How to build a Data-Driven Agent Network in emerging markets?
Throughout the financial inclusion journey, we already had the chance to see how agent networks are the main vehicle for economic empowerment of the underserved by connecting the unbanked population to the formal financial system, through a mobile money account or an account at a financial institution.As alternative delivery channels agents are valued and trusted members in the community they work. They promote an active account usage, explain and give support about products and services, personally help customers understand operations and help to perform their first transactions too.
However, it is not only the customer onboarding process that matters. In fact, through agent network monitoring it is possible to analyze key metrics that provide essential insights and strategic actions improving your business growth. This way, it is crucial to have a tool that offers key performance indicators to build an efficient and data-driven agent network. Some of these KPI’s can be:
|Agent onboarding process||Agent network sustainability||Agent quality|
|Agent network size||Compliance||Service reliability|
|Agent performance||Agent network distribution||Agent demographics|
Papersoft’s Digital and Mobile platform allows agent managers to assemble detailed dashboards of their network’s health by selecting particular key metrics that are aligned with their strategic priorities. With this, you have access to a report where you can:
- Determine strengths and weakness in your agent network, allowing you to make strategic action plans to solve possible flaws and potentiate strengths.
- Provide a strong foundation for A/B testing compare the success of two different teams or different marketing campaigns in distinct sub-national markets, for example.
- Analyze key metrics to think through all operational decisions and then prioritize the interventions that are easiest/more urgent to implement.
A successful agent recruitment, onboarding process and agent network management leads to an economic empowerment. Adopting the right technology is key to build a rewarding partnership, leading to grow sales, reduced churn and inactivity, cost efficiencies and other positive outcomes.