Client Situation
Our client is a leading Islamic Finance company in the UAE, with over 130,000 customers, that provides key Islamic Financing and Labour Guarantee services. The client wanted to leverage its substantial customer base to generate greater asset opportunities to increase their book size and profitability.
Cedar’s Approach
Cedar ran deep-dive analytics on the 130,000+ customers data across various parameters to derive logical segments and create a Key Account Management program
- Leveraged RFM (Recency, Frequency, Monetary) analysis to arrive at 3,000 key accounts
- Analysed these customers on additional parameters, including sector attractiveness, credit status, number of employees, vintage, and nationality of owner to develop composite score
- Developed matrix of RFM score and composite score to categorize key accounts into ‘A’, ‘B’, and ‘C’ categories
- Conducted primary interviews with key customers of the client to understand their pain points and expectations
- Created product propositions for each of the categories and marketing collateral for the program
- Developed call scripts and provided training to sales team
- Shortlisted 400 customers to begin POC exercise
- Provided guidance to sales team along with weekly monitoring to enable efficient sales
Outcome
Cedar worked with the client across 5 months to design and rollout the key account management program. The result included:
- A well-defined key account management program
- Clear insights into customer categories
- Asset book value of over AED 20mn in the first 2 months of sales effort
- Opportunity to cross sell other products