Post on 14-Apr-2017
transcript
alrayanbank.co.uk Banking you can believe in
Tim Sinclair, Senior Head of Marketing & Retail Sales
Developing successful new brands for new markets
alrayanbank.co.uk Banking you can believe in
Who are Al Rayan Bank and what is Islamic finance?
alrayanbank.co.uk Banking you can believe in
Leapfrogging the competition
alrayanbank.co.uk Banking you can believe in
Strategy based on ‘Commercial Framework’
alrayanbank.co.uk Banking you can believe in
Developing an accurate market insight
alrayanbank.co.uk Banking you can believe in
G Consolidating Assets
L Platinum Pensions
F Accumulated Wealth
H Balancing Budgets
I Stretched Finances
K Seasoned Economy
J Established Reserves
N Traditional Thrift
M Sunset Security
D Growing Rewards
E Family Interest
A Bright Futures
B Single Endeavours
C Young Essentials
Experian’s Financial Strategy Segment Model
alrayanbank.co.uk Banking you can believe in
With a ‘Muslim’ overlay
alrayanbank.co.uk Banking you can believe in
G Consolidating Assets
L Platinum Pensions
F Accumulated Wealth
H Balancing Budgets
I Stretched Finances
K Seasoned Economy
J Established Reserves
N Traditional Thrift
M Sunset Security
D Growing Rewards
E Family Interest
A Bright Futures
B Single Endeavours
C Young Essentials
And focussing on the priorities
Invest Lump Sums or have Savings Accounts
The rest of the Mortgage Market
Regular Savings and Children’s Saving’s market
First Time Buyer Mortgages
alrayanbank.co.uk Banking you can believe in
► 1.53m Muslim adults (3.12% of UK adult population)
Clear insight for targeting and retail distribution
alrayanbank.co.uk Banking you can believe in
► Majority of Pakistani & Bangladeshi
origin
► Disproportionately young
► High number of households with
children under 18
► Economically active
Informed the broader long-term strategy
alrayanbank.co.uk Banking you can believe in
Reputation Index
All respondents Customer (Muslim) Customer (Non-Muslim)
Non-Customer (Muslim)
Non-Customer (Non-Muslim)
0
100
200
300
400
500
58 87 82 6010
2513 18
2345
2133 18
1915
4360 62
3630
31
4232
42
7
30
6570
14
4
Spontaneous awareness Prompted awareness Understanding Image Consideration Loyalty
207 299 282 194 111
alrayanbank.co.uk Banking you can believe in
Our strategy: two key target groups
49M adults in the UKAverage non-Muslim is 7 times less likely to purchase Islamic finance than average Muslim (Research for Al Rayan Bank by
2Europe, 2013)
1.53M adult Muslims9% exclusively use Islamic
finance; 27% use some Islamic finance; 45% will consider
Islamic finance
Limited levels of non-Muslim interest62% of non-Muslim prospects say they are “unlikely to
use Islamic finance in the future”
But when they do buy, they are loyal
N.B. Some very anti-Islamic (finance) sentiment
• Some from Muslims not believing or misunderstanding
• Some from non-Muslims, generally anti-Islamic
Too large an audience for Al Rayan Bank to
direct market to all, with current budgets
Target Group 1 - MuslimsUse direct marketing techniques to
target best prospects, via both traditional and online techniques
Target Group 2 – Interested non-Muslims
Use Pay Per Click (PPC) online techniques that allow those interested
to self select – so only pay for interested prospects
alrayanbank.co.uk Banking you can believe in
Brand identity and development
alrayanbank.co.uk Banking you can believe in
Brand identity and development
alrayanbank.co.uk Banking you can believe in
Brand identity and development
alrayanbank.co.uk Banking you can believe in
Brand identity and development - values
alrayanbank.co.uk Banking you can believe in
Brand identity and development - transition
alrayanbank.co.uk Banking you can believe in
Moving to a direct sales and marketing model
alrayanbank.co.uk Banking you can believe in
Mobile responsive website
alrayanbank.co.uk Banking you can believe in
Pay per click – driver of growth
alrayanbank.co.uk Banking you can believe in
Online conversion
alrayanbank.co.uk Banking you can believe in
Understanding the routes to sale
alrayanbank.co.uk Banking you can believe in
Return on investment (customer deposits)
alrayanbank.co.uk Banking you can believe in
Last four years’ growth
alrayanbank.co.uk Banking you can believe inalrayanbank.co.uk Banking you can believe in
Top tips to take away
► Plan well and develop a strategy► Understand who your audience is and what they
want► Develop the brand that is most appropriate for your
audience► Use the most appropriate channels to market► Iterate
alrayanbank.co.uk Banking you can believe in
Thank you
Any questions?