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Financial Services
Devising and implementing a data-driven corporate banking sales strategy
09 Jun 2023
Context
  • Client is a mid-sized Indian private sector bank
  • Client wanted to grow their wholesale banking business by acquisition of new clients, containing attrition, and deepening existing relationships by leveraging internal bank data and external data sources
  • Client also wanted to streamline the lead generation process and integrate the same with a CRM platform for effective tracking and monitoring
Approach
  • Identification of opportunities: Through in-depth discussions with sales and senior management, key requirements were identified where better outputs could be enabled by data.
  • Data mining coordination: Multiple data sources from the client's internal systems and other external databases were utilized to generate the required data.
  • Query generation: A total of 10+ triggers were scoped out to meet the required business ask, and run with the help of the analytics team to generate the necessary leads.
  • Call-to-action: Each identified lead was assigned to relevant RMs/PSMs, and the sales pitch was refined to incorporate more data-backed elements.
  • Integration with CRM platform: An end-to-end automated process was designed and put in place by integrating the CRM tool with the analytics engine.
  • Lead generation and monitoring set up: The process designed envisaged recurring generating of triggers and cleaning the data based on the discussion outcomes. Processes and review cadence for status tracking, monitoring, and escalation were established to ensure the necessary actions were taken and leads were converted.
Praxis value delivered
  • Automated, recurring generation of leads: By implementing the recurring query run and re-run processes, a consistent flow of 2,000+ warm & 5,000+ cold leads was generated on a quarterly basis.
  • Data-backed sales pitch: By utilizing relevant data insights, the sales team was able to deliver more targeted and persuasive pitches, enhancing their effectiveness in converting leads into successful sales.
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