Paper

Lessons from MicroSave's Action Research Programme (2003): Briefing Note

What should be the approach for market-led research?

This paper lists down lessons learnt and disseminated by MicroSave, under its action research program during 2003. Many of MicroSave's program have experienced significant growth through following a market led approach.

The lessons listed are:

  • Avoiding unplanned explosive growth through carefully prepared institutional response;
  • Financing a market-led expansion;
  • Preparing for take off through:
    • Appropriate policies, procedures and management systems;
    • Upgraded liquidity and treasury management systems;
    • Development of new mechanisms for managing credit risk;
    • Decentralization of decision-making along with the development of regional management structures;
  • Automating growth;
  • Rollout of financial services through standardized approaches;
  • Carrying process mapping to improve the delivery of market led financial services;
  • Strengthening internal and external communications
  • Marketing of financial services by word of mouth;
  • Influencing word of mouth through:
    • Delivering services to clients, in the manner they want, and to carefully communicate the financial service;
    • Completing the feedback loop;
    • Corporate branding to influence customer perceptions;
    • Building public relations.
  • Improving customer service;
  • Automating costing systems;
  • Developing products which can be effectively institutionalized;
  • Rapid rollout through standardization and maintaining a consistent multi-skilled team;
  • Partnering to develop and enhance delivery channels through:
    • Financial literacy;
    • An appropriate distribution strategy;
    • Supportive infrastructure and communications;
    • An appropriate regulatory environment.

About this Publication

By Cracknell, D., Sempangi, H., Mukwana, P., Wright, G. A. N.
Published