Ever wondered, what made EcoCash so popular???
Well, that’s a whole case study on its own which I’m a bit too lazy to do right now (sorry to disappoint). But…. I will talk about one of the reasons. See? It’s not all bad. After all, it’s a Friday!
So one of the reasons I will talk about today is: Accessibility.
So we all know that EcoCash was not the first mobile money platform to exist in Zimbabwe right? To be honest, I’m one of those people who for a while thought it was. In fact, the existence of the platform is what actually familiarised most Zimbabweans to the whole concept of mobile money – still is I think.
Anyway, before EcoCash, there was Skhwama (meaning pocket) then OneWallet. Of late, Techzim has been talking a lot about the latter (rebranded to OneMoney) since it recently finally launched its own debit card. Both Skhwama and OneWallet were great innovations but they failed on execution. I say that because despite Skhwama’s one year or so head start, according to POTRAZ, it still registers the least growth in terms of active subscribers.
And oh by the way, Skhwama is now known as Telecash, just in case you’re now wondering how you didn’t come across that name in any of the recent POTRAZ reports.
So despite EcoCash being last to come onto the scene, it made sure that no breathing man could ignore it. They made sure they were visible and in their visibility, quite accessible. So instead of just putting billboards that talked about EcoCash, they put them close to their EcoCash agents so that not only would you know about the service, but use it.
Same goes for their website. Besides the individual accounts login that some requested, the website has almost everything one can need to enquire from EcoCash without the need to call.
I commend it because I’ve gone through a lot of websites trying to get some specific information but no, websites have just been reduced to show face with not much useful detail. I would have resorted to name dropping but that would mean two more pages of stating names and besides Joseph T Muchichwa and Muranda specifically asked me to go slow on that, so I will…for now.
The website also gives you the locations of all the available EcoCash agents. Say you want to travel somewhere for the first time and would want to cash in/out at some point, there’s need for you to know which places to go. I know it’s hard to imagine not finding an EcoCash agent anywhere but they are not as common in rural areas as in the urban areas as indicated by the POTRAZ report. So it would really be ideal for you to check on the website first especially if travelling to the rural areas.
Apart from agents, merchants also played a big role in making EcoCash accessible. Fact that you could now pay for goods and services in a lot of different places made it more reliable thus making the platform even more popular. Even better when cash became scarce but I’m not going to talk about that right now. Oh and by the way, you can also find merchant locations on the EcoCash website too just in case you need them.
So startups, entrepreneurs, businesses etc, sure you can get a hint or two from this and apply as much of it as you can onto your next endeavour…
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11 comments
It is really not a complicated formulae. Econet is good at research and when I say research they look at how advanced technology nations are carrying out similar programmes i.e Dubai. If you want the most advanced technology hub, visit Dubai. If Telecash and One Cash are doing the same they should be able to successfully launch they products at inception. Second, the Econet brand is respected and is embedded at the back of peoples minds as reliable and best at service delivery. That gives them the upper hand
Sure…But I wonder why it’s so difficult to replicate then ? or should it even be replicated
I think its (1) Agents remuneration (2)Last-mover advantage (3) Good marketing (4) Big number of subscribers
Like the last move advantage point…. but wouldn’t you think in such a business the first mover is even at a greater advantage?
Techzim is doing good please we also need you on social media markerting
Thanks a lot for that Gondai!
Not sure I follow though on the social media marketing part…care to explain? wouldn’t wanna just jump in without fully getting what you mean
Well, before all those was 123 Cell Money, by what was CFX (then Century)at the time.
Maybe you were in nappies then 🙂
Geez how did I miss that one?! ?? Pretty sure i’m the one who was changing people’s nappies by then lol
Kkkkkkk I got to be acknowledged of my scrutiny huh. Thanks buddie.
Anyway, you can not be more right, Econet marketing department is doing great. They make their products visible for the market, and thats great, lets not mention those wo are not doing that.
Thanks for the article though, and lets support every business that is doing good and find ways to help those who are not perfoming so well. For the record, this site has an audience and thus my plea for a more comprehensive report on any subject, organization etcetera.
+1
haha of course! people like you never go unnoticed, we love such genuine scrutiny because it helps shape us… So thank you!
Lol and of course I’m by no means encouraging trolls or negative comments just for the sake of it, otherwise we got an eye for genuine concerns versus those of us who just enjoy being keyboard warriors.
And yes, your plea has been heard! 😉