the well-integrated client acquisition system is expected to empower the sustainable growth for Lufax.
Chapter 7: Diverse client acquisition channels
In the credit sector, Lufax owns a large offline sales team. By the end of June of 2020, the company had over 56,000 full-time employees working in sales and marketing that covers over 270 cities in China. Without an associated e-commerce platform, Lufax has built its own way in client acquisition. In the sector, it has formed an effective offline-to-online marketing model that allows the company to source the most-qualified borrowers and provide more customized services. By the end of June of 2020, near half of the loan facilitated came from direct sales.
Also, the wealth management sector doesn't depend on online marketing as well. Over 33% of the new investors are contributed by the member referral program. The existing clients are willing to refer their friends and families as Lufax is able to provide suitable investment services.
As discussed in the first part, Ping An has been providing a large portion of clients to Lufax all the time, which means Ping An's client base is also a large pool that can be continued explored in the future.
In sum, the well-integrated client acquisition system is expected to empower the sustainable growth for Lufax.