A unique business intelligence tool
We have been a little quiet recently as we have focused our efforts on building a unique business intelligence tool that will be the future of client experience (CX).
This is the first blog in a new series that will describe the tool (which we call the CX Touchpoint Benchmark), explore its unique features, and explain how a large proportion of this is already operational and delivering commercial value to our clients.
The remaining blogs in the series will each investigate in detail one of the unique features.
Asset management CX benchmarking
Accomplish collaborated with a group of firms from the Asset Management CX Forum to design and prove the concept of behavioural benchmarking and to build the data series that is now yielding commercial value to its participants.
To align firms’ measurements with their clients’ needs, we have developed segment-specific versions of the benchmark and, in case some asset managers are not quite ready yet for benchmarking, we are letting them measure basic CX metrics for free.
This new tool is important to the industry because it is the essential complement to measures of client feedback, e.g. client satisfaction surveys, advocacy scores, etc. This is because CX is an ‘effect’ you ‘cause’ that occurs in what clients say (feedback) and what they do (behaviour). But humans are tricky creatures and what they say can dramatically contradict what they end up doing. Because of this, feedback data from your clients will contain gaps and inaccuracies. So, if you want the true story, you must also measure their behaviour.
A unique business intelligence tool for asset managers
Here is a summary of the benchmark’s unique features. In subsequent articles, we will explore each one in detail.
- Behavioural analysis – because actions speak louder than words, if you want the true story about your client experience you must measure their behaviour as well as their feedback. A taxonomy that we call the Helix© defines the moments that matter, target behaviours, and CX metrics.
- Segment-specific client journeys – some aspects of your client journey will matter to all clients, while others will matter more to some and not at all to others. The CX Touchpoint Benchmark addresses this with segment-specific client journeys.
- Exploit the power of the User Group – you and your peers will direct the data and tools you need, share best practices, and synthesize new solutions. The strong are getting stronger.
- Client experience kite mark – differentiate your firm from those that can only say they are ‘client-centric’: demonstrate your tangible commitment to CX and be able to initiate meaningful discussions about it with clients and prospects.
- Just start measuring CX for free – use our freemium business model to start measuring basic CX immediately for free. This will develop your CX measurement capability that you would be able to roll out more broadly.
We are excited about this unique business intelligence tool that we expect to set the future direction and pace of client experience for asset managers, and we look forward to elaborating throughout the remainder of this blog series:
- Capstone: a unique business intelligence tool
- Behavioural analysis
- Segment-specific client journeys
- Exploit the power of the User Group
- Client experience kite mark(due H1 2022)
- Just get started for free
Follow Accomplish on LinkedIn if you would like a notification when we publish them.