04-2363-2015-1

TELENOR PAKISTAN: SELLING MOBILE ACCOUNTS

During the first week of October 2013, Mr Mahboob Ali Shah, the manager Financial Services Planning
Telenor Pakistan (TP), while sitting in his office, contemplated the future of newly launched (June 2013)
sales team “Mobile Accounts Sales officers” (MASOs). MASOs were solely managed by franchisees and
were dedicated to sell Mobile Accounts only. Mobile Accounts were considered vital in dynamic competitive
horizon of financial services offered by TP, and any decision with regard to MASOs would have long term
consequences not only for financial services division but also for the whole organisation.

TP had 2012 revenues of PKR 85 Billion, it was divided into two business units; GSM (96% revenue) and
Financial services (4% revenue). Financial Services were launched in late 2009 under the brand name of
Easypaisa which were an instant success. In 2009 only, 14% of population had a formal financial access
(Exhibit 1). Easypaisa opened up an array of opportunities for TP to capitalise on its existing channel
structure for GSM business.

Easypaisa product offering comprised over the counter-OTC (Transaction from one CNIC1 to another CNIC
without a need of Mobile Account wallet) and Mobile Accounts2 (see Exhibit 2). Revenue mix of 2012 from
these two products was 90% from OTC and 10% from Mobile Accounts. Due to unique nature of Mobile
Account attributes, they warranted a different selling approach and skill set from TP highly effective selling
machine, therefore TP had to build a new salesforce for selling Mobile Accounts.

MASOs' experiment proved to be a successful one in the first four months; the number of Mobile Accounts
increased by 113% (105,000 to 224,000) and 50% of September 2013 sales were made by MASOs. Shah had
a target to achieve active account 3 sales of 350,000 Mobile Accounts in 2013 as stated in the strategic
objectives of financial services business and also to get the next instalment of $6.5 million funding from
Melinda Gates Foundation4. Melinda Gates Foundations' goal was to improve financial inclusiveness in the
country which was severely under banked. To achieve these sales, Shah had to select from one of the
following options:

1) Increase the number of current MASOs

2) Maintain the same number of MASOs but focus on enhancing their skills and related control system.
3) Develop more sophisticated in-house sales force managed by TP to focus on the institutional and corporate
customers only in addition to current franchisee managed MASOs.

Each option had its own advantages and challenges. Shah wondered as to how to decide and what option to
select.

COMPANY BACKGROUND

The public company that started out in 1855 as “The Royal Electric Telegraph” is what we now know as
Telenor. The company has gone from being a governmental institution, focused on telegraphy to become a
global shareholding company offering some of the most advanced telecommunication technologies and
services in the world. Telenor Group, one of the world's largest mobile operators with 148 million mobile

1
CNIC stands for Computerized National Identity Card
2
Detail in S&D FS Overview The easypaisa services products comparison
3
Accounts with minimum 30 days activation
4
http://www.gatesfoundation.org/How-We-Work/Quick-Links/Grants-Database/Grants/2011/11/OPP1019705

This case was written by Muhammad Luqman Awan at the Lahore University of Management Sciences to serve as basis for class
discussion rather than to illustrate either effective or ineffective handling of an administrative situation. This material may not be quoted,
photocopied or reproduced in any form without the prior written consent of the Lahore University of Management Sciences. Author
would like to thank LUMS MBA Students Mr Muhammad Omer Naseer and Mr Usman Bangash for their help in data collection for
this case.

© 2015 Suleman Dawood School of Business, Lahore University of Management Sciences

Telenor Pakistan: Selling Mobile Accounts 04-2363-2015-1

subscriptions with mobile operations in 13 markets. Telenor is one of the top 500 global companies by market
value5. By 2012 it had 32,900 employees worldwide with revenues of NOK 101.7 billion6.
Telenor Pakistan (TP) 100% owned by the Telenor Group, acquired GSM license in 2004 and began
commercial operations on 15 March 2005. TP had invested over US$749 million in the Pakistan by 2012. In
2012 TP reported a subscriber base of 21 million and a market share of approximately 22%7, making it
Pakistan's second largest mobile operator at that time.

