WHY M-BANKING FAILS AND HOW TO FIX IT
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The latest presentation from empathic.Marketing by Andika Dewanto Need further information: contact us: hello@empathic.marketing Website: http://empathic.marketing
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WHY M-BANKING FAILS AND HOW TO FIX IT
- 1. WHY M-BANKING FAILS And how to fix it
- 2. What the experts get wrong about mobile banking
- 3. m-Banking should be successful they said, because..……………
- 4. Alternative for the unbanked 80% of the population has no bank account
- 5. People are excited and interested in m-Banking they want to check balance, transfer money, pay utilities
- 6. m-Banking saves time and cost cited main advantage of M-banking
- 7. But after a decade, m-Banking still has not taken off
- 8. The reason: m-Banking still has no relevance for Rural Indonesia 50% of the population
- 9. Alternative for the unbanked 80% of the population has no bank account the unbanked already has alternatives to banks
- 10. Alternative for the unbanked 80% of the population has no bank account People are excited and interested in m-banking they want to check balance, transfer money, pay utilities but these are not relevance to rural Indonesians
- 11. Alternative for the unbanked 80% of the population has no bank account People are excited and interested in m-banking they want to check balance, transfer money, pay utilities m-banking saves time and cost cited main advantage of M-banking but time poverty is not an issue for rural Indonesians
- 12. The experts are giving the right answers to the wrong questions
- 13. The fundamental problem: The opportunity is in rural areas, but current focus is in urban areas
- 14. Rural Indonesians are DIFFERENT than urban Indonesians
- 15. Urban Rural PAYING UTILITIES ATM Post Office
- 16. Urban Rural PREFERRED PAYMENT Credit Card Cash Only
- 17. Urban Rural TRUST Based on paper Social acknowledgement
- 18. Urban Rural LOAN Bank Money lenders
- 19. Urban Rural SAVINGS Bank Co-op
- 20. Current solution expected result current focus
- 21. But urban and rural are two distinct groups
- 22. Urban and rural each needs its own solution URBAN RURAL expected result ? current focus
- 23. Urban and rural each needs its own solution URBAN expected result What are we doing to capture rural early adopters? RURAL ? current focus
- 24. The question that needs to be asked is “Who are the rural early adopters?”
- 25. How well do you know rural Indonesians?
- 26. Get to know the rural market Enabling empathy for marketers http://empathic.marketing
- 27. Image Courtesy - First slide photo by Gates Foundation: https://www.flickr.com/photos/gatesfoundation/5180059792 - Diffusion of innovation graphic: http://www.smartinsights.com/marketing-planning/marketing-models/diffusion-innovation-model/ - Slide 25 photo by Bayu Putranto: https://www.flickr.com/photos/putrantobayu/5278978544