Project Everest


[Channels] Microfinance Amisen April 2019

Jamie Butler
Jamie Butler | 9 months ago | in ROA **TRAINING**

Channels Black Label

Lean Phase: Channels

Link to Results Post: 

We needed a means of distributing our financial plans across Holcombe and Jumtha. The core channel chosen for distributing this MVP was face to face (F2F) village consultations. This was needed as a key problem identified for the customer segment was the fact that they are lacking in financial education, for example having no thoughts regarding saving money in the long term. F2F consultations provide the medium for helping customers understand the value and benefit of the MVP we are providing through open, honest discussion. This allows any concerns to be raised, as well as a more effective sell of the MVP which is related directly to the individual in the customer segment. 100% of all village consultations in Jumeirah resulted in the sale of the MVP, reinforcing that the personal connection you gain when talking to a customer directly about the product we provide is instrumental in gaining sales of the MVP.

Village Chiefs Pablo

Meetings organised through the authority of the village chief managed to provide more reach more efficiently but reduced our conversion rate significantly. For instance where we achieved nearly 100% conversions with our face to face contacts, our conversion rate within a meeting organised by the village chief Pablo in Jumtha only amounted to 33% of the 15 attendees. However, this may largely be due to the fact that we were not physically present ourselves at this meeting and therefore we can reasonably hypothesise that our presence and pitch would have raised the conversion rate significantly. In this sense, this channel is still to be fully explored, experimented and optimised but nonetheless promises a more scalable solution than face-to-face channels.

Online Service

There is potential through our partnership with the Bank of Amasin to develop a mobile application which can inform the user about the service and allow them to formulate a Financial Plan, alike to the process that we do in person.

edited on 28th April 2019, 09:04 by Andrew Vild

Andrew Vild 9 months ago

Status label added: Channels

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