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

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