that reliable statistics are essential for effective policymaking, assuring that NBS will provide technical oversight, sampling expertise, and quality assurance to meet global standards.
The survey will assess energy access, household affordability, expenditure patterns, and the adoption of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions. REA will provide sector expertise and policy alignment, while NBS manages regulatory approvals, methodology, and technical supervision.
Funded and technically overseen by the World Bank, the exercise will run for 18 months, with the resulting data expected to improve national energy planning, programme targeting, and private sector investment, particularly in underserved and rural communities.
Officials said the collaboration reflects the Federal Government’s commitment to strengthening inter-agency coordination, enhancing energy data availability, and advancing Nigeria’s goal of universal electricity and clean cooking access.
The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the nation’s foremost self-regulatory body for the blockchain industry, has completed its election cycle, heralding the beginning of a new executive council dedicated to scaling Nigeria’s digital economy.
The highly anticipated elections concluded recently with the emergence of a new leadership team poised to champion industry standards, foster innovation, and drive widespread adoption of blockchain technology across the country.
The newly elected executives, who will officially assume their roles in January 2026, represent a blend of legal, financial, and technical expertise critical for navigating the evolving regulatory landscape.
Leading the charge is Mela Claude-Ake, a lawyer, who has been elected the President of SiBAN to succeed the outgoing President, Obinna Iwuno, whose tenure was marked by significant achievements, including facilitating crucial reforms and forging strategic partnerships with regulators and other critical stakeholders in the digital asset industry. Mr. Iwuno will formally hand over the reins to the new council in January 2026.
Other elected to the executive council are Chimene Chinah – Vice President 1, in charge of Blockchain education and adoption; Oroke Cornelius – Vice President 2, in charge of membership, strategic partnerships, and funding; and Ayo Shonibare – Vice President 3, in charge of policy, regulation, and ethics.
Others are Ugochukwu Peters – Vice President 4 in charge of digital asset operations and capital markets, Mbene Vivian – Chief strategy officer in charge of projects and incubation, Olufunmilayo Tugbobo as Financial Secretary/Chief Financial Officer, and Chiemeka David Ohajionu as Chief Communications Officer.
The newly elected council’s structure reflects SiBAN’s commitment to addressing key pillars of the blockchain ecosystem: from grassroots education and fostering innovation through projects, to establishing robust regulatory frameworks.
In his acceptance speech, Mela Claude-Ake emphasized the vital role SiBAN plays in shaping the future of finance and technology in Nigeria.
“The trust placed in this new council is not one we take lightly. We inherit a great foundation built by the outgoing team. Our mission now is to accelerate. We stand at a critical juncture where the potential of blockchain to revolutionize every sector, from finance and governance to supply chain, is undeniable. This new council will focus relentlessly on advancing smart, collaborative regulation, democratizing blockchain education, and protecting the interests of all stakeholders to ensure that Nigeria remains a leader in the African digital economy space,” he assured.
He added that he is humbled by the opportunity to be the face of one of Nigeria’s youngest and most promising sectors — blockchain tech.
“As a tech enthusiast I am excited at the possibilities. The ecosystem needs careful nurturing by the government. My administration will be focused on building new bridges for the blockchain sector internationally and domestically, establishing trust with the public and unifying the sector. I enjoin all blockchain stakeholders in Nigeria, connected to Nigeria or of nigerian heritage to join hands together with my administration in building the industry of our dreams.”
The industry now looks forward to the handover ceremony in January 2026 and the initiatives the new SiBAN leadership will unveil to solidify the association’s role as a catalyst for innovation and a respected partner to the Nigerian government.
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