The Client Behavior Benchmark was designed by asset managers for asset managers. Through the self-governing User Group you, the asset manager, remain in charge of the benchmark. This gives you access to new tools and data, a safe environment for sharing best practices, and the ability to shape the benchmark’s future. This makes the benchmark self-strengthening and aligned to asset managers’ needs.
Accomplish’s Nurturing the Future project has planted its first 500 trees in honour of our clients. As more follow, we look forward to our client relationships growing alongside the trees in their neighbouring forests.
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, explore its unique features, and explain how a large proportion of this is already operational and delivering commercial value to our clients.
As we prepare for Accomplish’s third birthday, we are proud to announce our third community project, which we have called ‘nurturing the future’. In honour of every client, we are now donating a proportion of revenue to planting trees in their local states, départments, counties, etc.
What digital experiences are asset managers giving to institutional clients today, and what are they planning for the future? Which services are the same through a portal, which can you improve, and which ones enable you to generate entirely new value? And how are firms tracking clients’ online behaviours to ensure the ongoing relevance of their digital experiences?
When CX fails, it is not because of lack of capability – it is because of knowledge, strategy, and culture. Check out our blog on why CX initiatives fail, the paving stones to client dissatisfaction, and the features of some eye-rollingly out-of-date cultures.
Client experience is an ‘effect’ you ‘cause’. It occurs in two ways – in what clients say (feedback), and what they do (behavior). To manage CX, you should measure both. In this blog, we explore how asset managers are measuring client feedback, and how leading firms have developed a much-needed behavioral benchmark.
Long-term forces of supply and demand mean that, for most asset managers, client experience (CX) has become THE reliable differentiator. It is here to stay, and it is entirely within your control. To differentiate yourself through CX you need to manage it. To manage it, you need to measure it.
Segmentation is about your clients’ needs. Tiering is about yours. Together with client journeys, you can make your business feel like a natural home for your clients as well as target your most valuable relationships. Accomplish’s latest research has unearthed how asset managers are doing this and how a minority of asset managers are gaining strategic value.
Effective segmentation and tiering are worth the strategic value they bring. In this second blog in our three-part series, we demonstrate how firms can secure the value they strive for.