Micro-Marketing for Microloans

Micro-Marketing for Microloans

March 26th, 2010 by Georgia Team in Stories from the Field

From Andy Golden in the Georgia office:

Every day we are bombarded with messages from every angle of society begging for our attention. Which ones receive it? What quality of attention is given? I find myself able to perceive much, but truly taking in very little. So how do we market microloans in a creative way as to be more than just perceived? As marketing becomes more and more difficult how can microfinance organizations remain relevant without overwhelming our potential clients and supporters?

Creative marketing. Microfinance and microlending programs are gaining national recognition and the time is now to harness that exposure and turn the interested public into life-long advocates. Here are a few examples of recent events designed to get the word out:

Emory University recently invited Muhammad Yunus to present the 2010 Goodrich C. White Lecture to a packed auditorium of students, faculty, and community members. Gary Hauk, deputy to the president at Emory, said that the committee had zeroed in on Yunus because his work and compelling message are likely to appeal to a broad spectrum of the University community. Marketing for this event was successful due to the dual recognition of Emory as a leading educational institution as well as Dr. Yunus as a pioneer in microfinance.

MicroBrews for MicroLoans was an event that took place at the Atlanta Brewing Company to raise awareness of microfinance and microdevelopment. The night was filled with thinking and collaboration about the industry as well as enjoyment of microbrews from around the Atlanta area. No better way to ponder the sustainability of microfinance than with an Atlantan microbrew in one hand.

Lastly, small business lending has received some news attention as well. In a recent interview with Fox Business, Jim Koch, Founder of Boston Beer Company, explains his interest in helping entrepreneurs in the Boston area receive microloans to start businesses through ACCION USA. He started his company small and understands how hard it can be in the first years to have people trust you with small loans. His partnership with ACCION USA is one way he is able to steer entrepreneurs towards possible funds to get their businesses started.

Each of these strategies targets different segments of the population and provides awareness of the industry, as well as tangible ways for people to get involved in their communities. It is a tough task, but we at ACCION USA are committed to providing economic opportunity to communities in need. Won’t you join us?

Spam Your Fam

Spam your Fam and Win $1 Million for Microentrepreneurs

April 14th, 2010 by jspaziano in Uncategorized

That’s right, I said it. “Spam your Fam.” Send some emails to your friends and family members who rely on Sam’s Club for their bulk household items and ask that they support a cause you believe in (That would be ACCION USA – we’re in the running for a $1 million grant in Giving Made Simple, hosted by Sam’s Club). Here’s an example of what you could send:

Dear Mom, Dad, Uncle, Friend, Etc,

Maybe you’ve heard me talk about microfinance, and maybe you’ve thought “I wish there was something I could do! Sounds like a worthy cause.” Well now there’s something you can do. It only takes 10 seconds for you to help ACCION USA, a leading US microlender, win $1 million! Just go online and vote for ACCION USA in the Sam’s Club “Giving Made Simple” contest. The one catch – you have to be a Sam’s Club member to vote.

If you’re not a Sam’s Club member, don’t fret! Pass the word along to your friends and family members who are. You can also donate your Facebook profile picture toward the cause.

Oh, I didn’t mention that before? Yes, you can donate your Facebook picture and help spread the word about ACCION USA’s microlending programs as well as the Sam’s Club $1 MM contest.

Every vote counts! The race is tight! Do your part and spread the word today.

Academics and Poverty?

The word Microfinance comes out of my mouth sounding academic sometimes. I throw it in discussions with “social justice, fair trade, and gender equality.” How can a topic so academic-sounding be put into everyday practice?

I have struggled for a while with that question and at times left it on the back burner, and then come back to it at a later date. Poverty is a fact of the world as we know it and exists because of institutions we have put into place, ironically. Dr. Muhammad Yunus, Founder of the Grameen Bank and Nobel Peace Prize winner, has devoted his life to poverty-alleviation for more than four decades. Recently, I had a chance to hear Dr. Yunus speak to a crowded sanctuary at Emory’s campus in Atlanta, GA. Filled with brilliant practicality, he spoke of initiatives undertaken by his Grameen Bank to counter the affects of poverty in Bangladesh and the world.

From global collaborations with Dannon Yogurt to make a nutrient-packed meal for malnourished children, to the drawing board of Adidas to create a shoe that could be sold for less than $1, Dr. Yunus described Grameen’s efforts to engage powerful companies in what he called “Social business.” Social business initiatives are run for the purpose of eliminating a social need. Malnutrition and the need for shoes can be addressed by social businesses due to the selfless nature of the initiatives. Earning a profit is not in the agenda, rather solving a social problem.

In the United States, Grameen Bank of America has a branch in Queens, NY as well as Omaha, NE and plans are revolving around a possible San Francisco location. “The need is everywhere,” exclaimed Dr. Yunus, referencing the need for accessible capital and resources in so many places around the world where bigger banks are not able to meet the needs of “credit unworthy” clients. ACCION USA stands in that gap between entrepreneurs and big banks to offer Start-Up and existing business loans, as well as credit-building resources and tools to empower business men and women to achieve their dreams.

You can debate the academic side of microfinance all you’d like, but just be sure to allow microfinance to affect you practically today.