Retention Marketing - BFSI

Background :

- As the investment industry matures, a centrally located head office ROLE can play a big part in influencing the end investor. This phenomenon is being supported by advances in :

a) marketing technology

b) increased understanding of consumer behavior

c) better measurement avenues.

- Retention marketing is a head office based ROLE with the aim of educating the end investor and intermediaries on the benefits of long term investing. This role will focus on retaining customers and influencing them to stay invested in open ended equity and debt schemes. For the investors who still redeem, the aim will be to win back the money.

- The person in this role will carry out communication activities to all stakeholders like investors, distributors and employees. The communication might be based on an event impacting the individual investor Or the distributor. Or it might be a mass communication based on scheme OR market specific event. The employee would also be required to change the processes which are getting in the way of investor retention.

- An employee having more than 3 years of sales experience and interested in a head office based marketing profile can apply for this role. Marketing knowledge is not a necessity but a deep interest in marketing is mandatory.

Duties and Responsibilities :

Defining retention action plan in consultation with the BIU team. It can depend on market scenario, scheme performance, distribution engagement, investor issues.

- What are the retention problem areas

- What is the cause behind attrition

- What can be done to control attrition e.g. (a) communication (b) any other intervention including process changes.

Manage the communication end :

- Define message to be communicated - education / product / market specific. The exact message.

- Define medium to reach out to the investor / distributor - SMS, Email, Physical, Phone, Social, Branch Ops, Employee, Distributors, Online portal, any other

- Create / Design / Source content for the communication

- Work on the creative aspects of the campaigns

- Fine tune & test the campaigns to ensure maximum impact.

- Coordinate with marketing, sales, compliance, operations any other department / external agencies to find appropriate means to influence the customer

- Integrate investor campaigns with channel partners and employees

Manage the Data end for cross sell and up sell :

- Think of better ways to target and segment the customer base

- Get the medium, the message and the customer segment aligned

Analysis & testing :

- Analyze marketing campaign outputs to build understanding

- Analyze failures & successes to identify what works and what does not. More importantly the cause behind the same.

- Regular testing of input parameters like (a) investor segment, (b) content design, (c) communication timing, to identify the right combination providing the maximum impact.

Key Attributes :

Capability :

- Understanding of MF sales process, distributor behavior, investor behavior

- Understanding of products and markets

- An analytical bent of mind

- Good knowledge of MS Excel

- Good grasp of English language

Soft Skills :

- Strong Interpersonal skills. Ability to work with other departments / external vendors

- Strong communication and influencing skills

- Creative thinking, Time management

Candidate Specification : Education - MBA