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3 strategies and tactics for Microfinance

What is Microfinance strategy?

Every great achievement starts with a well-thought-out plan. It can be the launch of a new product, expanding into new markets, or just trying to increase efficiency. You'll need a delicate combination of strategies and tactics to ensure that the journey is smooth and effective.

Finding the right Microfinance strategy can seem daunting, particularly when you're focused on your daily workload. For this reason, we've compiled a selection of examples to fuel your inspiration.

Copy these examples into your preferred app, or you can also use Tability to keep yourself accountable.

How to write your own Microfinance strategy with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own strategies.

Microfinance strategy examples

You will find in the next section many different Microfinance tactics. We've included action items in our templates to make it as actionable as possible.

Strategies and tactics for delivering comprehensive microfinance solutions

  • ⛳️ Strategy 1: Expand geographical reach

    • Identify potential regions for expansion based on market research
    • Establish partnerships with local financial and non-financial organisations
    • Set up pilot branches in key areas to assess feasibility
    • Hire and train local staff to understand specific regional needs
    • Implement mobile banking solutions to reach underserved areas
    • Promote services through local marketing campaigns
    • Engage with local communities through outreach programmes
    • Monitor and evaluate branch performance regularly
    • Adjust services based on customer feedback and regional demands
    • Develop a plan for scaling successful pilots in other regions

  • ⛳️ Strategy 2: Enhance product offerings

    • Conduct customer surveys to identify unmet financial needs
    • Develop tailored microfinance products based on customer feedback
    • Introduce flexible repayment options to accommodate customer cash flows
    • Leverage technology to streamline loan application processes
    • Provide microinsurance products as an added value service
    • Implement digital savings accounts with competitive interest rates
    • Collaborate with tech companies to develop user-friendly fintech solutions
    • Offer financial literacy programmes to educate customers
    • Regularly update products based on market trends and customer usage
    • Track product performance through customer satisfaction metrics

  • ⛳️ Strategy 3: Strengthen customer relationships

    • Set up dedicated customer service teams to address client queries
    • Implement CRM software to manage customer interactions effectively
    • Develop customer loyalty programmes to retain high-value clients
    • Conduct regular customer feedback sessions to understand pain points
    • Create personalised communication strategies for different customer segments
    • Organise workshops and seminars on financial management for clients
    • Utilise social media for community engagement and customer interaction
    • Provide incentives for referrals and word-of-mouth marketing
    • Analyse customer data to personalise service offerings
    • Evaluate customer relationship strategies through retention rates
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Strategies and tactics for filling Recruitment Gaps in Microfinance

  • ⛳️ Strategy 1: Leverage Online Job Portals

    • Identify and list the most popular job portals for finance professionals
    • Create compelling job descriptions highlighting benefits and growth opportunities
    • Post job openings on selected job portals
    • Set up automated email responses to acknowledge applications
    • Regularly update job listings to keep them relevant
    • Use premium services on job portals to increase visibility
    • Monitor and analyse the performance of job postings
    • Schedule initial interviews with shortlisted candidates
    • Collect feedback from candidates to improve the recruitment process
    • Repeat the process for different role types and locations

  • ⛳️ Strategy 2: Utilise Employee Referrals

    • Develop a referral programme with attractive incentives for current employees
    • Communicate the referral programme guidelines and rewards clearly to all employees
    • Create an easy-to-use referral submission process
    • Regularly remind employees about the referral programme through internal communications
    • Highlight successful referral stories to motivate employees
    • Offer training sessions on how to identify potential candidates in their network
    • Acknowledge every referral submission to keep employees engaged
    • Monitor the performance and effectiveness of the referral programme
    • Adjust incentives based on performance data and feedback
    • Collect feedback from employees about the programme to make necessary improvements

  • ⛳️ Strategy 3: Partner with Educational Institutions

    • Identify universities and colleges with strong finance programs
    • Establish partnerships with these educational institutions
    • Participate in career fairs and on-campus recruitment events
    • Develop internship programs to attract students early in their careers
    • Offer guest lectures and workshops to build brand presence
    • Create a graduate recruitment programme with structured career paths
    • Leverage alumni networks to seek potential candidates
    • Host informational sessions to introduce the microfinance industry
    • Collect and analyse feedback from campus events to improve recruitment strategies
    • Maintain relationships with career services offices for ongoing recruitment opportunities
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Strategies and tactics for enhancing Bkash MFI Branch Conversion

  • ⛳️ Strategy 1: Establish strategic partnerships with NGOs

    • Identify and list potential NGO partners for collaboration
    • Develop partnership proposals highlighting mutual benefits
    • Organise joint workshops with NGOs to train staff on using Bkash services
    • Create co-branded marketing campaigns to promote the partnership
    • Incorporate NGO feedback into product development and refinement
    • Schedule regular meetings to assess partnership progress and impact
    • Recognise and celebrate successful NGO partnerships in public forums
    • Offer special incentives for NGO referrals that lead to conversions
    • Develop a shared long-term vision with key NGO partners
    • Ensure seamless integration of Bkash services into NGO operations

  • ⛳️ Strategy 2: Optimise digital user experience

    • Conduct surveys and collect user feedback to understand pain points
    • Simplify the onboarding process for new users with clear instructions
    • Enhance the mobile app interface for ease of use and navigation
    • Develop instructional guides and videos for app features
    • Introduce real-time customer support through chat and helplines
    • Monitor app performance and resolve any technical issues promptly
    • Personalise user notifications and alerts based on activity and preferences
    • Implement a reward system for users meeting certain activity thresholds
    • Regularly update mobile app features based on user needs
    • Ensure robust security measures to build user trust in the platform

  • ⛳️ Strategy 3: Implement targeted marketing campaigns

    • Identify key demographics and regions for focus in marketing efforts
    • Leverage data analytics to understand user behaviour patterns
    • Develop dedicated campaigns to highlight benefits of branch conversion
    • Use social media platforms to reach potential and existing users effectively
    • Collaborate with local influencers to increase product visibility
    • Distribute promotional materials in collaboration with NGO partners
    • Offer limited-time promotions to encourage quick conversions
    • Host community engagement events to demonstrate product usage
    • Track marketing campaign effectiveness and adjust strategies accordingly
    • Measure campaign ROI and reallocate budgets based on performance
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How to track your Microfinance strategies and tactics

Having a plan is one thing, sticking to it is another.

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.

A tool like Tability can also help you by combining AI and goal-setting to keep you on track.

More strategies recently published

We have more templates to help you draft your team goals and OKRs.

Planning resources

OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:

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