PIF Report Proposal: Building Reputation for Prepaid

PIF continues to deliver a regular, positive profile for the sector and its members. However, we believe it is important to create more impact as the sector grows. At the June member meeting we talked about creating a campaign and content that can become a focal point for the sector - building awareness, understanding and respect for prepaid.

This will require some investment, but it has the potential to dramatically increase the ROI we get from PR as well as creating additional value for PIF members.

We are now assessing the creation of a Prepaid Sector Report in consultation with members:

Objectives: 

  • Build on our reputation with key influencers to show:
    • Size and scope of the sector
    • Variety of applications
    • Fastest growing areas
    • Innovation
    • How we are solving today's problems
    • How we are meeting customer's demands
  • To be a focal point for media coverage - for PIF and PIF members' own PR campaigns

Two Potential Approaches:

  1. Member Data - an audit of members and industry data to reveal growth and size of the prepaid sector, building on existing data to reveal a more granular picture, or
  2. Sector Reputation - we commission research to reveal the growing reputation and interest in prepaid, to show how prepaid is the engine behind products that delight customers and meet important needs and to examine how the sector is affected (and responding to) wider socio-political issues and changes within financial services.

Our Preferred Approach is Sector Reputation 

This is a simpler approach - it will not require members to share any data

  • It can be fully managed by PR Agency One and the PIF Public Affairs Committee, and without the need for data to be audited externally
  • We can use it to better understand the reputation of the sector and the organisations and brands within it - something that will benefit PIF members and help them grow
  • We can even look at making it cost-neutral by creating data that members may be willing to buy, such as bespoke reports focusing on their own reputation within the sector
  • What it might include:
    • Sector visibility and how its increasing
    • Which organisations' brands are best known
    • The factors driving public awareness
    • What the sector is famous for - what aspects of the industry are capturing public imagination and interest?
    • Customer satisfaction - which new products and services or brands are attracting the most attention?
    • Social impact - how are issues like financial inclusion shaping perceptions of prepaid?
    • International perspectives from major territories

What would a Sector Reputation Report give us? 

  • An authoritative insight to the sector's reputation and what is driving our current and future customers
  • Content that will help drive traffic to our website and engage members, wider stakeholders
  • Opportunities for year-round PR and media profile
  • Added value content for members - such as bespoke reports (potentially for a charge that funds the main report)
  • Data to prove the real impact of prepaid
  • The ability to help guide members on the future activity and strategy by providing insight to customer needs and perception

Next Steps

At this stage we are looking to members for acceptance in principle. The project will be discussed again at the PIF Public Affairs Committee Meeting taking place in London on 19th July. We encourage all member organisations to be represented. To confirm your attendance please contact diane.brocklebank@prepaidforum.org