Lessons from MicroSave's Action Research Programme (2001): Report

This report documents the progress made by MicroSave under its Action Research Programme during 2001. It states that:

• 2001 marked the first year of MicroSave's expanded action research programme;
• MicroSave expanded from two to eight Action Research Partners;
• The range of activities included:
  • Market research for microfinance,
  • Product modification,
  • Development and implementation of pilot tests,
  • Product costing,
  • A review of an incentive scheme,
  • Marketing workshops,
  • Experience sharing workshop.

Further, the paper:

• Presents MicroSave's package of services;
• Summarizes the lessons learnt from its program;
• Covers the selection of its Action Research Partners;
• Presents an overview of results;
• Details the activities undertaken with each partner.

Finally, the paper summarizes the key lessons learnt by MicroSave during 2001:

• Plan, review and re-plan product development;
• Build feedback loops into the process of product development;
• Utilize participatory market research to design a winning product;
• Use market research to identify quick wins;
• Mainstream the product;
• Develop confident financial projections;
• Uncover and understand loss making products;
• Pay attention to product and product pricing;
• Craft a well-designed incentive scheme to enhance staff performance;
• Build capacity within its partners to develop and promote their own financial services;
• Develop a technology solution appropriate to the pilot test;
• Consider contracting-out services;
• Facilitate the communication of products to staff and customers in clear, concise client-friendly language.