Microfinance institutions around the world have stimulated even the most destitute communities, providing viable commerce, education, and even shelter for those whom otherwise would not have the resources.
There is a major problem, though: many people have no idea that there is a microfinance institution in their community, or if they do, they don’t realise what services could potentially be available to them.
Unlike AIG and Bank of America, most microfinance institutions are so concerned with using every dollar to best effect that devoting millions to advertising campaigns is simply not a viable option.
This is where grassroots marketing comes into play. Rather than a complex marketing plan breaking down logistics and targets that doesn’t mean anything to anybody but marketers, grassroots marketing strategies ask microfinance institutions to back up, and answer one simple question. Why?
This could be as simple as highlighting a specific success story, like a previously homeless man who now owns 3 restaurants that employ others that were in need. Real-world examples that will resonate with your intended clients. The only rule to this answer is to be honest. This keeps your community educated in the simplest way possible, while holding you accountable to the ideals you share.
The only other ingredient to a successful grassroot campaign is to tell your story. Tell it to everyone that will hear it, maybe even some that won’t. Tell it with the enthusiasm you had when you first went into the business. Invite your clients to tell their stories, and pass them along. There’s no more effective form of promotion than a recommendation from a friend or neighbor, and it happens to be the most affordable.