Lessons from MicroSave's Action Research Programme 2001 (Brief Note)

MicroSave learns and disseminates lessons relating to the product development process through its Action Research Program. This note documents the progress made by MicroSave during the year 2001. MicroSave had worked with 8 institutions as its Action Research Partners (ARPs) in 4 countries untill December 2001.

The paper lists the lessons learnt by MicroSave. These include:

• Planning, reviewing and re-planning combined with adequate resources;
• Mainstreaming the products and prioritizing new products;
• Designing a winning product utilizing participatory market research processes;
• Using market research to identify "quick win" ways to improve existing or new products, which do not take an elaborate pilot test;
• Developing financial projections that demonstrate product profitability;
• Building feedback loops into the process of product development;
• Uncovering and understanding loss making products;
• Paying attention to pricing the products;
• Crafting a well-designed incentive scheme to enhance staff performance;
• Building capacity within partners to develop and promote their own financial services;
• Emphasizing on simplicity and incremental development;
• Developing a technological solution appropriate to the pilot tests;
• Contracting-out certain services where suppliers exist and capacity is required;
• Identifying lapses in communication and communication of products to staff and customers in "clear, concise client-language" through the development of benefit statements and guides.

Access the compete report here.