TP acquired 51% of Tameer Microfinance Bank in November 2008. In 2009 it launched 'Easypaisa' to become
Pakistan's first telecom operator to partner with a bank to offer mobile financial services across Pakistan. By
2012 TP had created 2,800 direct and more than 25,000 indirect jobs and had a network of over 200,000
retailers, franchises and sales and service centres, thus providing a means of livelihood to a large number of
people.

Easypaisa launched in 2009

TP launched its financial services by the brand name of Easypaisa in 2009. Easypaisa offered financial
services to 71% of Pakistan's unbanked population which was unbanked due to the reasons highlighted in
Exhibit 3. Easypaisa's value proposition was to offer basic financial services in a reliable and convenient
way. By the end of 2012, Easypaisa had established itself as a preferred brand (More than 80% brand
awareness) with largest network of 36,000 Easypaisa shops in 750 cities. 60 Million Transactions were
conducted in 2012. In 2012 Easypaisa was ranked the third largest mobile money service in the world by
CGAP8. Easypaisa was well received by many local and foreign bodies (Exhibit 4).

Subsequently, Easypaisa launched Mobile Accounts (MA) under its brand name in 2010. Mobile Accounts
worked as complete bank accounts that could be operated from any mobile phone with only a Telenor sim9
card. As many customers were already using Telenor sim card, therefore it gave TP additional advantages in
terms of reduced customer churn, increased GSM ARPU (Average Revenue per user) and at the same time
provided customers unmatched convenience and savings. Mobile Accounts offered all the services available
at OTC (Exhibit 2) and in addition to OTC services they also offered saving & insurance products. (Exhibit
5)

In financial industry due to increased instances of regulatory violations and frauds, State Bank of Pakistan
(SBP)10 was expected to further tighten regulations around OTC banking (Traditional Banking) in near future,
hence Mobile Accounts could play more important role in financial services horizon.

Mobile accounts offered several benefits to all the stakeholders (customers, telecom companies & indirect
channel). For Telenor it increased the GSM sales, reduced churn, and increased switching cost, it also helped
retailers to lower cash management burden with increased convenience and savings. Last, customers got
convenience because it was considered as the most convenient bank account ever to open in Pakistan since
account opening in Pakistan entailed lengthy paper work.

Vice President financial services of TP, Mr Roar Bjaerum believed that time had come when industry needed
to progress from OTC business model to Mobile Accounts due to obvious benefits that Mobile Accounts
offered for all the stake holders. Mobile Accounts were considered to be a strategic necessity for TP due to
its obvious benefits over OTC models.

Pakistan Demographics and ARPU

Pakistan's estimated population in 2012 was 183.5 Million with a growth rate of 2%11. Urbanisation was
37%12 with population density of 232 per sq. km of land area13. In 2012, monthly ARPU of Telenor Pakistan's
market vis-à-vis other countries having Telenor footprint is shown in table14:

5
Financial Times Global 500 2012
6
1 USD = 5.9981 NOK (October 2013)
7
http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/07/Telenor-Pakistan.pdf
8
Consultative group to assist the poor; an institution of World Bank.
9
Subscriber Identification module for a mobile connection
10
Central Bank of Islamic Republic of Pakistan
11
http://www.finance.gov.pk/survey/chapters_13/12-Population.pdf
12
http://data.worldbank.org
13
http://data.worldbank.org/indicator/EN.POP.DNST
14
http://www.telenor.com/wp-content/uploads/2012/09/Telenor-Q4-2012-reportpdf
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Country ARPU (PKR) Country ARPU (PKR)

Pakistan 245 Bangladesh 245
Sweden 3,675 Thailand 892.5
Norway 5,180 Hungary 1,662
India 175 Serbia 1,138
•ARPU =Average Revenue per user in PKR

The low ARPU of Telenor Pakistan’s market shows the high potential that Telenor can tap into by offering a
wide range of value added services.

