The bank partnered with Accenture, which began by analyzing the effectiveness of the bank's existing sales and marketing efforts. Then, in a proof-of-concept phase, Accenture conducted three key initiatives:
- Analyzing the bank's customer data (using the Accenture IDM lab in Kronberg, Germany) in order to identify customers with the highest probability of buying.
- Developing a new campaign platform to enable the bank to deliver leads to front-line employees for the first time, and to manage campaigns more effectively.
- Coaching regional sales directors, with a team of five Accenture managers who oversaw the campaign-platform implementation in the bank's various regions.
This initial phase quickly produced $19 million in additional revenues for the bank—but there was more to come. Accenture also developed a master transformation plan for implementing a new sales and marketing model. Based on the success of the proof-of-concept phase, Accenture has been working with the bank to implement that plan, with efforts focusing on five areas:
- Implementing new strategic-segmentation and customer-oriented marketing methods.
- Organizing the sales force to align with strategic customer segments and orienting marketing and the product development department around those segments.
- Developing a new reporting system, including pipeline management for the corporate level and a new incentive system.
- Creating a sales culture, with the development of change management measures, the coaching of regional and branch directors and the definition of a new job-advancement system.
- Standardizing processes, developing an end-to-end integrated POS front-end, and optimizing and automating sales and administration processes.