An-Nisa’ Bank Limited (ANBL) Marketing Plan

8/10/2019 An-Nisa Bank Limited (ANBL) Marketing Plan

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INCEIF

The Global University of

Islamic Finance

MIFP

Financial Services

Marketing

Assignment Solution

By: Hisham A. Hussein (1400218)

Under Supervision of:

Pn. Kartini Yusoff


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Table of Contents

1.0 Marketing Vision 2

1.1 Goals ................................................................................................................................ 2

1.2 Purpose ............................................................................................................................ 2

1.3 Picture .............................................................................................................................. 2

2.0 Ideal Customer .................................................................................................................... 3

2.1 Market Description ........................................................................................................... 3

3.0 Remarkable Difference ........................................................................................................ 3

4.0 Core Strategy ....................................................................................................................... 4

4.1 Core Branding Elements .................................................................................................. 4

5.0 Product/Service Innovation .................................................................................................. 4

5.1 Price Rationale ................................................................................................................. 6

6.0 Marketing Materials .............................................................................................................. 6

7.0 Web Plan ............................................................................................................................. 6

7.1 Social Media Plan............................................................................................................. 6

8.0 Lead Generation Plan .......................................................................................................... 6

8.1 Advertising ....................................................................................................................... 6

8.2 Referrals ........................................................................................................................... 69.0 Lead Conversion Plan .......................................................................................................... 7

10.0 Service Experience ............................................................................................................ 7

10.1 Loyalty Product/Service Offerings .................................................................................. 7

10.2 Customer Retention ....................................................................................................... 7

11.0 Critical Numbers ................................................................................................................ 8

11.1 Sales Forecast ............................................................................................................... 8

Table: Sales Forecast ......................................................................................................... 9

Chart: Sales Monthly ........................................................................................................ 10

Chart: Sales by Year ......................................................................................................... 10


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1.0 Marketing Vision

We're here to help people, especially Muslim business women, achieve their goals in life and

succeed in their endeavors and new businesses. We love what we do, we're good at it, and our

customers are happy. Our marketing plan is designed to take our business to the next level, by

getting every single agent and/or bank representative involved in generating and converting

leads, understanding the numbers behind our success, and implementing a new referra

mechanism that will boost our revenue.

1.1 Goals

Business Goals:

Increase sales to $5 million by year's end

Increase repeat customers 30%

Strategic Goals:

Establishing a reputation as one of the top ten experts in the industry

Eliminating dissatisfaction among customers

Tactical Goals:

Promote to head of print marketing

Devote 1 to 1.5 hours each day for personal interaction with customers

Cross-promotions of our products with key expert partners

1.2 Purpose

Ultimately, our business exists to help people get a sense of control over their daily life. In the

process of financing their projects, we help them sort out their real priorities and let go of things

and feelings which have been holding them back in their lives.

1.3 Picture

When a potential client makes an appointment, she has already heard glowing reviews of our

services from friends or colleagues, and is eager to see why they were so positive. At our first


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meeting in our bank, she meets a friendly, sympathetic, and practical bank officer who respects

her ambitions to make her business succeed, and guides her through the process of stepping

back and seeing it objectively.

Throughout the financing period, the client can call her officer whenever she gets "stuck," and

daily email suggestions keep her moving through the process. As she pays her periodical

payments, she starts feeling more free, more relaxed, more self-confident.

2.0 Ideal Customer

We are looking for clients who want a long-term relationship with our bank. A bank they can

trust and depend on. We know we have an ideal client when they join our An-Nisa Club which is

an annual service agreement that gives them discounts on service, and priority scheduling

When they sign up for the An-Nisa Club they are "partnering" with us and saying that they trust

us and value quality service. They desire peace of mind and a company that guarantees

satisfaction in the service rendered.

2.1 Market Description

Demographics: Gender: Females, Age: 30-60+, Income: $70,000+/year, Occupation

Professional

Psychographics: Our ideal client is a conservative Muslim, busy, professional and family

woman. They value Shariah-compliant high quality financial products, prompt service that fits in

their busy schedule. They want the job done right - price is not their motivating factor. They want

the pricing to be easy to understand. They fear violating the rules of Islam by involving in

interest-based transactions.

Behaviors: They are active with their family and community.