Financial Services Market in Pakistan

Financial services market in Pakistan offered great potential for organizations to tap banked and unbanked
customers, According to one estimate total addressable market for Mobile financial services was 60 Million
(Exhibit 6).

First Quarter of 2013 witnessed 16% increase in a number of branchless banking transactions. 5% Pakistani
households were mobile money users, however only 0.3% had registered Mobile Accounts15. It indicated the
potential available for companies to pursue the Mobile Accounts' market. Mostly opened Mobile Accounts
were not active only 0.32 million out of 1.4 million accounts (22.86%) were active in the first quarter of 2013,
therefore it was necessary for organisations to enhance the number of active Mobile Accounts.

Majority of active Mobile Accounts could be attributed to the disbursement from Government (social welfare
disbursement) or salary disbursement solutions by private organisations.

Competition

Over the last five years, financial services had become one of the leading value added service in Pakistan's
telecom landscape. Mobilink started financial services named “Mobicash” in 2012 in collaboration with
Waseela Bank (major sponsor was Mobilink). Zong in collaboration with Askari bank launched financial
services under the brand name “Timepey” in December 2012. “UBL Omini” was launched in 2010 under the
flag of UBL. Other competitors included “U-Paisa” by Ufone,

Easypaisa maintained its first mover advantage, however the market share was continuously shrinking and
falling in the hands of competitors. New competitors were continuously entering the market (see Exhibit 7).

TP Sales Organization

TP Sales and distribution organisation consists of a direct and an indirect channel (Exhibit 8). Director S&D
planning function provided support across both channels in a number of areas such as trade marketing,
distribution planning. (Exhibit 9)

Indirect Channel

Indirect channel was divided into seven geographically divided regions, every region was managed by one
regional director (Exhibit 10) who was solely responsible for the region's performance. In any given region
there were, on average, fifteen Territory sales supervisors (TSS), this number could vary based on the size
and future potential of the particular region.

Over the years, TP had developed large distribution base across the country (Exhibit 11), at top of the
pyramid, there were 290 franchises, and these franchises served the retailers in their respective territories.
Such a large distribution base remained one of the competitive advantages for TP as it could not be replicated
by the competition easily.

Territory sales supervisor (TSS) was the main point of contact for franchisee from TP, and TSS was involved
in day to day management of franchisee for TP relationship.

15
branchless banking newsletter Jan-March 2013 issued by State bank of Pakistan
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Territory Sales Supervisors (TSS)

There were 115 TSS in TP. Average TSS had a work experience of four to five years in sales and a bachelor's
degree (sixteen years of education). Job description of TSS is given in (Exhibit 12). Franchise organisational
and functional charts are attached in (Exhibit 13A & 13B) respectively, RSO visited around forty retailers
daily and was responsible for the availability and sales of Telenor's complete portfolio.

Key performance indicators for TSS are described in (Exhibit 14). There was debate among TSS about last
two KPIs (earlier it was responsibility of operations team), whether TSS had any control over these objectives
or not

Compensation:

TSS compensation structure comprised a fixed and a variable component, around 22% of salary was variable.
It was necessary for any TSS to achieve 90% sales on aggregated basis to secure this 22% variable portion.
TSS could achieve an additional 50% incentive when each individual KPI was achieved 100%. Then there
was no incentive for the excess achieved beyond 100%.

Retailer (Agents) Management:

At the base of pyramid, 36,000 financial services retailers played a vital role in terms of delivering value to
customers. Therefore, it was necessary to make sure that retailers were being managed well. TP Easypaisa
devised a thorough process for retailer management from selection to continual training (Exhibit 15).

Retailers played a vital role in influencing customer's decision for using service of any particular company as
on some instances customer was indifferent with regard to which company retailers actually used to transfer
their funds. After the emergence of competition, first target for competition was to poach Easypaisa retailers
to make them their agents as well. According to one estimate around 45% of retailers were using funds transfer
facilities of multiple service providers and competition successfully poached Easypaisa retailers by offering
better commissions. To minimize this trend, Easypaisa initiated a number of projects which focused
(Merchant loyalty program, merchant training program and cash management programs) on retailer loyalty.

