Since the launch of mobile money platforms worldwide, there has been significant growth in the number of deployments. However, despite this success, the active user base has not grown with the same vigour as that of initial subscription. Current statistics show that for the 299m registered accounts, only 103m are ‘active’. An active user is defined as having performed at least one transaction in the last 90 days.
Though the challenges are not uniform across the various markets, operators have identified those that are specific to customer activity. Understanding these challenges is key to overcoming the gap between account adoption and consistent rates of activity. An emerging trend from innovative operators and financial service providers is to harness the potential of user stimulation and promotions with services such as mobile money or recharge in order to ensure uptake of their services.
Promotions are a particularly powerful tool to drive customer usage. A promotions campaign can be activated at different stages of the customer journey depending on the outcome that the service provider hopes to achieve. Employing a promotion at the point of registration for example, will provide the opportunity to trial mobile money, and to increase account subscription. Alternatively, promotions offered post registration, upon reaching a certain level of activity, can encourage usage and customer retention.
eServGlobal has developed an easy-to-use web-based application to create and manage promotions.
The self-service Advanced Customer Adoption (ACA) tool enables service providers to deliver targeted, customised and timely promotions, and rewards, each with a quick turnaround time to market. With a step-by-step approach to launching a promotional campaign, service providers can simply import or configure eligible customer lists, which will help drive the right strategy to achieve the most effective results.
For more information on the power of promotional tools in driving customer usage, including the ACA tool, please read our ‘Promotions’ White paper. If you are interested in trialling the ACA tool, please click here.