If the microenterprise field is to increase its scale and define its role for the future, it must begin with a stronger and more detailed understanding of the market – in terms of both supply and demand. Furthermore, programs must also expand and refine their efforts to market their services and reach out to new clients. Microenterprise programs are sometimes surprised to find that despite their efforts to advertise and promote their programs, they are one of the best-kept secrets in town.

Thus, increasingly the most effective and fastest-growing microenterprise programs are dedicating resources to market research and marketing. The following resources provide useful information and tools for organizations seeking to engage in market research, and improve or expand their marketing and outreach efforts:

Market Research Resources

• Market Research for Microlenders. This FIELD Webinar featured findings from market research on trends in for-profit lending to microenterprises conducted by national researchers and microenterprise practitioners. In addition, two microlenders - ACCION New York and the Wisconsin Women's Business Initiative Corporation - describe how they are using market research to shape their lending products and practices.
• Supply-Side Scan of Microenterprise Financing: Findings and Recommendations. This study commissioned by FIELD takes a look at trends in lending to microenterprises by for-profit lenders, including banks, finance companies and credit card companies. Based on secondary data as well as interviews with key players in the for-profit financial sector, the study reveals that for-profit lenders are increasingly using tools, such as credit scoring and credit cards, to reach “down market” toward clients traditionally served by nonprofit microenterprise lenders. It also suggests directions that the nonprofit microcredit industry can consider in order to respond strategically to these trends. (2005, 38 pages, authored by Patty Grossman, Ellen Chen and Paige Chapel.)
• Understanding National Lending Trends and Local Markets: The Role of Market Research. Issue 18 of FIELD's forum series presents the lessons from five FIELD-funded market research efforts. In these projects, five microlenders explored the extent to which national trends in for-profit lending to microentrepreneurs were affecting their local markets. The research techniques used included customer surveys, focus groups with bankers and customers, Web-based research and interviews with local bankers. Also available here are copies of market research tools used in these efforts.
• Market Research for Microenterprise Programs. This piece provides a brief  overview of the purposes of market research, as well as techniques and tools that can be adapted and used by microenterprise programs. The material is excerpted from the 103-page FIELD Best Practice Guide: Volume 1, Entering the Relationship: Finding and Assessing Microenterprise Training Clients.  (August 2002, 37-pages, authored by Joyce A. Klein.) 
• A Guide to Strategic Marketing Research for Microenterprise Development in the United States. This ACCION publication provides an excellent overview of market research, with practical examples of how various approaches and techniques were applied by members of the ACCION USA Network. The publication also provides detailed advice on how programs can create and use internal data collection systems that yield ongoing market information. (December 2001, 78 pages, authored by Sarah Abbe, ACCION International; William Burrus, ACCION USA; and Anne Haines Yatskowitz, ACCION New Mexico.)
• Market Intelligence:  Making Market Research Work for Microfinance.  This edition of ACCION International’s InSight series describes how microfinance institutions (MFIs) can use market intelligence – the process of gathering and using market information – as a tool to respond to growing competition. While based on the experience of large-scale MFIs in developing nations, much of the information will hold true for U.S. microlenders as private lenders increase their levels of microlending. This piece details the phases in a market intelligence process, defines key techniques and terms, provides case examples from ACCION affiliates, and provides guidance on determining how to use and work with external market research expertise. (October 2003, 18 pages, authored by Monica Brand).
• Microenterprise Development in the United States: Closing the Gap.  In this article for the Journal of Microfinance, William Burrus of ACCION USA presents the results of an ACCION study to estimate the number of microentrepreneurs in the United States. The study looked closely at the number of entrepreneurs who had never received a bank loan for their business, and elicited information about their demand for credit. The paper describes the results of this research, and some of the changes ACCION made throughout its network to address the findings. (Spring 2002, 18 pages, authored by William Burrus.)
• How To Do A CDFI Market Analysis. This two-page tip sheet from the National Community Capital Association provides an overview of the steps involved in conducting market research around specific lending products and needs. The sheet provides suggestions on how to approach both quantitative and qualitative data, as well as the analysis process. (Undated, 2 pages, authored by National Community Capital Association.)

Resources on Marketing and Outreach

• Marketing and Outreach:  Best Practice Lessons from FIELD. This excerpt from the first volume in the FIELD Best Practice Guide series, Entering the Relationship: Finding and Assessing Microenterprise Training Clients, provides an overview of the marketing process that covers:
  • techniques for marketing microenterprise programs,
  • how to manage the marketing process, based on lessons learned from marketing efforts, and
  • sample tools that can be used in implementing and evaluating program marketing efforts. (August 2002, 21-pages, authored by Joyce A. Klein.) 
• FIELD forum Issue 13: Marketing Strategies for Scale-Up: FIELD's Grantees Share Their Experiences.  This publication explores the market research and marketing strategies employed by FIELD grantees seeking to expand their reach and serve increasing numbers of emerging entrepreneurs with business development and financial services. The publication also summarizes the key lessons from these efforts for microenterprise programs seeking to undertake successful marketing efforts. (March 2002, 14 pages, authored by Elaine L. Edgcomb.)
• A Multi-Market Public Relations and Media Campaign. This excerpt from FIELD’s publication Scaling up Microenterprise Services, presents a case study of ACCION Texas’ effort to design and test a multimarket public relations and media campaign designed to market their products and services to a wider audience. The case discusses the outreach efforts that were used and ACCION Texas’ evaluation of whether the effort was a cost-effective means to generate additional loan volume.  (May 2002, 7 pages, authored by Janie Barrera.) 

Have additional resources to suggest? Email us at fieldus@aspeninstitute.org.