Crafting Meaningful Messaging & Incentive Structures for a Microfinance Bank

MMBL targets women micro-entrepreneurs to boost awareness and usage of digital financial services.

The Challenge

Mobilink Microfinance Bank (MMBL) observed a lack of awareness and engagement with Dost, their digital financial product, particularly among women micro-entrepreneurs. Despite tailored services for this underserved segment, uptake and active usage remained low. Recognizing a significant opportunity for growth and impact, MMBL aimed to increase the adoption of their digital financial services (DFS) among these women.

Given the diverse needs of rural versus urban segments and varying levels of technology access, it was crucial to understand the unique context and barriers faced by potential users. MMBL approached Ideate Innovation to uncover these insights, craft compelling messaging to increase awareness, and design incentives to promote user engagement.

I knew that we were asking for a lot of work and we weren't exactly sure how it would all get done! But I am so glad I trusted the folks at Ideate Innovation to get it done. I was especially impressed by how they ran the design sprints and kept us updated daily. I was finding out new information about our product perceptions every single day, and I'm truly excited to implement the changes they've suggested.

Engagement Manager, Dost at MMBL

The Work

Understanding the Product and Challenges

Our journey began with an in-depth engagement with MMBL stakeholders to fully comprehend Dost's features and the challenges it faced, particularly among women micro-entrepreneurs. This foundational understanding helped Ideate tailor its strategies

Identifying Influential Stakeholders

We conducted comprehensive research and co-creation activities with the target users to understand their pain points and preferences. This involved:

  • Direct Conversations with Women micro-entrepreneurs: We gathered insights into the barriers, including safety concerns and financial behaviours, that influenced their decisions around DFS adoption and usage.
  • In-depth Understanding of Experiences: We aimed to understand their experiences with digital financial services within their contexts. This helped us gain insights into how the physical, social, and cultural context influences their use of DFS.
  • Community Influences: Recognizing the importance of community and influential figures in the users' decision-making processes, we identified key stakeholders and analysed their roles. This included community leaders, local influencers, and peer networks that could be leveraged to drive engagement and build trust among the target demographic.
Prototyping and Testing Marketing Concepts

We developed multiple visual and written marketing concepts, each designed to resonate with the target audience. These prototypes were rigorously tested with users to gather feedback and refine the messaging for maximum impact.

The Outcome

Designing Relevant Incentives

Understanding that incentives play a crucial role in driving user behavior, we identified and designed relevant incentives tailored to the needs and motivations of the target users. These incentives were strategically crafted to encourage engagement with Dost.

Delivering Insights through Design Sprints

Employing Design Sprint Methodologies, we provided MMBL with weekly insights and recommendations. This agile approach ensured continuous improvement and kept the client informed of our progress, allowing for iterative refinement based on real-time feedback.