SAP Mobile Services: Driving mobile money usage in unbanked regions

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SAP Mobile Services: Driving mobile money usage in unbanked regions

  1. 1. Driving Mobile Money Usage In Unbanked Regions SAP Mobile Services, Operator Guide 2013 M. Yasmina McCarty, Senior Manager, GSMA MMU
  2. 2. Driving Mobile Money Usage In Unbanked Regions The mobile money industry is growing fast but customer activation remains a challenge...
  3. 3. Driving Mobile Money Usage In Unbanked Regions Today there are over 130 live mobile money deployments, up from the approximately 20 at the beginning of 2009. There is also a significant increase in the number of registered users. However, while top line growth has been impressive, customer activation rates lag behind. Some deployments boast an 80 percent active customer rate but others have activated just 0.2 percent of registered customers.
  4. 4. Driving Mobile Money Usage In Unbanked Regions Understanding the Mobile Money Customer Journey is key.
  5. 5. Driving Mobile Money Usage In Unbanked Regions Mobile money services face a range of common problems, such as:   Customers are aware of the mobile money service, but do not understand how it could be beneficial to them.   Customers get bogged down in the registration process and never try the product.   Customers don’t understand the mechanics of performing transactions and are hesitant to try something as novel as mobile money.   Customers don’t trust the operator’s brand or network and are hesitant to conduct financial transactions.
  6. 6. Driving Mobile Money Usage In Unbanked Regions To combat these reservations, service providers need to understand the stages of the customer journey:
  7. 7. Driving Mobile Money Usage In Unbanked Regions Awareness & Understanding At the start of the their journey, customers become aware of the existence of a mobile money service but that’s not enough. Mobile money services must also build understanding to help users see how this new service is both relevant and beneficial to them.
  8. 8. Driving Mobile Money Usage In Unbanked Regions Knowledge Once the customer understands what mobile money is, what it does and how it could be useful to them, they need to learn how to transact.
  9. 9. Driving Mobile Money Usage In Unbanked Regions Trial & regular use Once a customer is aware of the mobile money service, knows what it is, is convinced that it can be useful to them, and understands the processes for performing transactions, then they are ready to try the service. Customer registration is also important. In situations where customers struggle to meet KYC requirements, the registration process becomes so onerous, that customers would rather not enrol in the service.
  10. 10. Driving Mobile Money Usage In Unbanked Regions Effective approaches for driving usage Need-based segmentation can be a useful first step, quantifying the customer segments that have a frequent need to make high volumes of remote payments.
  11. 11. Driving Mobile Money Usage In Unbanked Regions Equally important is the focus on the segment of customers that is suffering from the most acute ‘pain points’ that mobile money might solve. With the target market selected, mobile money marketing is the process of persuading potential customers to become regular users. Awareness-building campaigns, typically done through mass media advertising campaigns, help customers learn what mobile money is and how mobile money might be useful to them.
  12. 12. Driving Mobile Money Usage In Unbanked Regions Leverage mobile money agents To leverage mobile money agents for effective BTL customer activation, there are three important considerations:       Training: Well-trained agents are proven to be effective in driving customer activation. Incentives: It is important that agents have been incentivised properly for both registration and usage, and for the balance between those incentives to be right. Oversight: Agents can be a powerful force for driving customer adoption. Unfortunately, if unsupervised, these agents can just as easily drive customers away.
  13. 13. Driving Mobile Money Usage In Unbanked Regions Driving customer adoption and increasing activation rates in mobile money is no easy task. But understanding the customer journey, segmenting and prioritising the target market and identifying the best suited marketing tactics to move the user through each stage, can help mobile money services achieve high customer usage rates.
  14. 14. Driving Mobile Money Usage In Unbanked Regions For the complete article, updates and to join the conversation please visit: https://community.sapmobileservices.com Download the complete guide here: http://sap.com/mobileoperatorguide
  15. 15. © 2013 SAP AG or an SAP affiliate company. All rights reserved. No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP AG. The information contained herein may be changed without prior notice. Some software products marketed by SAP AG and its distributors contain proprietary software components of other software vendors. National product specifications may vary. These materials are provided by SAP AG and its affiliated companies ("SAP Group") for informational purposes only, without representation or warranty of any kind, and SAP Group shall not be liable for errors or omissions with respect to the materials. The only warranties for SAP Group products and services are those that are set forth in the express warranty statements accompanying such products and services, if any. Nothing herein should be construed as constituting an additional warranty. SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices. ©  2013 SAP AG or an SAP affiliate company. All rights reserved. 15

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