Impacts of Marketing Department in the Sacco

Impacts of Marketing Department in the Sacco
By Caroline Machira
In the current global business environment, it is impossible to ignore the stiff competition that arise from many businesses; large, small, global and local in all spectrum. It is important to note that competition has reached a point where only the difference in most cases is not a product or a service feature rather it is how well it is communicated to the consumers
A Sacco’s success is dependent on its ability to beat this completion, attract and retain its members which I achieved by setting up an effective marketing entity within the organization. According to a report released by Kenya Union of Savings and Credit Cooperatives (KUSSCO) Ltd, there are over 14,000 registered cooperatives 5000 of them being Sacco. This is a prove enough of the high level of completion in this industry.
The Sacco’s marketing team is its driving force. Just as a car cannot run without fuel source, the sane way an individual society cannot operate without a well-established and vigilant marketing team.
The marketers contribute to the success of a Sacco in terms of financial growth, membership growth, sale increase, as communication catalyst, growth of new products among others.
Brand Promotion
Every now and then a society may introduce a new product or service. It is the mandate of the marketing team to see to it that these new products get to the potential customers and the already acquired members get to know and utilize them. Through appropriate and effective media platforms such as Television, radio, magazines and social media, marketers send the brand’s message loud and clear. In return, the brand awareness increase as well as customer traffic thus sales and profit.
Creating and promoting a positive image of a Sacco
A good image can be a primary driver why a potential member chooses to join one Sacco over thousands of them. The marketers connect the Sacco and the public. They communicate trust. When a customer feels satisfied with the said particular society it simplify their choices. They do this trough ideal strategies such as public relation (PR) and Cooperate Social Responsibility (CSR).
Customer Relation
The Sacco’s marketing team ensures that their there is strong ongoing relationship between the Sacco and its customers. They apply a customer oriented mindset and trough particular marketing activities such as personal promotion, tries to make initial contact with customers and move them through various stages of the relationship.
Marketing is about more than just creating a strategy and carrying it out, it involve responding to customers’ needs and wants. It calls for paying attention to what is taking place in the market and identifying the problem that the members might have.
A well maintained customer relationship creates a good portfolio for customer testimonials and recommendations hence increase in sales and Sacco membership.
It promote Sacco’s informed decision making
The Sacco management uses information and analysis obtained through marketing as input for strategic management plan and decision making. The marketers identify customer trends, examine their potential and access current situation to gain better understanding of the market.
Marketing team ensures customer engagement
The Sacco’s marketing team creates fresh content to ensure that the members are furnished with relevant information about a product, a service or the Sacco activities. Through engaging platforms like Facebook and YouTube, they can inform the members what they do not know.
Marketing department helps a Sacco beat rivals
As it was mentioned previously in this article, the competition an individual Sacco currently face is alarming. In addition, other Sacco and financial institutions are actively marketing their products. Therefore, only way to beat this competition is by having a dedicated and aggressive marketing team.
A great team keep track of their competitor and work to differentiate the Sacco own brand. They may also learn from their competitors the strategies that work well and use them for their marketing purpose.
Therefore, a marketing team is a critical part of the Sacco structure because it is the team that brings in members, retains them, and helps the society grow and achieve the outlined vission and goals. Without robust marketing efforts, potential customers may find it difficult to learn about the products or services offered by the Sacco.