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Maximizing Digital Sales in a Major Turkish Bank

Two hundred fifty digital sales opportunities in 3 key areas resulted in a 26% increase in active digital customers.

Business Challenge

Achieving growth in digital sales is a strategic priority.

Achieve growth in digital sales as a strategic priority.

Turkey's banks and financial services institutions have been leading the way in delivering their services along digital channels. However, growth has been in the passenger's rather than the driver's seat. It has yet to be an equal strategic priority. We worked with Turkey's fifth-largest private bank to achieve growth in digital sales.

Five factors drove the pressure on banks to develop digital sales:

Ever-increasing turf-war competition, especially with core products such as personal loans and credit cards shifting to digital
Acceleration in the use of digital channels by consumers during the COVID pandemic; and increasing consumer expectations
Changing regulations and restrictions by The Banking Regulation and Supervision Agency (BRSA) on high-performing external remarketing channels such as Google & Facebook resulted in significant effects on digital marketing, including 3rd party data collection, targeting, and segmentation.
• Challenge of selecting and implementing the right MarTech and AdTech stack to ensure sustainable and efficient digital sales operations.
• The need to enable a mindset shift towards digital sales in organizations and redesign ways of working.
How did we help?

Delivering success in digital sales requires a holistic approach achieved through a coordinated effort with improvements in all pillars of the digital revenue growth framework:

Delivering success in digital sales requires a holistic approach achieved through a coordinated effort with improvements in all pillars of the digital revenue growth framework:

• Smart Offering
• Smooth sales and onboarding experience
• Efficient performance marketing
• Agile digital sales organization working towards the same growth objectives

Hence, we started with an in-depth analysis of existing practices, resources, and results delivered through the lenses of our framework to identify the boulders to be eliminated and opportunities to provide digital sales and design a sustainable operating model.

The analysis and design phase results were priorities and critical initiatives to drive the objective-based agile DRS sprints, Phase 2 of our project. Phase 2 focused on essential products and services where integrated and diverse teams tackled concrete problems and attacked over 250 digital sales opportunities in three specific areas:

• Sales results and quick wins
• Objective-based immediate optimizations
• Well defined Technology, UX and Process backlog
Results Achieved

The project delivered an immediate sales lift, proving its potential and transforming how the bank approached digital revenue generation. Together we were able to react promptly to regulatory changes, design the optimum Mar-Tech stack, and build the foundations for sustainable digital sales.

The project delivered an immediate sales lift, proving its potential and transforming how the bank approached digital revenue generation. Together we were able to react promptly to regulatory changes, design the optimum Mar-Tech stack, and build the foundations for sustainable digital sales.

The integrated squads executed nine objective-driven agile sprints for the first time and provided the much-needed focus on digital sales that provides:

• Continuous optimization to deliver consistent digital sales results increased digital channels' share in total sales by 2.1x in GPL and 1.3x in retail credit cards.
• Offering optimization to leverage digitally owned channels led 21x GPL sales increase in mobile banking's main offering area.
• Digital onboarding programs and trigger-based offerings designed by following customer footprints led to a 26% increase in active digital customers.
• Redesigned offerings for incomplete retail credit card applications and increased the conversion rate by 10x.
• Operational and management dashboards with clear metrics and KPIs made digital sales data accessible and usable.
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