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ARE YOU BUILDING A FINTECH PRODUCT AND HOPING CUSTOMERS WILL COME LATER ?
African fintech need to use existing touch points where customers are already talking to them to gather the insights needed for successful product development and social media is a useful tool for providing this data on their customers ’ voice , says Mike Cook and Lorraine Nyawo at Mukuru .
All around the world businesses are pulling out the stops to achieve growth in what can best be described as challenging economic conditions . Africa is no exception . The continent has long been recognised for its immense potential , and as such businesses across sectors are investing heavily into the continent .
Advancements in technology make serving the unbanked and underserved populations in Africa more viable than ever before . However , that does not mean growth comes easily . It is a hyper competitive and complex environment where genuinely understanding your customer is key to growth .
Listening to customers as you build those solutions is what guarantees market adoption and success .
and view problems from our frame of reference while ignoring the customer .
This is typified in the African market where we see multiple shiny applications being dropped across markets with massive investments behind them only to be followed by a scaling down of operations as customer uptake and usage have not met expectations .
Even with this textbook understanding , there is a strong urge to take the , build it and they will come approach , because we can get caught up in our own technology
Instead , leading fintech that show consistent growth have a deep understanding of their customers ’ needs and then constantly listen to their customers . Having a deep
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