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Management session
By Patricia
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Topics covered
• Ideas of growing CFI• Need identification for customers• Who is responsible for marketing CFI• Developing partnerships for CFI• Sharing of best practices• Member retention strategies• Challenges• opportunities
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Ideas of growing CFI
• Aggeresive/guirella marketing• Communication (sms, radio, bloging))• Advertising (web development)• Custo-service• Collaboration in marketing by CFI• Networking• Social media• Word of mouth• Personalised marketing• Personal presentations
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Need identification
• Why members join comercial banks • Banking platform system (cards, efficiency)• Publicity/promotion (CfI and government)
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Who is responsible for marketing CFI
• CFI themselves• Collaboration within CFI (province, sector)
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Developing partnerships for CFI
• Local businesses• SEDA for marketing vochers
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Sharing Best practices
• NACFISA (CFI directory, uniform leaflets, TV advert/advocacy
• Member education/awareness
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Member retention strategies
• Custo service (equitable treatment)• Transparency• Mass gattherngs/agm• Study circles• Open days (managers meetings/ bring one member
days)• Declare dividends on AGM• Brand ambassodors• Market reseach analysis (info, Products, documents,
suggestion box)
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challenges
• No annual fees paid to NACFISA• Foreign ownership of business (opportunity)• Managers autonomy (micro management by
directors)• Commercial banks
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opportunities
• Can develop new products• Know your customers better• Hidden economy (spaza shops/hawkers• CBDA will launch banking platform soon.