Creating a Sense of Trust
Bruce Meraviglia , Technology & Marketing Editor [ Microfinance Focus ]
theme for this month’s issue is Social Performance Management (SPM), as highlighted in several of our articles. In our first Marketing Reflections column (February 2009), I mentioned that one of the primary roles of the marketing department was the creation of a brand image for its organization; in our context, the MFI it is a part of. A key to the creation of any brand, especially one that you would like to have enduring value, is the sense of being able to trust the company the brand represents. In the creation of that sense of trust, the marketing department should play a central role – the role being to communicate to those who are involved with the MFI (e.g., customers, employees, management, funds lending organizations, and regulators) that the MFI is credible, trustworthy, and transparent in the performance of its mission to lend to those individuals who are at the “Bottom of the Pyramid” (BoP) – the BoP represents the approximately 1 billion+ people who are the poorest of the poor, and usually unable to open accounts or receive loans from conventional banks.
Microfinance Focus [ April 2009 ] 9
Published on Apr 18, 2009