Due to increased competition, easier approach for new players was to focus on current agents of TP. Along
with that, a price war had already started among the telecom companies. Such circumstances resulted in
decreased margins for companies in OTC business.

Direct Channel:

It comprised Business solution direct sales team of TP (Exhibit 16A). Main focus of this sales team was to
target value segment (Institutional & Corporate customers). This sales force demonstrated B2B sales
approach in order to manage complex DMU of institutional customers. Scope and Job description of Business
solution team is described in Exhibit 16B.

Issues in Mobile Account Selling:

Financial services carried a weightage of 15% in total KPIs of TSS. This 15% was further divided among
three products: Utility bill payments, Mobile Accounts, and direct remittances. Due to the arduous nature of
Mobile Accounts selling process, it required numerous cold calls, visits to new customers TSS ignored MA
and their primary focus was on KPI with the highest weight (35%), which was of secondary recharge (Easy
load scratch cards). Incentive mismatch for TSS was one of the causes of sluggish sales of MA.

To sell Mobile Account as opposed to OTC services, much more effort by the agents (retailers) was required
due to several reasons. Typically it took around twenty-five minutes to explain product features and usage
instructions to a prospective customer. Since majority of Easypaisa retailers were engaged in other businesses
such as grocery store, tobacco shop etc., it was not in their interest to spend time on selling Mobile Accounts
as they could earn more income by investing the same time in other businesses. Limited interest in Mobile
Account selling from existing OTC retailers was another reason for sluggish sales of MA.

Mobile account offered the services of a complete bank account, therefore in order to open a Mobile Account,
compliance from State Bank of Pakistan was also required. Currently there were only 2,800 Mobile Accounts
registered retailers against the total of 36,000 Easypaisa retailers. Limited foot prints of MA registration
points also resulted in slow sales of MA.

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Easypaisa launched OTC services before MA in Pakistan, as opposed to other countries in the world where
Mobile Accounts were launched before OTC services. This was due to the strict regulations of SBP which
required lengthy paperwork for account opening whereas for money transfer only CNIC of the customers was
required and as CNIC availability was not an issue in Pakistan, therefore Telenor Pakistan Management chose
to enter in Financial Services with Easypaisa OTC services.

Mobile Accounts Sales Officer Evolution

The unique features of Mobile Accounts warranted a different selling approach as compared to the current
sales and distribution infrastructure of TP offered. It was agreed that due to different product attributes, MA
required a push as opposed to a pull strategy to sell. In order to achieve these objectives Mobile Accounts
Sales Officers' structure was introduced in April 2013. It had following objectives at the time of launch.

 To have a mobilised field force in the franchise channel.

 To increase the number of direct selling agents of Mobile Accounts
 Develop a sales force which had direct interaction with customers regarding educating and guiding
them for Mobile Account usage.
 MASOs were to ensure active Mobile Accounts' continual usage?

Sales Process: (JD)

Mobile accounts sales officers had to interact with customers in several ways. Primarily they found their
customers through cold calls, house to house visits, visits to small and medium offices, and leads collected
through retail channel. On a typical call, MASOs told customers about product features, benefits, and tried to
address all the customer queries. Every MASO was given a special handset with an application installed in it
to complete all the requirements to open a MA on the point of sale. It decreased the confusion which the
customer experienced prior to MASOs where they had to visit appropriate Telenor/retailer premises and the
retailer was unable to explain the product features due to lack of time.

Roll out Plan for MASO:

After approval of MASO plan by management in first quarter 2013, detailed execution and rollout plan was
prepared (Exhibit 17). Objective of this plan was to ensure a flawless execution of MASOs, nationwide.

Structure

Two MASOs were hired initially per franchisee, the number could vary based on the geographical location
of franchisee and the willingness of the franchisee as each MASO increased the fixed cost of the franchise.
But the initial decision of two MASOs per franchise was decided after a thorough sensitivity analysis
performed by TP (see Exhibit 18). TSS was primarily responsible for the hiring of their franchisees MASO.

