UT Bank has organized a second edition of the UT Bank SME Clinic, to equip SMEs with the requisite skills in acquiring and keeping customers.
According to management of the bank, the clinic, which falls in line with their continued efforts to support and transform Small and Medium Scale Enterprises, was on the theme:
“Integrated Marketing Strategy: Acquiring and Retaining Customers”.
It was held at the Golden Tulip Hotel in Accra. The program was facilitated by business coaches from Stanford Seed, West Africa (based in Accra).
The event was widely attended by clients, invited guests and some strategic partners of the Bank. The main facilitators at the event were Noelene Hosking, Business Coach, and Kweku Fleming, Senior Facilitator and Business Coach, both from Stanford Seed.
In her opening remarks, Ms Gillian Slater, CFO of UT Bank stated that, “the SME Clinic is a health check by UT Bank to ensure that our customers are well equipped with the skills and resources to grow their businesses sustainably”.
Marketing and Innovation, Noelene Hosking talked about developing needs-based products and services that will propel business growth and strengthen customer relationships.
“To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need”, she stated.
Kweku Fleming spoke in depth about the Business Model Canvas (BMC Tool). He explained that people tend to buy things for two main reasons:
(1) the product is a solution to their need and (2) they have a feel good factor of buying the product or service.
He emphasised the need for proper segmentation derived from a detailed understanding of one’s target customer base. He also mentioned that a focus on value propositions and continuous relationship management were both critical to finding and retaining clients.
He also stated that an important tip in marketing was the identity of the customer and the market.
The emphasis of the clinic was to share strategic frameworks that will guide entrepreneurs and senior managers in developing and refining their marketing processes. UT Bank has established itself as a thought leader in the SME space and seeks to provide value-added services through events of this nature to support SMEs in developing sustainable businesses.
The first SME Clinic in this series was under the theme: Funding Your Business - Strategies, Options and Considerations.
In its bid to encourage SMEs to be forward thinkers, UT Bank continues to roll out business development assistance programmes to complement its financing and relationship management efforts. The bank has pledged to continue supporting SMEs through future clinics.
About Stanford Seed
Stanford Seed is a Stanford Graduate School of Business Initiative that brings the power of innovation, entrepreneurship and leadership to established businesses and their leaders on the ground and in their communities.
They have initiated coaching programmes in Africa with the view to expand into developing economies throughout the world, ending the cycle of poverty in developing economies.
Its mission is to strengthen and empower business leaders in developing economies to take the leadership role in alleviating poverty within the region. Visit their website
https://www.gsb.stanford.edu/ for more details.
About UT Bank
UT Bank Limited is a mid-tier Universal Bank that is focused on the SME segment. The Bank commenced business as finance house in 1997 and has evolved into a publicly listed company with shares listed and actively traded on the Ghana Stock Exchange. It was awarded Bank of the Year 2011, Most Respected
Company in 2012 and The Most Active E-zwich Bank 2014.
UT Bank has positioned itself as a leader in SME banking and seeks to change the face of banking in Ghana through fast, efficient and respectful delivery of service.
The bank is well known for providing innovative customer-oriented products with a focus on SMEs and individual customers. The Bank has 28 branches in 8 of Ghana’s 10 regions, a growing ATM network and mobile banking units.