THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
Developing a Systematic Approach to Dealing with Investor Inquiries
Kathy KhuuNairobi, Kenya
October 2010
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
What Does it Take to Become a Good Facilitator?
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THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
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What Do Top 25 Performers Have in Common?
1. Inquiries are taken very seriously 79% have key account management: a single person to handle
each lead 86% screen and prioritize inquiries according to potential value
of investment and sector priority
2. Internal systems are robust and processes are clear 92% use Client Tracking Systems 92% have written staff guidelines on how to respond to
inquiries 57% establish fixed time parameters for responding to inquiries 86% have periodic staff meetings to update the pipeline
3. The right staff at the right pay 76% of staff has private sector experience 71% of successful IPIs pays staff at over public sector levels 76% staff stays a maximum of 5 years on the job
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
Components of Inquiry System: 5 Steps
Reception
Screening
Processing
Follow up
Response
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
1. Reception: Making Sure Inquiries Get To Us
Inquiry reception must be handled under the principles of Availability and Contactability
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Web site
Telephone
• Display clearly IPI contacts• Display contacts from the inverstors’ need perspective: by topic or sector
• Make sure telephone works at all times!• Promotion staff should have own phone line• Voice Mail to allow prompt call-back
• Working emails with adequate spam filters• Individual emails for each promoter• Automatic replies.
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
2. Screening and Setting Up Priorities
• Inquiry screening should be done promptly, fairly and following established qualification criteria
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-Sector-Value-Number of jobs-Type of investor- Source
• Although all inquiries should be attended to, those inquiries that match the IPIs strategic areas (ex. priority sectors, high employment projects) should be given special attention and handling
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
3. Processing: Allocating Resources Based on Type of Inquiry
Inquiry processing, with timely responsiveness and staff guidelines of response
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Level 1 Level 2 Level 3
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
4. Response: Ensuring Quality
Drafting: Consistent, Accurate and Making a Business Case
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Quality Control
Client Tracking System
KM
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
5. Follow-Up: Converting Inquiries into Leads
By providing ongoing customer care to the interested investor, according to their timeline and process
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Follow up and Build the Relationship with the Company
For example:• Can you tell me more about the project? – Before we answer the inquiry• Have you received the information we sent you? --2 days after response• Do you need anything else? – 1 week after response to inquiry• How is the selection process going? – 1 week after inquiry deadline • Can I come to meet you in your office? – Any time!!!
THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency
Last but not Least - Monitoring & Evaluation: What Gets Measured Gets done
Track the whole investment generation process: Responding to inquiries is the entry point of the lead pipeline, the IPI as a whole should measure its effectiveness in generating investment from this point on until establishment.
Performance Targets for Staff: converting X inquiries into Y actual leads (site visit) Objective: follow up to develop relationship with investor with a view to influencing the investment decision
Management Oversight is important to ensure quality control
Survey client satisfaction some weeks after inquiry reply submitted
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