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Saturday, August 25, 2012


How to Maximize Profit on M-pesa, tigo pesa, Airtel money and Z-pesa

Over the recent years mobile phone based money payment methods have gained success. The notable brands being m-pesa, tigo pesa, airtel money and Z-pesa in Tanzania. Apart from the mobile company giants enjoying the revenues generated, the business has provided a means of income to the agents as well leading to many business becoming agents. In this regard, the agents are the people interfacing the customers for the operators. Agents open accounts, do customer care and stock adequate cash and e-float to enable customers to deposit and withdrawal. In this post, we look at the best practices agents can apply to maximize their earnings.

Business location
One of the key factors driving the mobile phone payment methods is the volume of transactions. The agent's commission is proportional to the number of transaction he/she has processed. Thus positioning your business at a place which is populated and would likely have customers such as a bus stand, market, or a busy shopping place would attract more people than in remote areas.

Capital
This is also another factor to look at when considering becoming a successful agent. Normally the capital is put into two parts, that is the hard cash and the e-float and the agents uses both of them for withdrawal and deposits services. Withdrawal happens when a customer has e-money on his/her phone and wants to exchange it with cash. This transaction involves the user sending(withdrawing) that value to the agent till via the withdraw cash option in his/her phone menu. This transaction increases the agent's e-float value but reduces his/her cash value. Deposit is the opposite of a withdrawal and it’s when a customer has cash and wants to have e-float on his/her phone. This type of transaction enables customers to send money to different accounts, pay for services, buy goods, airtime and other operator based services. For the agents to compete well in the market he/she has to have enough both hard cash and e-float. Customers are more likely to be dissappointed if you lack any of them.

Good customer care.
Ensure you have a strategy to make sure a new customer will come back next time because of your good services. Good customer care includes a good office that offers security and privacy and good communication with customers.

Offer Multiple Outlets
Having your mobile payment business structured in multiple outlets enables you maximize your revenue. However before you establish a new outlet you should make sure you have enough capital as discussed above so that you maintain your customers. With enough capital, having multiple outlets will enable you to enjoy the business with a superb income generation.

Offer different mobile payment operators services.
Trying to offer what the market desires is a key to your business success. If you offer a service for only a particular provider say airtel money, you will loose customers looking for tigo pesa, m-pesa and z-pesa services. The best you can do is to study your market and offer what they desire.

Register new users
Customers who are not registered cannot use the service for sending e-float to other accounts and paying for bills except for receiving. To enable these customers use all services and increase your chance of earning a commission, try to spread the good word to them to register their accounts.

For more professional advice on  how to maximize your income through the mobile payment methods, please contact us.

Thursday, August 23, 2012

Why small businesses should go Online

It feels a little awkward when you meet a client that asks for your website so that he can have a good understanding of your products just to learn you dont have one.

Many small businesses still hesitate to claim a place on the internet due to several reasons. The internet though, has a number of advantages that small business would benefit from as explained in this post.

1. Online Marketing
According to internetworldstats, as of December 31, 2011, there are 2.2 billion internet users worldwide. How many customers would likely be interested with your product? Building a website and invest in online marketing brings higher returns than traditional marketing. Apart from being huge and targeted, online marketing is cheaper and enables good conversion tracking.

2. Business Presence 24/7
Even when you are not there to offer services or goods, the internet acts as a salesperson reducing the staffing concerns you may have while increasing customers satisfaction and sales.

3. Knowing your Customers 
The internet offers a number of analytical tools that will help you know your customers better by tracking their experiences and shopping patterns. In addition you may want to set up a survey to figure out your customers' impression on your business and the improvement they want from your business.

4. A source of information
Being online provides you with an opportunity to provide information that can not be found elsewhere. This could be a place where you give details to the goods or services you are offering, how your business can be reached and other important information

5. Engage you Customers
Through the use of the social networks, it is easy for you to create a page and let your customers share experiences on your products.

6.Act Professional
Having a business on the internet is what your customers expect. It gives them assurance on the legitimacy of your business. A professional looking site increases your customers confidence and can improve on the sales.

There are good number of online technologies today that would offers a proper solution to the existence of your site online. For assistance, support  and professional advice, please do not hesitate to contact us.