Skills

Average qualification of MASO was intermediate 16 with two years of experience in general, primarily
MASOs demonstrated hunting17 characteristics with a sole focus on to sell Mobile Accounts. MASOs initially
targeted the prepaid segment of GSM business without any elaborate segmentation plan. Training of MASOs
was carried out by regional trainers, initially when they were hired. Additional trainings were to be conducted
if there was any change in the product features or any new product was offered. All the trainings were carried
out by the existing regional trainers hence it will not entail any incremental cost.

Compensation

MASOs were on the franchisee pay role, with average fixed salary of PKR 9,000 per month. On registration
of each Mobile Accounts, the MASO became eligible for PKR 30. MASO could earn PKR 150 after two
transactions in two distinct months on the same MA. To reduce churn, major part of the variable compensation
was aligned to transaction in the account sold. Sensitivity analysis for MASOs and franchisees earning is
attached (see Exhibit 18).

16
Equivalent of 12 years of education or High School Completion
17
Hunters: Hunter salespeople are persuasive, have a strong sense of urgency, and are adept at bouncing back from rejection.
Farmers: Farmer salespeople are empathetic, consistent, and adept at developing relationships. (From Personal Selling and Sales
Management –HBS by Professor Thomas Steenburgh)
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Results in First Four Months

MASOs performance in the first four months was commendable. They were able to sell 105,000 active Mobile
Accounts in these four months. The monthly break up of these sales is given in Table 1.

Table 1: Monthly Sales Data

Month May June July August September

Sales 9,438 12,437 19,678 29,083 48,364

MASOs found the job very challenging as it involved going out in the field and convincing people to use
mobile accounts. One of the MASOs commented:

We have to do lots of cold calling to several types of people and most of the time our effort
goes to waste because when it comes to money, people are conscious about it and they are
not ready to trust us, therefore it is very difficult to stay motivated in the field.

MASOs' turnover was high (25% as compared to the 15% industry benchmark). Reason for high turnover
was the nature of the product which was relatively new and required tons of effort to be sold to consumers.

With the roll out of MASOs, TSSs were happy as now a portion of their KPI was being completed by
MASO’s. A TSS commented “MASO’s have made my life much easier as now I don’t have to worry about
mobile accounts targets in my KPI which although had a small percentage but required a lot more effort and
time. Now I have dedicated resources to work on Mobile Accounts and I can focus more on my core KPIs”

The franchisee was also happy as he was making more money (see Exhibit 18) whereas the retailer had some
concerns as he believed that the sales of OTC services might go down as more and more people start using
Mobile Accounts.

Way Forward

MASOs' experiment was a great success as Mobile Accounts sales in the first four months demonstrated a
substantial increase of 113%. However, following options were being considered by Telenor Pakistan about
future of MASOs.

1. Increased number of MASOs from 500 to 800:

In order to achieve 2013 annual objective of 350,000 Mobile Accounts, one option was to increase the number
of MASOs. Keeping in view the performance of MASOs in first four months, one could safely assume that
an increase in number of MASOs will result in more active Mobile Accounts. With increased MASOs,
Franchises could get more opportunity to make money as the Mobile Account brand got established. Bill &
Melinda Gates Foundation donation ($6.5 million) instalments were also linked with the 350,000 active
accounts target hence increased MASOs could contribute in achieving this benchmark.

There were also concerns with regard to quality and control of MASOs. End customers considered MASOs
as the Telenor representatives, but in reality, Telenor exercised little control on the selling efforts and
behaviours of MASOs as they were the employees of franchisees. There were quite a few franchises who
made good profits on MASOs; however, some of the franchisees were not convinced by the effectiveness of
MASOs' business model and it could take time that this model made business sense for them.

