100% of asset managers are revising their overall strategies in response to COVID-19, and 68% expect client experience (CX) to play an important part. This research found that, during the height of the crisis, firms with a stronger CX capability seized opportunities while others moved onto the defensive. Lastly, we were able to use an exceptionally high response rate of 84% to identify the steps firms expect to take as they develop their CX strategies.
Survival requires differentiation and, for asset managers, the old ways have become unreliable. To address the root cause, firms should shift from being ‘product-led’ to ‘client-led’ and redress any internal imbalance. CX is here to stay and it’s a good thing: you will get what YOU want, by helping clients get what THEY want.
We have pledged to give 1% of Accomplish to someone in Tower Hamlets through GenieShares. This initiative will forge a link between Accomplish’s hopes and dreams for the future, and those of the communities we serve.
Client experience is a client’s overall impression of you as a supplier. It is personal, subjective, open to influence, sometimes irrational, and subject to change as a result of any and every interaction they have with your firm. We advocate deliberate ‘expectation-setting’ and ‘sweating the small stuff’ as well as glory projects.
Accomplish’s CSR policy encourages us to give our time to our local communities. Here are 7 things that surprised Adam Grainger during his year at Food Cycle.
For many asset managers, client experience (CX) has become the way to get noticed and to retain their clients’ confidence. CX will also impact your profitability twice – influencing both revenue and costs. Yet our research indicates an industry-wide issue. Asset managers should seize this opportunity with the four-stage response outlined in our report.
Did you know that 70% of change initiatives fail? We researched why and how to improve success rates. Read our key findings.
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