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3 reasons why CX training is essential for asset managers

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CX training is essential

3 reasons why CX training is essential

Historically, the asset management industry has been misaligned on what CX is, why it is imperative, and what good looks like.

At Accomplish, we believe CX training is essential to optimising the success of a CX transformation and that firms should use it to catch-up with the early movers and industry leaders.

Here’s why:

CX training is essential

1. Common language

When everyone involved in the transformation shares the same understanding of CX your organisation can move ‘as one’ across internal boundaries. Everyone will be aligned on the scope of CX, who owns which touchpoint, and what role they need to play in the end-to-end client journey.

Without a common language, the CX transformation may be disjointed: different parts of the organisation will speak in the dialects of their own functional areas.

Firstly, these different definitions will affect whether they believe they are even responsible for CX and, secondly, they will influence the design of different touchpoints. In our experience, firms can struggle to connect inconsistent approaches into an intuitive, coherent, and engaging experience for the client. Internally, the situation accentuates silo-mentality.

2. Knowledge, understanding, and ability to apply CX

The next reason why CX training is essential is that it informs everyone across the client journey what good CX looks like in the B2B asset management industry, and how they can create effective, consistent, and mutually-supportive CX objectives. Objectives developed in this environment are likely to be understood and met.

Conversely, ill-informed CX objectives may be uninspiring, unachievable, and potentially at odds with each other, handing an ‘own goal’ to any cynics. With CX having become THE differentiator, we believe it’s unnecessarily risky to expect colleagues to develop effective CX objectives without first giving them the knowledge, understanding, and ability to apply CX.

3. Employee confidence and productivity 

Lastly, a holistic training course gives individuals and teams the confidence to set themselves stretch goals, it stimulates innovation, and it drives high-quality solutions. In our opinion, it is also no small point that a package of training is an efficient way of sharing knowledge.

Without CX training, staff in various pockets across the organisation will attempt to fill the gaps in their knowledge. But these efforts will be limited by their understanding of what they don’t know, leaving them with an incomplete understanding of CX.

Accomplish’s CX training courses 

Remote working just made the biggest problem with achieving any strategic change even more difficult: how to align everyone? As CX has become THE differentiator, 68% of asset managers expect to increase the strategic importance they place on it

At Accomplish, we believe this means CX training is essential.

To help our clients respond, we launched a CX training capability. Check it out here and take a lesson for free

Adam Grainger

Adam Grainger

Asset management CX specialist. 20-year career in the investment industry – from Transformation Director roles, to regional COO positions.