Deposit Mobilization Techniques.pptx

Banking finance

1. Deposit Mobilization Techniques Facilitated by: Amir Zahoor Khan

2. Introduction of Participants & Trainers

3. Lion – I have to always win - COMPETITION Turtle – Avoids dealing with enemies - AVOIDANCE Zebra – I am fine, winning sometimes and also losing sometimes - COMPROMISE Chamelion – It’s really OK for me to lose - ACCOMODATION Dolphin – I prefer that we both win - COLLABORATION

4. Write down your fear & POP IT!

5. Importance of Deposit Mobilization Deposits as a primary source of funds for banks Facilitates lending and investment activities Enhances liquidity and stability of the bank

6. Understanding Deposit Mobilization Definition : The process of attracting and accumulating funds from individuals and businesses Types of deposits: Savings, current, fixed deposits, etc. Role of deposit mobilization in bank profitability

7. Building Customer Trust Establishing a strong reputation and credibility Providing excellent customer service Transparency in operations and communication

8. Competitive Interest Rates Offering competitive interest rates on deposits Researching and analyzing market rates Periodic evaluation and adjustment of rates

9. Diversifying Deposit Products Introducing a range of deposit products to cater to different customer needs Savings accounts, fixed deposits, recurring deposits, etc. Customizing products for specific target segments

10. What is cross-selling and up selling? Definition: Upselling is the practice of encouraging customers to purchase a comparable higher-end product than the one in question, while cross-selling invites customers to buy related or complementary items. Though often used interchangeably, both offer distinct benefits and can be effective in tandem.

11. Role Play Banker VS Customer

12. Effective Marketing and Promotion Developing targeted marketing campaigns Utilizing various channels like print, digital, and social media Highlighting unique features and benefits of deposit products

13. Understanding 7 P’s of marketing through activity

14. Incentives and Rewards Introducing promotional offers, bonuses, or gifts for depositors Referral programs to encourage existing customers to bring in new deposits Loyalty programs to reward long-term depositors

15. Relationship Management Fostering strong relationships with existing customers Regular engagement and personalized communication Identifying opportunities

16. Branch Expansion and Accessibility Opening new branches in strategic locations Ensuring convenient access for customers Utilizing technology for online and mobile banking services

17. Strategic Partnerships Collaborating with companies, organizations, or institutions for deposit mobilization Payroll tie-ups with corporations Associations with government agencies or pension funds

18. Employee Training and Incentives Providing comprehensive training to bank employees Equipping them with product knowledge and sales skills Offering performance-based incentives and rewards

19. Customer Education Conducting financial literacy programs Seminars and workshops on banking and savings Providing educational materials and online resources

20. Relationship with Local Communities Engaging in community outreach programs Sponsorship of local events or sports teams Creating awareness about the bank's deposit products

21. Negotiation Skills An effective negotiator will be using some of the below skills during the process of negotiation. Active listening. Asking good questions. Communication skills (Specially verbal communication) Decision making ability. Emotional control. Interpersonal skills .

22. BATNA / WATNA BATNA and WATNA are two key concepts in mediation and negotiations. BATNA stands for "Best Alternative to a Negotiated Agreement," and WATNA stands for "Worst Alternative to a Negotiated Agreement." Understanding your BATNA and WATNA can be a valuable tool in helping you to negotiate effectively in mediation.

23. BATNA

24. WATNA

25. Mobile and Digital Banking Developing user-friendly mobile banking applications Enabling easy online account opening and deposit management Offering additional benefits for digital banking users

26. Building Right Attitude & Behaviour

27. Contt ….

28. Geographic Expansion Identifying potential markets for deposit mobilization Expanding into new regions or countries Adapting to local market demands and regulations

29. Customer Feedback and Surveys Conducting regular customer surveys to gauge satisfaction

30. Story of a Bank Using 6 Sigma Techniques.

31. Customer Feedback and Surveys Collecting feedback on deposit products and services Identifying areas for improvement Implementing changes based on customer suggestions

32. Referral Programs Implementing a referral program to incentivize customers to refer potential depositors Offering rewards or bonuses for successful referrals Creating a win-win situation for both the referrer and the new depositor

33. Targeted Advertising Utilizing data analytics to identify potential depositors Tailoring advertising campaigns to specific target segments Maximizing the effectiveness of marketing efforts

34. Relationship with Financial Advisors Collaborating with financial advisors or wealth management firms Leveraging their network and expertise to attract high-net-worth individuals Offering specialized investment options alongside deposit products

35. Customer Retention Strategies Implementing strategies to retain existing depositors Providing personalized services and benefits Offering loyalty rewards and exclusive privileges

36. Corporate Social Responsibility Initiatives Engaging in socially responsible initiatives Donating a portion of deposit interest to charitable causes Highlighting the bank's commitment to the community

37. Innovative Deposit Products Introducing innovative deposit products with unique features Green deposits promoting environmental sustainability Goal-based savings accounts with attractive incentives

38. Activity Time Group Activity on Communication

39. Strategic Alliances with Fintech Companies Partnering with fintech companies for innovative deposit solutions Collaborating on digital payment platforms or digital wallets Leveraging technology to attract tech-savvy depositors

40. Personalized Financial Planning Services Offering personalized financial planning services to depositors Assisting customers in setting financial goals and creating savings plans Positioning the bank as a trusted financial advisor

41. Cross-Selling Opportunities Identifying cross-selling opportunities with depositors Promoting other banking products like loans, insurance, or investment options Providing bundled solutions to meet multiple financial needs

42. Strong Online Presence Maintaining a user-friendly and informative website Optimizing search engine visibility to attract online traffic Providing online account opening facilities and seamless digital experiences

43. Continuous Market Research and Analysis Conducting regular market research to identify trends and customer preferences Analyzing competition and staying updated with industry developments Adapting strategies and products accordingly to stay ahead in the market

44. Communication Skills

45. Conclusion Recap of key techniques for deposit mobilization Emphasize the importance of a comprehensive approach Thank the audience and invite questions