Marketing E/M-Banking More Deliberately and Strategically

This note highlights the need for marketing electronic/mobile-banking (e/m-banking) services. It derives its content from several field research initiatives undertaken by MicroSave along with its Action Research Partners (ARPs) in India, Indonesia, Kenya, South Africa, Colombia, Papua New Guinea and the Philippines.

MicroSave’s strategic marketing approach advocates a market oriented approach that uses market based information sources to develop first tier marketing strategies, such as product, branding and customer service. Sources of information will include target customers’ needs, competitors, customer service quality tracking, and external socio-economic and regulatory factors. MicroSave has repeatedly seen that most implementation issues have little to do with technology, and more to do with misunderstanding customer needs and not providing appropriate messages. Conclusions include:

• Marketing will expand to include customer service and delivery systems, as agent network managers and banks understand more of the determinants of customer satisfaction and successful products;
• Haphazard marketing will change for the better with the entry of large fast moving consumer goods companies and a continuous push from the more marketing savvy mobile network operators.