June 2005
Customer Quote:
"I wanted to congratulate you on an awesome project. I think the results of the inter-firm study were excellent. The format was very appealing and the information as invaluable. Great vision and execution."
Anonymous,CEO of a Manufacturing Firm
Client Insights Newsletter
Voice of the Client Program:
Give Your Clients a Role in Growing Your Business
A Case Study (an Investment Advisory firm*)
- $250 million under management, 120 clients
- Services: investment, tax strategy & estate planning
- Founder wants a "baseline" read on the overall strength of the business.
*Can be implemented by any firm in any industry
Questions on the Founder's Mind
- Are clients comfortable with our new "Service" model?
- Which specific clients want to do more business with us?
- What is the level of client satisfaction/dissatisfaction?
- What are the key drivers of satisfaction?
- Which clients would enthusiastically recommend our firm?
- Where are the "opportunities" for improvement?
- What's working - what the firm is doing right
- What critical "life events" are clients facing?
The Approach:
Field A "Voice of the Client Program"
The firm fielded an online survey to its clients. Of 120 clients, 68% provided feedback.
The Results:
-11 clients at risk identified ($25 million in assets) - 82 business opportunities
- 7 of 9 services offered had < 66% awareness - 57 life events indicated
- 86% client satisfaction established as baseline - 3 areas for improvement
82 New Business Opportunities:
- 20 Life Wealth Coaching - 8 Portfolio Management
- 12 Business Planning - 7 Insurance Analysis
- 10 Estate Planning - 5 Education Planning
- 8 Tax Planning - 4 Cash Flow Planning
- 8 Retirement Planning