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Case study: align your BI with your business planning


Is your BI ready to support next year’s business plan?

The Behavioral Benchmark is a new business intelligence (BI) tool that ‘early adopter’ asset managers are now using to solve real-world problems.

This case study is one of a series that demonstrates the value of incorporating client behavior into your business planning.

The problem – in their own words

Client retention is crucial to our business plan, yet we couldn’t measure it.

Our strategic objectives for the upcoming period are to retain our existing clients and to grow by deepening our relationships with them. However, we faced an immediate challenge: we had no measure of client retention.

Added to this, we had no industry comparators for either of these objectives, and we were concerned about setting targets that were either too easy or too hard.

Accomplish’s response

We provided the definitions of these metrics from the taxonomy that all firms in the Behavioral Benchmark use.

Straightaway we encountered another problem: in recent years, they had implemented a new billing system, and their Finance department did not have the start date of every client relationship.

We had seen something similar before, so we dug into the archives of our User Group notes for information about how some firms were also sourcing start dates from their CRM systems. Eureka! This worked.

We also persuaded them to take a step back: client tenure and relationship depth are difficult to stimulate directly. What, then, was their plan to achieve their objectives? And what day-to-day client behaviors could they target and measure to help them influence the outcome?

They planned to engage clients with thought leadership e-mails and follow-up events. They would then focus on converting these types of engagement into targeted meetings and requests for pitches. The benchmark also measures these client behaviors, so now they can measure progress towards their objectives and the performance of their underlying strategies at targeting specific responses in clients.


In their words

We are now measuring client tenure, relationship depth, and key aspects of our various strategies for achieving them, e.g. marketing, sales, and service … and we are doing so in a way that we can compare against our peers.

This helped us set informed and realistic targets, which we customised after seeing that different regions experienced different results.

And while it seems so obvious, our strategy now drives our BI making it richer and keeping it fit for purpose.

In Accomplish’s words

Staying for another year (client tenure) and buying another product (relationship depth) are crucial client behaviors, so we are delighted that this clear-sighted firm can now monitor their contribution to its game plan.

We are also pleased they benefited from the best practice definitions the User Group of ‘early adopter’ asset managers  developed for the different types of client behavior.

Lastly, helping firms re-align their BI with their strategic objectives is all part of our service – whether they are joining the benchmark or have been in it for a while. We do this because it makes sense to measure only the things that matter, and they change over time. So, if you do not periodically align your BI, you can end up walking around with your head in the clouds.

A series of behavioral benchmarking case studies

We hope you found this case study useful. It is part of a series that demonstrates the value of incorporating information about your effect on client behavior into your business planning. Here are the other topics:

  • Align your BI with your business planning 📈
  • Our sales funnel is broken 🛠️
  • We don’t really have any MI! 😱
  • What are the one or two big things we should focus on? 🎯

Contact us if you are trying to solve a different client-related problem, and we will explain the behavioral lens you could apply to it. After all, actions speak louder than words.

Adam Grainger

Adam Grainger

A 20-year veteran of the investment industry. Client experience. Behavioral analytics. Data science.