Resources and playbooks
Data is valuable, but insights are vital. So seize a competitive edge with asset management client engagement research, made possible by the Client Behavior Benchmark.
This article explores five common reasons why CX initiatives fail. For each one, we define the mistake, explain why it is a problem, and then present a known solution. We then introduce a new podcast series that will examine more broadly the challenges financial services companies face when implementing CX initiatives.
The UK’s Consumer Duty expects firms to “take behavioral biases into account” while ensuring they “avoid inappropriately manipulating them” and to have “Board-level data and metrics” to demonstrate compliance. Check out 7 behavioral biases you should incorporate into your sales funnel, best practices, mistakes to avoid, and metrics to monitor.
How can you “oversee client behavior at every stage of the journey and provide evidence that you have achieved good outcomes” in asset management? Why is this important? #ConsumerDuty To understand the theory, see it in action with real data, and get an insight into the future direction of travel, watch Adam Grainger’s presentation to Digital Client Engagement 2024. DCE is the invitation-only forum for Heads of Digital Marketing and Client Engagement from Europe’s top asset managers.
Feedback and behavior are two sides of the same coin. Client feedback (aka the ‘voice of the client’) is essential, but it will contain gaps and inaccuracies and is only available infrequently. In contrast, behavioral data is complete, already in your systems, and measurable without disrupting clients.
Client retention will be your largest source of revenue. Check out the behavioral science behind a 5-level retention strategy to reset, prove, maintain, lengthen, and deepen client engagement. Explore best practices, mistakes to avoid, and metrics to monitor.
What digital experiences are asset managers giving to institutional clients today through portals, 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 behaviors to ensure the ongoing relevance of their digital experiences?
Accomplish’s research into ESG-related client behaviors shed light on the nature of clients’ demand for ESG investment services and raised the potential for this to shift. Asset management firms will need skills and budget to serve the needs of greater volumes of experienced clients and their product strategies may also need to evolve. This will present strategic opportunities and threats.
In a changing landscape in which only the most adaptable should expect to survive, Distribution Leadership Teams can use this blueprint to manage the contribution of their pre- and post-sales CX to their quarterly financial results.
