Otkritie Bank increases its banking product sales by 20% with the help of geo-analytics

Objective

To increase sales through the bank's corporate sales channel and improve the efficiency of the department's staff

Context

Otkritie Bank's Corporate Sales Department deals with B2B sales of financial services for Russian companies in the regions where the bank operates. At the time of solution implementation, business processes have been well established, so the challenge is to find additional potential for sales growth.

Solution

After analysing current indicators and operational processes, the Otkritie Bank team and Marketing Logic transferred the management of field sales employees' work to the MLead platform. GeoCRM combines the familiar functions of process management and organisation, as well as geo-analytics modules. It is these modules that help to realise the potential that is not used in a conventional approach.

The first function cluster of the geo-module analyses customer profiles compares them to a "perfect" portrait for the bank, and gives recommendations based on geographical proximity to a particular bank office or a representative's address. The MLead GeoCRM database already contains data on tens of thousands of legal entities, which is expanded and updated daily. The system offers its own client ranking and the order of calls and meetings depending on various scenarios: "most convenient", "the closest geographically", "the most profitable", and "the company's scale". Managers can determine the priority on their own because, in the end, this is reflected in their performance.

The second function cluster of the geo-module is directly related to an employee's fieldwork: the system logs calls and appointments and suggests optimal routes from one address to another so that the number of productive appointments is maximised. The system does not track an employee's route on the level of a building's exact address but notifies them if there is a critical deviation from the route or a change in the appointment's address. The deviation value is configurable, and the customer can set their own value. During or immediately after an appointment, it takes a few seconds for the manager to use a tablet or phone to send a few commands to the system, which, in this way, keeps track of the workflow.

Analysis of the data collected and processed by MLead GeoCRM brings the management team's attention to sales dynamics, highlights underperformers and leaders, and makes it possible to promptly see in each case which components are driving leadership, sales volume growth or customer profile changes. Otkritie Bank shared important observations in the official press release, which is also published on our website.

"The mobile app was developed to give a sales employee a simple and straightforward tool to work with the customer. All available tools and marketing materials are now available online at their fingertips. To improve efficiency, an algorithm for automatic tasking was developed to increase the number and quality of client meetings. Sales managers now have access to in-depth analytics that enable them to provide a qualitative assessment of results, identify deviations in the performance of the approved sales model and analyse the customer journey in detail. All of this combined has led to an excellent result of a 20% increase in sales, and also the launch of the trackers has improved the overall efficiency of the team by tracking the geolocation of underperforming employees. The new system has also reduced administration efforts through automated and in-depth analytics that are now available to executives and managers.” Dmitry Krishtopa, Senior Vice President and Corporate Sales Director, Otkritie Bank

Result

As a result of implementing Marketing Logic's comprehensive MLead solution, Otkritie Bank optimised the model for corporate sales field employees' work and increased sales by 20% over the time the system was in use.