Value innovation : When innovation is not rewarding. (Moja Love and FNB case studies)

In the banking sector I find FNB to be one innovative organization, and in the media (TV) I find MojaLove , fairly new as it is, to be one of the next sought after channel in South Africa for its authentic content.

I am concerned about few things that I think may ruin this chance for them. And this is the same concern I have towards incredible creators I came across in my entrepreneurial journey. There are lots of great creators even on these social media streets that I’m observing, however the same thing that’s bound to shift FNB and MojaLove position is bound to do the same to them.

When we talk about 1 stop solution shops, FNB should be part of the list in the banking space. From personal finance solutions to business banking, they keep on disrupting.

If there’s anything they’re excellent in, is packaging a value proposition, and configuring solutions with the aim of upselling to their clients. They can spot business opportunities and package them into solutions. However I think they need help when it comes to communicating their value and seeing life from the eyes of their customers.

FNB is ridiculously expensive. I opened both my personal and business accounts with them, and ditched them.

If they are to win, they need to find a way to be a cost leader so that their pricing could be affordable. Capitec Bank wins because they know how to deliver value at a low cost, hence their fees are inexpensive and more people gravitate towards them. 
Wait for the final stage of the rolling out the business banking for the bank, it will continue to win.

FNB is very smart, however it needs to brainstorm on how they can penetrate the market. There is a small thing in short; they have a good value proposition and their value proposition is relevant – the issue is their pricing structure. Premium pricing is part of pricing structure, they can command that but for their existing client base, if they’re to upsell they need to control their costs. Or should mainly focus on the elites.

Getting into their SMEs Nanking solutions; their value offering is good and relevant but the reason for low traction is their pricing.

The most authentic content creators of all time. When we talk about reporting from the streets and telling OUR story, we think of MojaLove. Their reality shows, are real. No filters. So relatable. And they know how to trigger conversations.

My only concern with them is excitement. As much as controversy sells in the media space, controversy can make you lose your footing and reputation.

I find their content to be getting out of control. Their recent shows, as much as they have an element of entertainment in them, they may lead to their closure. (I feel the petitions for closure coming soon)…/16382-moja-love-is-destroyi…

I hope this helps business owners and executives that drive innovation in their businesses – to not leave value behind when they innovate.

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