What is Kiva? Kiva s mission is to connect people, through lending, for the sake of alleviating poverty. Kiva promotes the ideals of Dignity through partnerships, Accountability through repayment that is not expected, and Transparency through their website s open platform.
Individual Foundation Bequest Corporation US Charitable Donations Environment -Driven by Individuals & Foundations, our primary and secondary target. Source: Mintel
Important to keep learning new things Important to be well informed Important to keep trying You should seize opportunities Important to have lasting relationships Interested in other cultures US Charitable Donations Environment -Donors motivated by education and progress. Source: Mintel
Competitive Environment -Kiva has two main competitors: Ebay s Microplace and Unitus
-No return on investment, so viewed as truly altruistic -Peer-to-peer model allows lenders to hand-pick their lendees for partnership rather than benefactor relationship. Competitive Environment -Kiva has two main competitive advantages.
Recent Brand Struggles -Kiva has faced recent criticisms of their transparent brand image.
Kiva already very present in social media world.
We really do value social media in general because of a lack of budget... so we re always going to think creatively about how to get the word out there and how to bring people to our site. Chelsea Bocci, director of community marketing Social Media Usage -Great driving force for success -Tools reach a wide variety of people and organizations.
Kiva Application -create account, browse businesses, give loans, track loans -used to ask friends for donations to a large pool of funds -6,402 Fans -1,259 monthly active users Kiva Fan Page -62,146 Fans Kiva Group -1,270 Members Causes and Beacon Social Media Usage: Facebook -Kiva utilizes most of what Facebook has to offer.
-Used to post informative updates and raise awareness -TweetGrader Social Media Usage: Twitter -Great driving force for success -Tools reach a wide variety of people and organizations.
Social Media Usage: Twitter -Great driving force for success -Tools reach a wide variety of people and organizations.
Booth in First Life Aid -62,146 Fans Nonprofit Commons Project setting up a presence Strategy Undefined -15 loans secured -Kiva still trying to understand this digital world Social Media Usage: Second Life -Kiva utilizes Second Life to expand Marketing and Awareness
Discussion Forum Kiva s attempt to build discussion around the subject of microlending. News Source used for news, opportunities, announcements, and any other information that users may want to comment on Suggestion Box encourages customer feedback Social Media Usage: KivaFriends -Kiva s discussion forum -11,000 topical posts
Other Social Media Platforms: LinkedIn used to reach professional, micro-finance based community Kiva Blog used to post messages, updates, and events Kiva Alerts notifies users via email about loans of their choice Social Media Usage: Etc. -Kiva utilizes a variety of platforms for different purposes.
Raised $115,000,000 online Dispensed 162,493 loans Substantial and diverse support group Social Media Effectiveness -Kiva has been able to generate a substantial and diverse support group through social media.
Social Media Effectiveness -Cumulative loans made through Kiva as of 3/31/09 reflect extreme growth.
-Overall receptivity is positive -Business model offers substantial value to donors -Social Capital encourages WOM encourages customer feedback -Demonstrates ability to engage a variety of supporters Social Media Successes Kiva transcends various social networks.
Kiva on Second Life cannot assume that all platforms will offer the same success Kivafriends.org failure to engage a community Broadcast vs. Conversational -brand-centric, not donor-centric -donor engagement at a shallow level-- not brand loyal -focus on reach and impressions Lack of transparency Social Media Failures Kiva s biggest failure is the lack of engagement they provide with a brand-centric campaign.
Overall Assessment Effective in Short-term successful in gaining brand awareness, positive receptivity, and a diverse group of advocates Not Sustainable failure to engage and create brand loyalty prevents longterm sustainability Tactic, not Strategic once the Badge of Honor value diminishes, Kiva users will seek more from the organization
Three main recommendations for transforming current tactics into a sustainable strategy.
Recommendation 1 Reduce use of social media tools for brand-centric purposes
Implementation Use Facebook, Twitter, and Kivafriends.org to: -build an active community around their mission -encourage community action and relationship building -encourage conversation about relevant topics and issues Give community members more control over conversation Use tracking tools to find untapped conversations and communities Provide accolades to donors
Results More engaged, loyal donors Deeper community/brand connection Potential lead generation
Recommendation 2 Build organizational decision-making around community perspective
Implementation Redesign Kivafriends.org to serve its purpose Use blog to explain issues and drive to Kivafriends.org to submit input Encourage feedback on Twitter and Facebook Host or collaborate in offline events that draw community together
Results Kiva is able to leverage the collective power of their networks to help them improve their operations and gather new ideas for how to expand their model for a greater impact Donors feel a greater sense of investment, participation, and advocacy, which helps ensure donor loyalty, better ideas, and a competitive advantage
Recommendation 3 Increase transparency of organization to maintain donor trust
Implementation Twitter and Facebook updates for real-time effect Blog should address any major issues that arise Kivafriends.org can serve as a platform for discussion YouTube videos to highlight stories to show donors where their money goes Kiva should not avoid issues, but embrace conflict and encourage discussion
Results Greater buy-in from community and supporters Donor trust and loyalty
Wrap-up Necessary tools and networks are in place, but organizational shift needs to be made to the community-focus in order for Kiva to shift their tactical approach to a strategy.