cmo event - developing successful new brands for new markets

alrayanbank.co.uk Banking you can believe in

Tim Sinclair, Senior Head of Marketing & Retail Sales

Developing successful new brands for new markets


Who are Al Rayan Bank and what is Islamic finance?


Leapfrogging the competition


Strategy based on ‘Commercial Framework’


Developing an accurate market insight


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


With a ‘Muslim’ overlay


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


► 1.53m Muslim adults (3.12% of UK adult population)

Clear insight for targeting and retail distribution


► Majority of Pakistani & Bangladeshi

origin

► Disproportionately young

► High number of households with

children under 18

► Economically active

Informed the broader long-term strategy


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


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


Brand identity and development


Brand identity and development - values


Brand identity and development - transition


Moving to a direct sales and marketing model


Mobile responsive website


Pay per click – driver of growth


Online conversion


Understanding the routes to sale


Return on investment (customer deposits)


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


Thank you

Any questions?

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