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Client experience kite mark

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Client experience kite mark

Words are cheap, so we are designing a client experience kite mark for the asset managers that are ‘walking the talk’ on CX.

Welcome to our blog series that explores the unique features of the CX Touchpoint Benchmark. In particular, five features make it a revolutionary and unique business intelligence tool for asset managers. 

In this article, we explain one of them: the kite mark and how you can exploit it.

Words are cheap

The long-term forces of supply and demand mean that for most asset managers bargaining power has shifted to clients and CX has become THE reliable differentiator.

In this environment, it is easy for your competitors to say they are client-centric whether or not they have any plans or substance behind the statement.

This creates two difficulties:

  • Prospective clients can struggle to identify the asset managers that will actually prioritise their experience.
  • It becomes harder for you to convey how you invest time and effort into CX.

A client experience kite mark  

To convert this situation into an opportunity for the firms that manage their CX, this project will design an industry accreditation scheme and kite mark.

Ensuring the CX community thrives

This project is important because it will help you differentiate your firm from those that have invested less in their client experience: you will be able to demonstrate your tangible commitment to CX and initiate meaningful discussions about it with clients and prospects.

Crystallise CX for your senior management, clients, and prospects

In general terms, the project will aim to match quantitative and qualitative factors to derive a single and justifiable score for the experiences you provide to your different client segments.

This will help to crystallise CX in the minds of your senior management and board, enable them to compare clients’ feedback against their actual behaviour, and give them the context within which to understand and oversee their CX strategy and progress.

To achieve this, we will research and learn lessons from successful schemes from multiple industries, such as Investors in People, Considerate Constructors, and the UN Principles of Responsible Investing. This will help us frame options and identify the best structure for a client experience kite mark.

For example, should it be a single badge given to any firm that attains a certain level, or should it have different levels like gold, silver, and bronze? And, therefore, what independent verifications should take place before a firm achieves accreditation.

Armed with this internal momentum and external acknowledgement, you will have all you need to discuss your CX proactively with clients and prospects.

The last piece of the CX puzzle

As we embark on the project, we can see how the CX Touchpoint Benchmark’s quantitative data on client behaviour and the CX Maturity Benchmark’s qualitative data about firms’ internal CX capabilities might create a powerful combination.

Both these benchmarks were products of CX Forum R&D projects that have a pattern of delivering innovative tools and insights to the asset management CX community. We intend for this project to continue this track record.

A successful outcome will mean that, in 2022, you will be able to measure, compare, and predict your clients’ experience, manage the different aspects of your CX, and demonstrate publicly that you ‘walk the talk’. For the firms that want to use CX to stand out from the crowd, this project will provide the last piece of the CX puzzle.

Stay connected

We hope you enjoyed this article and that it got you thinking about how the client experience kite mark will help the firms in the CX community thrive.

The remaining blogs in the series each investigate in detail one of the unique features:

If you found this article interesting, follow Accomplish on LinkedIn to get notifications of our future publications.

Adam Grainger

Adam Grainger

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