2. Maintain the current numbers of MASOs and focus on service quality/control.

Another option under consideration was to maintain current numbers of MASOs while at the same time focus
on building their skills so that service expectations could be met. It was expected that well trained MASO
demonstrated good relationship skills with customers and were able to increase their usage of Mobile
Accounts on continual basis. It could increase ARPU for Telenor and subsequent earnings for franchises. It
could also provide an opportunity for those franchisees who struggled to get returns from their investment.

On the other side, while maintaining the existing number of MASOs there was little hope for TP to achieve
their business objectives and commitments with international stake holders. Keeping in view the dynamics

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of OTC markets, if there was some delay in acquiring more Mobile Accounts, it could result in losing share
to the competition as well.

3. TP owned MASOs in addition with Franchisees owned MASOs:

TP currently managed sales force for value segments (institutional and corporate customers). TP was
evaluating an option to appoint MASOs on its pay roll to serve the value segment. TP planned to upgrade the
average profile of MASOs and bring it to the level almost similar to business support executives. Proposed
upgraded MASOs planned to cater to the value segment of the market, while mass segment would be served
by Franchisees MASOs as usual.

This approach could make it possible to sell Mobile Accounts to banked segment (corporate as well as
individuals) of the market which looked forward for convenience in these services. It could also provide much
more control on the efforts of MASOs but a thorough cost and benefit analysis had to be done.

It was 7pm on the office clock and Shah was still thinking about which one of those three options he should
recommend to the top management. Albeit enormous uncertainty was associated with these decisions but one
thing was crystal clear that whatever decision was taken with regard to MASOs' future, it would have serious
long term consequences for the Financial Services business of TP.

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Telenor Pakistan: Selling Mobile Accounts 04-2363-2015-1

Exhibit 1: Financial Inclusiveness in Major Asian Countries

Source: Company Documents

Exhibit 2: OTC versus Mobile Account Offering

Source: Company Documents

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Exhibit 3: Banking Penetration in Pakistan

Source: Company Documents

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Exhibit 4: Success of Easypaisa

Source: Company Documents

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Exhibit 5: Services offered by Mobile Accounts in Addition to OTC

Source: Company Documents

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Exhibit 6: Potential Market

Source: Company Documents

Exhibit 7: Entry of Competitors in Financial Services Industry

Source: Company Documents

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Exhibit 8: Sales & Distribution Organization of Telenor Pakistan

Source: Company Documents

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Exhibit 9: S & D Planning Structure

Source: Company Documents

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Exhibit 10: Organization (Indirect Channel)

Source: Company Documents

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Telenor Pakistan: Selling Mobile Accounts 04-2363-2015-1

Exhibit 11: Indirect Channel Distribution Base

Source: Company Documents

Exhibit 12: Territory Sales Supervisor Job Description

• Planning sales moves in order to maximize sales in assigned territory

• Preparing and submitting sales targets grasp potential for Sims, scratch cards,
Eload,MNP,VAS,Easypaisa,Sahulat Ghar,Postpaid and ensuring their executions
• Ensure to gain complete product knowledge
• Presenting out of the box ideas and ensures the execution within territory
• To gather Market Intelligence information on regular basis
• To ensure availability & visibility of the product on all active retail outlets in the region
• To continuously increase the active number of retail outlets in the region
• To ensure that the franchise staff is trained on Product knowledge, Systems, Routines &
Procedures and soft skills
• Monitoring KPIs of Franchises
• To ensure that Telenor standards of house keeping, availability and visibility are meet at all
franchises & retail Network

Source: Company Documents

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Exhibit 13A: Franchise Organizational Chart

Source: Company Documents

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Exhibit 13B: Franchise Functional Chart

Source: Company Documents

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Exhibit 14: TSS Key Performance Indicators

Source: Company Documents

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Exhibit 15: Retailer Selection, Engagement, and Accountability

Source: Company Documents

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Exhibit 16A: Business Sales (Direct Channel)

Source: Company Documents

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Exhibit 16B: Functional Chart (Direct Channel)

Source: Company Documents

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Exhibit 17: Execution and Rollout Plan for MASOs

Source: Company Documents

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Exhibit 18: Earnings Projections for MASOs and Franchise

Source: Company Documents

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