3.0 Remarkable Difference

ANBLs is the only bank in the industry that focuses on the unique nook market i.e. the female

group segment comprising of entrepreneurs, professionals, fixed income earners, self-employed

like small traders; ANBL has a team of employees that have expertise in risk


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management, product development, marketing and sales, and importantly they are

excellent in customer service that make ANBL being awarded as the top customer

service financial provider in the industry for the past three consecutive years based.

4.0 Core Strategy

Results that we are looking for include:

Signing up more An-Nisa Club members.

Reducing our call backs.

Receiving great feedback and satisfaction from clients when we make follow-up phone calls

after the financing period has been completed.

4.1 Core Branding Elements

Using professional photos of our bank representatives in our marketing allows us to give the

prospect the idea that they are friendly people. Clients like to see who they will be dealing with

The tag line To nurture women potentials through smart partnering is on most of all of our

invoices, name badges, stationery, business cards, etc.

5.0 Product/Service Innovation

New Product Features Remark

Contract

financing based

on Istisna

principle

Financing amount:

Min. $10,000

Max. $100,000

Tenor:

6 months to 3 years, depending on

the contract

Rate:

4% per annum flat rate

Payment:

- Deduction from the contract

proceeds

Strictly to contract or local

indent awarded by

government, semi

government bodies and

recognized agencies.

To be eligible, the

business shall be wholly

owned by female or more

than 50% equity possessed

by female/s.


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- Monthly profit to be served

without fails

Security:

1) Assignment of contract

2) Guarantee (if applicable)

Takaful coverage:- General Takaful for the project

undertaken

- Group Life Takaful

Pro-Cashline

under the

principle of

Commodity

Murabahah(Tawarruq)

Drawing limit:

Min. $10,000

Max. $50,000

Tenor:

3 years, subject to yearly review.

Capping Rate: 8% per annum

Effective Rate: 2% above BFR per

annum.

Payment:

- On demand or upon expiry

- Monthly profit to be served on

the 1stday of the following

month

Security:

On clean basis

Takaful Coverage:

Group Life Takaful

Offered to professionals

only

Quick-Cap

Based on

Mudharabah

principle

Financing amount:

Min. $5,000

Max. $30,000

Tenor:

Priority given to single

parent


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Up to 3 years

Profit Sharing Ratio:

Rabb Mal / Capital provider: 60%

Mudharib / Entrepreneur : 40%

Payment:

Upon completion of the business

project / event; or upon annual

closing of account

Security:

1) On clean basis

2) Guarantee (if applicable)

Takaful coverage:

Group Life Takaful

5.1 Price Rationale

high margin, priced for traditional customers, competitively priced against competition for the

quality, discounts offered when pricing three concurrent contracts at once, progress payments

offered, discount offered for prompt payments.

6.0 Marketing Materials

Ways to reach our target market - things we can improve: Our website and online marketing,

Direct mail, Newspaper, Cable TV, Our showroom.

We should be able to collect dozens of testimonials - on our website we have some written

testimonials as well as audio testimonials. These audio testimonials are pretty powerful and in

the future we need to collect some video testimonials for our website.


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7.0 Web Plan

Our website drives people to submit their enquiries online or pick up the phone to call us. All of

our Marketing Kit information is tied into our website to give visitors the ability to know, like and

trust us - and in turn - call us for service.

7.1 Social Media Plan

We will employ several blogs as our primary new media tools. We will also post podcast-style

interviews with our best customers on a monthly basis and look to interview design and

manufacturing and other home type experts such as entertainment, chef and even audio and

technology experts.

8.0 Lead Generation Plan

Direct Mail postcards that offer a free report and discount are sent to local business women who

have never used us before. We have a small "branding" ad in the local newspaper that runs

weekly to keep our name in front of prospects and clients. We have a small print Yellow Page

campaign. We have several paths and ways people can find us online and track these results

closely. We send out a printed Company Newsletter two times a year to our clients.

8.2 Referrals

A client group we want to generate more referrals from are small businesses owners - they have

relationships with other people who are ambitious to be business owners themselves. When we

receive a referral from a business owner we always follow-up with a letter in the mail to the client

that referred someone. This letter thanks them for the referral and also gives them a nice

discount off their next service call with us.

9.0 Lead Conversion Plan

We have a follow-up system installed - we call it our "Marketing Machine". On each service cal

our bank officer fills out a Marketing Sheet. It asks the technician to record the following

information:

1. Did you sell an An-Nisa Club membership? If not, why not.


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2. Did you tell the customer about the other services and divisions we have?

