Have you ever asked yourself why people always stick to Safaricom Limited despite their relatively expensive products as compared to other players in the field?
Not more than once, I have come across people complaining about how expensive Safaricom is but I rarely hear them saying that they are moving out of it.
There are other players in the sector like Orange, Airtell and YU mobile who have come up with amazing products including making of free calls, but Safaricom still beats them hands down.
That begs the question; what makes Safaricom tick? What makes Safaricom a brand that always wades through the economic storms in the country? What makes Safaricom the major giant profit maker, amounting to more than 30 billion as others count losses?
The first thing that I think makes this company stands out is brand. Safaricom has a strong brand that it has built over the years. This has been made strong by their corporate colour. Ask any person what Safaricom’s corporate colour is and they will tell you without blinking an eye.
Accessibility. Safaricom has agents almost all over the country. MPESA agents are all over the place. In other words, Safaricom, through MPESA agents, goes to the people as opposed to people going looking after it. Since most Kenyan transact via mobile phones, MPESA has given them a lot of convenient. Airtell is trying through Airtell Money but it is yet to penetrate across the country. The greatest undoing of Airtell Money, despite the affordable transaction rates, is that they are not as wide spread as their counterpart. You can get in single town, out of 30 mobile money transaction agents, two are from Airtell and 28 from Safaricom. Others like YU and Orange are even worse.
Another thing is trust. People tend to trust that brand that assures them that its products are the best and always works hard to prove so. Safaricom has done this with its annual financial release and where it has always made tremendous profits. The company has also held some promotional challenges and awarding the winners though people say they have never seen the winner but the company always strives to maintain that. Others have often held their promotional challenges too but nobody always knows how they begin and how they end.
This article is not trying to assert Safaricom as the best brand but trying to show how some brands are doing well and why some other brands should learn from it. For instance, why should Safaricom be making billions in profits while others are busy making billions in terms? Why should the CEOs of these companies that are making losses consult the CEO of Safaricom on secretes of managing a company well and how to make profits?