How CX pays dividends in the financial sector

“Every day we’re saying, ‘How can we keep this customer happy.’ Because if we don’t, somebody else will.”

– Bill Gates, Microsoft

Today’s demanding investors expect a smoother customer experience and a more personal dialogue. Asset Management companies are therefore wholeheartedly embracing customer experience (CX) both to attract and retain customers – and to differentiate themselves in an increasingly competitive field. Yet effective CX requires commitment, focus and consistency. Here are six key strategies that will ensure deeper engagement, and happier, more loyal customers.

Personalisation through segmentation

Customers want to feel valued and understood. Segmentation allows you to craft your communications and investment advice to precisely match their aspirations, risk appetite and values. The better you understand your audience, the more precisely you can tailor your content and messaging – and the more they will appreciate it.

Many channels, one voice

The more channels and relevant touchpoints you can engage with clients through, the more effective your communications will be. Email, web, social media and customised apps can be used in any combination to deliver your message. However, consistency of look, language and tone is essential.

ESG commitment

Today’s investors want their money to be invested in a socially and environmentally responsible way, a trend that will only continue to grow. ESG should therefore be core to your investment philosophy and clearly communicated at every opportunity. We explored this topic in greater detail in an earlier post.

Apply metrics and set targets

Measuring customer satisfaction is crucial. This will allow you to identify and address pain points and maximise your strengths. Furthermore, insights gleaned can help you engage in a more honest and informed dialogue.

Get your entire team on board

Offering great CX requires transforming your entire company culture. Every team member must treat it as a priority and have the skills to play their part. Regular training will keep everyone focused and up-to-speed on putting the customer first.

Be open, clear and transparent

Clients want to know how their investments are performing at all times. Allowing them to access investment data, performance reports, newsletters, etc via an investor portal is a must. Regular communication, especially during market downturns, is also essential. Always be honest and objective: never sugar-coat things, no matter how bearish the market or badly an investment is performing.

Want to make your company or fund more customer-centric? Then let’s have an introductory chat about proven CX initiatives that will greatly enhance your customer journey.