3. Did you offer to talk to the customer about any add-on sales or leave any product literature?

What was their response? What is their interest level?

4. Anything else we should record about this customer?

These Marketing Sheets are brought back to our marketing person who enters them into our

"Marketing Machine". Depending on the data that was recorded, the customer receives a follow-

up e-mail on a specific product/service, gets put on a long-term "stay-in-touch" program or a

variety of other options.

10.0 Service Experience

Client Appreciation Night / Open House- new products on display, big food spread, massagetherapist doing chair massages, different specials and offers. We've done this a couple times

and clients have really appreciated them.

An-Nisa Club Membersreceive discounts, specials and member-only offers.

10.1 Loyalty Product/Service Offerings

We will offer each customer a survey after each project completes.

We will send hand-written Thank You notes to every prospect that comes to an initial meeting.

10.2 Customer Retention

Providing extraordinary Customer Service:

Key facets include: dedication to customer satisfaction by every employee; providing

immediate response; no buck passing; going above and beyond the call of duty; consistent on-time delivery; delivering what you promise before AND after the sale; a zero-defects and error-

free-delivery process and recruiting outstanding people to deliver your customer service.

Product or service integrity


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Long-term success and customer retention belongs to those who do not take ethical shortcuts.

There must always be total consistency between what we say and do and what our customers

experience. The design, build quality, reliability and serviceability of our product or service mus

be of the standard our customers want, need and expect. Service integrity is also

demonstrated by the way we handle the small things, as well as the large. Customers will be

attracted to us if we are open and honest with them, care for them, take a genuine interest inthem, dont let them down and practice what we preach and they will avoid us if we dont.

Other customer retention strategies include:

Blogs, CRM systems, loyalty programs, magic moments, overcome buyers remorse, persona

touches, premiums and gifts, questionnaires and surveys, regular reviews, social media

welcome book.

11.0 Critical Numbers

Our sales will be tracked using the same system that tracks our website visits and contact

requests. Since we tend to have a limited customer base with large buy-ins, the individua

service representatives will be responsible for reporting on transactions per customer and

Platinum versus standard solution ratios.

11.1 Sales Forecast

Sales forecast is based on the following assumptions:

1- Quick cap Mudharabah total profit will be 30% of the total capital provided (based on capita

budgeting analysis, namely NPV calculation). The direct unit cost for the bank is assumed to

be zero.

2- Contract financing based on Istisna: cost of capital is assumed to be 2.0%

3- We assumed a 10% increase in sales in 2016, and another 10% increase in 2017.

Table: Sales Forecast

Sales Forecast

2015 2016 2017

Unit Sales


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Pro-Cashline under Murabahah 2,380 2,618 2,880

Quick-cap on Mudharabah 1,160 1,276 1,404

Contract Financing based on Istisna 227 250 275

Total Unit Sales 3,767 4,144 4,558

Unit Prices 2015 2016 2017

Pro-Cashline under Murabahah $32,100.00 $32,100.00 $32,100.00

Quick-cap on Mudharabah $2,100.00 $2,100.00 $2,100.00

Contract Financing based on Istisna $57,200.00 $57,200.00 $57,200.00

Sales

Pro-Cashline under Murabahah $76,398,000 $84,037,800 $92,441,580

Quick-cap on Mudharabah $2,436,000 $2,679,600 $2,947,560

Contract Financing based on Istisna $12,984,400 $14,282,840 $15,711,124

Total Sales $91,818,400 $101,000,240 $111,100,264

Direct Unit Costs 2015 2016 2017

Pro-Cashline under Murabahah $22,929.03 $22,929.03 $22,929.03

Quick-cap on Mudharabah $0.00 $0.00 $0.00

Contract Financing based on Istisna $28,600.00 $28,600.00 $28,600.00

Direct Cost of Sales

Pro-Cashline under Murabahah $54,571,091 $60,028,201 $66,031,021

Quick-cap on Mudharabah $0 $0 $0

Contract Financing based on Istisna $6,492,200 $7,141,420 $7,855,562

Subtotal Direct Cost of Sales $61,063,291 $67,169,621 $73,886,583


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Chart: Sales Monthly

Chart: Sales by Year

An-Nisa’ Bank Limited (ANBL) Marketing Plan

Documents

Transcript of An-Nisa’ Bank Limited (ANBL) Marketing Plan