MicroSave Briefing Note # 30: Lessons from MicroSave’s Action Research Programme (2003)

Publication Date: 2004
Published by: MicroSave
Document Type: Paper

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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, and
• An appropriate regulatory environment.