Developing a Systematic Approach to Dealing with Investor Inquiries

1. Developing a Systematic Approach to Dealing with Investor Inquiries Kathy KhuuNairobi, KenyaOctober 2010

2. What Does it Take to Become a Good Facilitator? Strategy Technology Human Dimension Internal Systems Knowledge Management Monitoring & Evaluation

3. 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

4. Investor Inquiry Handling

5. Components of Inquiry System: 5 Steps Reception Screening Processing Response Follow up

6. 1. Reception: Making Sure Inquiries Get To Us Inquiry reception must be handled under the principles of Availability and Contactability • Display clearly IPI contacts • Display contacts from the inverstors’ need • perspective: by topic or sector Web site • Make sure telephone works at all times! • Promotion staff should have own phone line • Voice Mail to allow prompt call-back Telephone • Working emails with adequate spam filters • Individual emails for each promoter • Automatic replies. Email

7. 2. Screening and Setting Up Priorities • Inquiry screening should be done promptly, fairly and following established qualification criteria • 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

8. 3. Processing: Allocating Resources Based on Type of Inquiry Inquiry processing, with timely responsiveness and staff guidelines of response Level 1 Level 2 Level 3

9. 4. Response: Ensuring Quality Drafting: Consistent, Accurate and Making a Business Case Quality Control Client Tracking System KM

10. 5. Follow-Up: Converting Inquiries into Leads By providing ongoing customer care to the interested investor, according to their timeline and process 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!!!

11. 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

12. What will set your IPI apart from other IPIs? Timeliness Quality Professionalism Follow-Up Monitoring and Evaluation Improvement ! Questions ?