The role of word-of-mouth in MFS adoption

I recently attended a discussion where the best ways to market Mobile Financial Services were discussed. Very valid ways of explaining the benefit of a new type of financial utility were mentioned. One could use Radio and printed media. Billboards and displays of the message on storefronts were also thought to be a good mechanism to sell the concept. Of course, if the budget allows for it, television is always a good marketing tool.

Experience seems to indicate that word-of-mouth almost invariably plays the biggest role in ensuring a fast roll-out. The need to engender trust in a foreign product is best accomplished by what people you trust tell you. If it is possible to get clients to start convincing prospective clients to join this works best and this is the way that a revolution is started. Some MFS operators have attempted to stimulate Word-of-Mouth campaigns by actually paying clients for signing up new clients. It turns out that the only way that it is possible to achieve a true Word-of-Mouth campaign is by delivering a product that meet the needs of clients. Actually exceeds the needs of clients.