Customer Experiences Inc. was engaged to assist the firm to improve their client experience so they could build market differentiation, minimize client defection and build loyalty.

Discovery and Analysis

We began by analyzing and understanding the various business segments the firm was serving. Each segment was examined in terms of the following characteristics:

• Client profiles within each segment
• Financial results, trends, and opportunities
• Customer perceptions of performance and loyalty
• Alignment of organizational capability with client needs
• Opportunities for growth

Allocation of Resources to Best Opportunity Segments

The results of the analysis illustrated a need to focus on specific segments, by building improved capability, tools, and measurement systems. Segments were prioritized based on highest financial opportunity, most relevant services to their specialties and opportunities for growth. Some segments were eliminated to allow reallocation of resources to segments with greatest opportunity.

Building Tools to Increase Customer Engagement

Once the key segments were selected, tools were designed and developed to build market differentiation.

One such tool, “The Red Test”, empowered clients with the means to quickly and effectively self-analyze risks related to their personal estate. The tool gave clients the ability to privately and independently determine whether their estate was at high, medium or low risk.

Since clients were provided with an alternative way to engage with the firm’s knowledge, this simple tool increased client dialog – without the need for one minute of time from a Partner. Based on the assessment results, clients would contact the firm to learn how they might reduce their risk profile. The assessment tool provided Partners with a baseline of information that helped them to efficiently and effectively serve their clients – engendering increased Engagement and Loyalty.

Increasing Differentiation through Partnership Development

While the Discovery and Analysis phase determined that the firm needed to focus on certain key segments due to capability and/or profitability issues, we also learned their clients desire comprehensive service offerings. Based on our research and analysis, we assisted the firm to realign strategy toward building complementary partnerships with other non-competing but complementary organizations. By closely examining the needs of clients within targeted segments, and how the firm could build credible market differentiation within these segments, partner selection criteria was easily developed. Understanding the Promises and key differentiators these segments desired created the opportunity to serve all the needs of their top segments.