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TAILORING
FINANCIAL 

SERVICES
Creating Successful Product & Service
Offerings for varied Socioeconomic
Backgrounds
SCOT...
O B J E C T I V E S
basics of product
development
understanding ecosystems
entering new markets
leveraging segments &
pers...
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Product
Place
People
Price
Promotion
Position
Marketing
6 P’s
B A C K T O B A S I C S
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** Maslow’s Hierarchy of Needs
Common
Price Sensitivity
Loyalty
Eco-Systems
Trust &Tangibility**
Poverty Premium
Biologi...
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Turning subscribers into banking clients
People: Research & Identify Market Traits
Identify the Community Unit
Sample Te...
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Which segment and type of client use P2P payments?
Everyone has the potential to use p2p
Identify community members that...
+M O N E Y I N A L I F E
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Is it the way to get users to be continuous subscribers?
Adoption of electronic money in the community is key
Place: The...
+O P P O R T U N I T I E S
+

How to get the customer to use the mobile for bill payments, funds transfer, etc?

Re-visit market identification data ...
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Applying to people with different background
Use the market identification & entry models
Find engaged local partners an...
+ 12
Stakeholder
Engagement
Penetrate
Accessibility
Control
Sustain &
Learn
Re-Plan
Execute
JourneyT H E L O N G G A M E
C...
y o u r g u i d e t o m o b i l e s u c c e s s
T H E F U T U R E I S M O B I L E
b i t . l y / m o b i l e re a d y b o o...
TAILORING
FINANCIAL
SERVICES
s c o t t e b a l e s . c o m / f e e d b a c k
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Tailoring Mobile Financial Services Products

Tailoring mobile based financial products to any market can be achieved through a simple planned approach.

Tailoring Mobile Financial Services Products

  1. + TAILORING FINANCIAL 
 SERVICES Creating Successful Product & Service Offerings for varied Socioeconomic Backgrounds SCOTTEBALES.COM
  2. O B J E C T I V E S basics of product development understanding ecosystems entering new markets leveraging segments & personas incentivizing adoption evolving products & service
  3. + Product Place People Price Promotion Position Marketing 6 P’s B A C K T O B A S I C S
  4. + ** Maslow’s Hierarchy of Needs Common Price Sensitivity Loyalty Eco-Systems Trust &Tangibility** Poverty Premium Biological Safety Needs Single Use Purchasing Variable Disposable Income Belongingness** Language Skills Technology Skills Entrepreneurship Geographic Spread Source of funds Local Religious National Saving Method Family Model M A R K E T I D E N T I F I C AT I O N People
  5. + Turning subscribers into banking clients People: Research & Identify Market Traits Identify the Community Unit Sample Test Penetration Activities Build a Sustainable mCommerce Community Unit Document & Refine Penetration Approach Follow Natural Cash Flows and re-apply Stakeholder Engagement Penetrate Accessability Control Sustain & Learn Re-Plan Execute Journey E N T E R I N G N E W M A R K E T S
  6. + Which segment and type of client use P2P payments? Everyone has the potential to use p2p Identify community members that sent money, but either: Pay a premium for basic money transfers Find it inconvenient to send money Understand the movement of money within a community and it’s affiliated communities Migrant workers, both domestic and international provide the most obvious p2p opportunity Use p2p as a customer acquisition opportunity P 2 P PAY M E N T S
  7. +M O N E Y I N A L I F E
  8. + Is it the way to get users to be continuous subscribers? Adoption of electronic money in the community is key Place: The best entry points are the communities source of funds The largest source of funds is labor markets. Also, the employer of the largest p2p opportunity Positioning: Salary Payments ‘win-win’ for employer and employee But how do you get salary money to remain in the system? S A L A RY PAY M E N T S
  9. +O P P O R T U N I T I E S
  10. +
 How to get the customer to use the mobile for bill payments, funds transfer, etc?
 Re-visit market identification data & community cash flows Look for pain-points in current cash services Appeal to the dreams and aspirations of the market Positioning: Perception of attainability Incentivise entire value chain Reward loyalty Promotion: Education, Trust & Awareness are key I N C E N T I V I Z E A D O P T I O N
  11. + Applying to people with different background Use the market identification & entry models Find engaged local partners and seek to understand: People Maintain the Product, tailor the Distribution & Positioning Collaboration between Banks & Operators (Product & Place (Distribution) Model) Visit & Listen to the communities Work with the community on pilots and proposition testing A foreigner learning local language builds a bridge of trust E V O L U T I O N
  12. + 12 Stakeholder Engagement Penetrate Accessibility Control Sustain & Learn Re-Plan Execute JourneyT H E L O N G G A M E Continuous building, measuring and learning
  13. y o u r g u i d e t o m o b i l e s u c c e s s T H E F U T U R E I S M O B I L E b i t . l y / m o b i l e re a d y b o o k
  14. TAILORING FINANCIAL SERVICES s c o t t e b a l e s . c o m / f e e d b a c k

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