Savings Max Account Customer Profiler
(This information refers to the mail sent by Anindya Mitra dated 23rd August, 2008)
 
Objective:
  • We have 3 product variants in the economic segment - SB Regular (5k AQB), SB Plus (10K AQB) & SBMax (25K AQB)- .Target segment differentiation for these 3 variants is based on the customer's financial capability & his needs unlike deomographic segmentation. Hence there are cases where the sourcing channels are confused with which product to be offered to which customer profile
  • Incorrect customer profiling affects the sourcing quality & increase depletion & closures
 
In order to aid the sourcing channels to gauge the profile of the customer & offer the apt savings variant rather than force fitting the customer with high end product there was a need felt to design a "Customer Profiler" which profiles the customer & basis his needs answers which SB variant to be sold to him
 
Ideal SBMax Customer Profile:
  • In order to find out the profile of a SBMax customer, we analysed....
  • SBMax sourcing of 6 months of the last financial year, with accounts maintaining > 75K AQB in QTR 2. This helped us in arriving at a profile of customers who built balances
  • An indicative profile of a SBMax customer was arrived at - basis the AML details captured on the AOF for the above set of accounts
 
"Ideal SBMax Customer Profile"

A. What is the Ideal SBMax customer's Occupation?
B. What is the Ideal SBMax customer's Gross Income?
>= Rs. 5 Lakhs

C. What is the Ideal SBMax customer's Residence Type?
Owned

D. What is the Ideal SBMax customer's Age?
>= 30 yrs
 
Basis the above Ideal profile, we have designed the "Savings Account Customer Profiler" to be filled by the customer. Depending on the customer's inputs the sourcing channel will find out the apt product to be sold to the customer
What is in it for the Customer ?

The customer would be enticed to fill in the Profiler as it will help us to gauge his needs & offer him such a savings account which best suits his needs & requirements!

How to use the "Savings Account Customer Profiler

"4 Step therapy for Feature based & Need based selling"

 
Step I Step II
  Click here to View Savings Account Customer Profile
 
Step III Step IV
Click here to View Savings Account Customer Profile  
 
There are 2 sections in the Profiler
      Section I = Income details
      Section II = Occupation/Feature based questions
    Customer needs to tick Yes / No for the questions
What is in it for Sourcing channel?

We had piloted the Profiler at selected branches in Delhi, Mumbai, Cochin & Chandigarh. The feedback was positive & encouraging. Below are the benefits of using the Savings Account Customer Profiler communicated to us by these branches
 
Lets start using the Profiler today!!!!
 
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