the world bank world bank group multilateral investment guarantee agency developing a systematic...

THE WORLD BANKWorld Bank Group Multilateral Investment Guarantee Agency

Developing a Systematic Approach to Dealing with Investor Inquiries

Kathy KhuuNairobi, Kenya

October 2010


What Does it Take to Become a Good Facilitator?

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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


Investor Inquiry Handling

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Components of Inquiry System: 5 Steps

Reception

Screening

Processing

Follow up

Response


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

Email

• 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.


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


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


4. Response: Ensuring Quality

Drafting: Consistent, Accurate and Making a Business Case

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Quality Control

Client Tracking System

KM


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!!!


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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What will set your IPI apart from other IPIs?

Timeliness

Quality

Professionalism

Follow-Up

Monitoring and Evaluation

Improvement !

Questions ?14

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