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Bootstrapping to significance - The Nigeria Property Centre Journey

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Nigeria Property Centre is a leading property website in Nigeria that simplified the process of searching for property for rent and sale. Since established in 2011, Nnamdi has overseen the growth of the company which now has over 33,000 property listings on the website covering over 250 localities in Nigeria and attracting over 370,000 visits monthly (as at September 2017).

In this presentation, Nnamdi discusses bootstrapping using Nigeria Property Centre as a case study.

Published in: Business
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Bootstrapping to significance - The Nigeria Property Centre Journey

  1. 1. Bootstrapping to Significance The Nigeria Property Centre Journey
  2. 2. The Problem Property Seeker Agent finds knows Agent knows Agent has mandate House hunting nightmares Other Agents Other Agents Other Houses Other Houses
  3. 3. The Problem Property Seeker get in car drive around To Let contact Agent view House hunting nightmares
  4. 4. The Solution Property Seeker Nigeria Property Centre Agent Agent Agent
  5. 5. Some Stats How we’re performing Daily Visits 13,000 63,700 Added this YearAgents 8,500 250 Areas Covered
  6. 6. How did Nigeria Property Centre become a leading property website in Nigeria while bootstrapping?
  7. 7. Determine the right strategy for your business considering the resources at your disposal. 1. Know Your Capability Limits …and plan around it
  8. 8. 1. Know Your Capability Limits (Examples) …and plan around it 1 – 3 staff No contact phone line but excellent and quick chat/email support Self-service website (agents manage their own listings) Automation, automation, automation Subscription based rather than commission based Limited marketing budget Target online users only
  9. 9. Focus on the real numbers that move the needle…not vanity metrics. 2. Know Your Numbers …the real ones, not vanity metrics
  10. 10. 2. Know Your Numbers (Examples) …the real ones, not vanity metrics Internet penetration (91 million1) Potential target audience on Facebook across Nigeria (18 million2) Number of visits Number of converted visits visitors Number of agents Number of active agents Note: Most of the figures on the stats slide are vanity metrics and provided to make a point on this slide. 1 https://www.vanguardngr.com/2017/07/internet-users-nigeria-hit-91-6m 2 Attempt creating a Facebook ad and select Nigeria as the only targeting option
  11. 11. 2. Know Your Numbers …the real ones, not vanity metrics • Manage your expectations • Drive the roadmap for your product • Use resources wisely Knowing your numbers helps you:
  12. 12. Questions?
  13. 13. Nnamdi Chineme nchineme@nigeriapropertycentre.com @nchineme

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