Management session

By Patricia

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

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

Need identification

• Why members join comercial banks • Banking platform system (cards, efficiency)• Publicity/promotion (CfI and government)

Who is responsible for marketing CFI

• CFI themselves• Collaboration within CFI (province, sector)

Developing partnerships for CFI

• Local businesses• SEDA for marketing vochers

Sharing Best practices

• NACFISA (CFI directory, uniform leaflets, TV advert/advocacy

• Member education/awareness

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)

challenges

• No annual fees paid to NACFISA• Foreign ownership of business (opportunity)• Managers autonomy (micro management by

directors)• Commercial banks

opportunities

• Can develop new products• Know your customers better• Hidden economy (spaza shops/hawkers• CBDA will launch banking platform soon.