Eli Kpodo tells the MTN Mobile Money story
Eli Kpodo, Brand & Advertising Manager, MTN, has stated that effective brand building hinges on a fusion of commitment, professionalism and research.
He said this when he interacted with the MA Marketing Strategy’s Financial Services Marketing Class of the University of Ghana Business School.
Mr. Kpodo’s lecture forms part of UGBS’s aim of providing quality business education through the blend of theory and practice.
Telling the MTN Mobile Money story and the journey thus far, Eli Kpodo revealed that research was central to the successful launch of the MTN Mobile Money.
“A lot of study went into it and we realised that majority of Ghanaians have been left out of the banking not just because of the lack of desire, but due to the intimidating and tedious nature of the banking sector”, he said.
Speaking further on the initial struggles that MTN faced, he noted that: “When we introduced Mobile Money for the first time in 2009, we struggled because majority of Ghanaians have trust phobia for any new services. People did not understand the concept of a cashless system and so they had doubts in the beginning”.
He observed that despite the difficult beginnings, the mobile money story is one of the most successful stories in financial services today. The service today is a major sub-brand of MTN and is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using a mobile phone.
The service is offered by MTN in partnership with over fifteen (15) banks currently. Brand building, he therefore noted, requires patience, commitment and assertiveness sustained over a period of time. He then entreated students to remain focused and patient in order to build successful brands and also understand the demographics of the people before modelling a product.