The Zenka Success Story: My Reflections on Influencer Marketing, Embracing Innovation and Local Insight

As some of you know, I served as Country Manager at Zenka Digital , one of the top licensed digital lender in Kenya, during its early days as a vibrant startup. Today, I'd like to take a moment to reflect and share insights from my tenure, highlighting how a blend of influencer marketing, a member-get-member program, and agile decision-making contributed to our achievements.

My first challenge??Convincing the team to trust my unconventional approach.?We were a lean startup, and venturing into influencer marketing, especially without agency support, felt like a risky leap. But, with the leadership's unwavering belief in "moving fast and breaking the rules," we embarked on this exciting journey.

It was a whirlwind startup adventure, and one of the most rewarding experiences was spearheading our influencer marketing campaign, which generated a staggering?3 million app downloads in less than a year!

But how did we achieve this in a resource-constrained environment without the hefty price tag of traditional PR agencies??

Breaking the PR Agency Mold:?We knew traditional PR firms wouldn't cut it. High costs and impersonal outreach wouldn't capture the authenticity we needed. So, we took a bold step:?we bypassed agencies and went directly to the influencers,?celebrities like Jalango, the Bahatis, and Mejja, Mamitto - Jeez, they were so many. I led this initiative, collaborating with key influencers and celebrities in Kenya. This strategy was challenging, as it required direct engagement with influencers rather than relying on PR firms or agencies. However, this approach significantly cut costs and allowed us to tailor our marketing strategies more effectively.

The impact was substantial – we achieved close to 3 million app downloads in less than a year. The success of this strategy was evident in the widespread recognition and engagement Zenka gained through these efforts.?

MGM Program: A Unique Customer Acquisition Strategy

The Secret Sauce: The MGM Program:?We understood influencers needed more than just a one-time endorsement fee. Enter the?MGM (Member Get Member) program: a performance-based incentive structure where influencers earned for every person they brought onto the platform and who took a loan. This innovative referral scheme incentivized influencers to bring new members to our platform. Influencers earned a commission for each referral – initially around 10-20 Kenyan shillings for sign-ups and 100 shillings when their referrals took and repaid loans. This program not only boosted our user base but also encouraged loan repayments, creating a responsible lending environment.

This created a vested interest in responsible promotion and loan repayment, a win-win for Zenka and our customers. We also ensured transparency in picking winners from the influencer campaigns and gave out attractive rewards, i.e., phones, Tablets, and cash prizes.?

Agile Decision-Making and Local Leadership

Our lean team structure at both the operational and board levels enabled swift decision-making.?Lean and Mean Decisions:?Speed was essential. Our?flat, agile team?enabled quick decision-making. Another aspect that set Zenka apart was our emphasis on local leadership. By entrusting a Kenyan with significant operational responsibilities, we ensured that our strategies were grounded in local context and understanding. This approach was instrumental in making our services more relatable and accessible to the Kenyan market.

Customer-Centric Approach: The Key to Tailored Services

Handling PR and marketing in-house provided us with invaluable insights into our customers' needs and preferences. This direct interaction enabled us to customize our campaigns effectively and deliver what I consider the cornerstone of any successful business – incredible customer service.?

These reflections are not just about Zenka's success, but about the lessons I learned as a startup leader:

• Think local:?Embrace your cultural context and leverage local expertise.
• Move fast and break things:?Agility and quick decision-making are key in the startup world.
• Incentivize partnerships:?Align your goals with your partners for mutual benefit.
• Customer-centricity is king:?Understand your customers' needs and deliver exceptional service.

Conclusion

Reflecting on these strategies and their outcomes, it's clear that embracing innovative marketing, incentivizing customer acquisition, leveraging local insights, and maintaining agility in decision-making were pivotal in Zenka's success. For startups looking to make their mark, particularly in dynamic markets like Kenya, these insights could be the blueprint for success. Emphasize local context, engage directly with your market, and be prepared to move swiftly to seize opportunities. These were the lessons from my time at Zenka, lessons that continue to resonate in the ever-evolving landscape of digital lending.