PROJECT

To grow Direct channel sales by improving the per person productivity of the Direct Sales team (DST) and its persistency and quality of business. This was a field sales team supported by a centralized Tele-calling (TELCA) team.

OBJECTIVES

• To grow productivity per person in terms of number of units sold (NOPs or number of policies);

• To improve the quality of business of this team by improving the 13th month persistency

WORK DONE

• A detailed 3-month observation and data gathering method was followed where Serengeti Ventures collected data and MI on all aspects of the sales team performance across 24 months, by location, by vintage of sales person, by product, lead systems, daily activity management, incentives, KPI and targets.

• Initiatives done at the field level were on 4 parameters:

» Improvement of lead funnel at the top (both at local level and centralized leads);

» Role clarity, simpler KPIs/goal sheets, improved incentive plans

» Supervisory coaching system developed and handed over to the company;

» Training Workshops done across the country (5 regions) to cover all team members;

• Work done on HR related items - attrition management steps, job descriptions were re-drafted, offer letters to new recruits were enhanced to have clear goal expectations, new performance appraisal system with greater weightage on NOPs was launched.

• Renewal Premium collected KPI was added to the goal sheets of Zonal Managers and National Head. Specific focus was given to have scheduled monthly activity at a frontline sales level to follow-up and collect on due and lapsed customers. This dashboard was created for a granular discussion on branch wise persistency.

• An innovative lead generation campaign was run in the Group’s sister company, a retail chain. A unique marketing campaign to generate leads from the retail centres was a big hit as more than 30,000 leads were gathered. In fact, the sales force of about 150 was unable to keep pace with the leads.

KEY OUTCOMES

KEY LEARNINGS

This was a case study of “turnaround” of a below par sales team to a growth team. Sales improved (though NOP per person was still low) and Persistency and quality parameters were improved dramatically.