With a staggering eighty-five percent of the world’s population living in developing markets, numerous opportunities exist for companies to introduce novel and ground-breaking products and services. However, to cater to this demographic, industry pioneers must identify and comprehend the characteristics of the “next billion consumers” and develop products tailored to their specific requirements.
We had the pleasure of engaging in an insightful Q&A session with Derek Fears, Co-Founder and Head of Consumer Products at Emprego Ligado. Emprego Ligado, established in 2007 and located in São Paulo, Brazil, has rapidly emerged as the leading employment marketplace for blue-collar and service industry jobs in Latin America. Derek offered valuable advice to other product managers and executives looking to explore new markets based on the knowledge gained by his team. If you’re interested in hiring product managers, click here.
Thinking on a Hyperlocal Scale Yields Significant Results
Emprego Ligado’s goal is to create a more prosperous and improved world by connecting businesses with local workers. As Derek noted, this approach has numerous benefits, including financial performance gains and positive social and environmental impacts. By using Emprego Ligado, residents of São Paulo can reduce their average daily commute time from three hours to under one hour, reducing the strain on public transportation and greenhouse gas emissions. Furthermore, workers who reside within four kilometres of their office exhibit higher retention rates than those who live farther away, ultimately saving businesses the cost of recruiting and training new employees. You can learn about new eco-friendly companies that are here to stay by clicking here.
Think from a Business, User Experience (UX), and Technological Perspective
By adopting a comprehensive management strategy, Derek’s team was able to create a successful product. They considered not only the financial aspects but also the necessary user experience and technological capabilities. According to Derek, an effective product manager, whether remote or not, must consider profitability as well as user experience and technology to ensure successful implementation. Click here to hire product management developers.
In order to succeed as a product manager, it is crucial to utilise a framework for each project, particularly in developing countries where adaptability, localisation, and lightweight design are essential. For instance, in Brazil, where the majority of phone users have only 512MB of internal capacity, maintaining a minimal product design is critical for competing for screen space. An excellent example of this approach is the 1MB version of the Shazam app. This tactic is fundamental for customer acquisition in Brazil and other emerging nations.
Identify Your Most Demanding Customer and Cater to Their Needs
Derek stresses the significance of identifying the “extreme user” and comprehending how it applies to expanding markets. For instance, Aline from São Paulo serves as a compelling case study. Aline, a single mother with a high school diploma, is only able to secure a few temporary jobs each year, resulting in low income. She has limited access to a computer and relies on a feature phone that frequently runs out of credit. Due to a lack of internet connectivity, she never ventures beyond her local area and rarely embarks on journeys.
Emprego Ligado serves a diverse range of customers, many of whom operate in digital environments that vary significantly from Aline’s. They have more advanced mobile devices, reliable access to computers, and their digital behaviour resembles that of individuals in well-established countries. Additionally, there is a vast intermediary user group. By tailoring their product to address Aline’s challenges, Emprego Ligado has the opportunity to cater to all of these diverse demographics.
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