Communicating product innovation to clients in the microfinance sector the case of nationwide microfinance limited, Ghana

Abstract

This research examined how innovated products are communicated to customers in the microfinance sector with Nationwide Microfinance Limited under study. The study aimed at identifying the various communication channels used by Nationwide Microfinance Limited and clients perspectives about the channels used. The researcher employed a qualitative in-depth interviews and a purposive sampling size to collect data from two respondents from Nationwide Microfinance Limited and twelve clients that formed the subject of the study. The findings gathered from the research were that Nationwide Microfinance Limited use print media, telephone, face-to-face as well as new media and communication technology to communicate their products to their clients. The study also revealed that Nationwide Microfinance Limited use the channels mentioned above to disseminate timely information, ensure efficiency of communication, create rapport with stakeholders and improve the image of the organisation. Clients who were also interviewed expressed satisfaction with the channels of communication used to communicate with them but also called on Nationwide Microfinance Limited to prioritise integrated communication which combines both traditional and new media and also advocated a more improved communication with the clients.