FINANCIAL SERVICES
Are you a Trusted Advisor to your clients?
Our partner software Encompass-CX breaks down clients' perceptions of your business - from Antagonistic to Trusted Advisor. Incorporating fact-based data (like support tickets, emails, and phone calls), Encompass-CX goes beyond customer satisfaction to provide insights and recommend actions a survey would leave unnoticed.
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Does your company stack up with the industry average for client perception?
Your Clients?
?
Success Stories
Client
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Fortune 500 financial services firm
Challenge
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Relationship with a key account was weak
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Client was preparing a request for proposals from other suppliers
Brookeside Approach
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Scheduled an urgent meeting with top executives
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Used Encompass-CX to analyze the relationship (a low Transactional)
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Recommended interventions based on analysis
RESULTS
Shifted the customer relationship to "Trusted Advisor" status
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Kept the $6 million client from defecting to a competitor
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Gave the company a chance to sell and cross-sell to this client again and again
Client
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$5 billion financial services company
Challenge
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Company didn't understand client relationships and was losing 14% of its client each year
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Account and sales teams weren't capitalizing on upsell and cross-sell opportunities
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Lack of accountability for sales objectives at the executive level
Brookeside Approach
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Used Encompass-CX to analyze the firm's client relationships
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Taught account and sales teams how to better communicate their value proposition
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Helped streamline sales and client service processes
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Facilitated a redesign effort to support the new processes
RESULTS
Client retention increased from 86% to 94%
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Boosted sales 35% while reducing cost of sales by 41%
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Increased market share from 26% to 39%
Client
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Global financial services firm
Challenge
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Clients saw the company's customer-facing teams as expert, but unwilling to learn about their needs
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10% of the client base was being lost each year
Brookeside Approach
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Used Encompass-CX to show how the firm could improve its client relationships
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Shifted the company to a more rigorous, data-driven method for analyzing client loyalty
RESULTS
Increased the proportion of customers who perceived the company's sales and service people as Trusted Advisors from 14% to 22%
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Margin on retained contracts ran 30% above budget
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Increased company revenues by over $100 million per year
Client
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World-leading financial services company
Challenge
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Changing marketplace
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Slowing growth
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Difficulty retaining clients
Brookeside Approach
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Loyalty Knowledge Book
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In-depth, case-study analysis of former, current, prospective, and returning customers
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Buyer-type segmentation and profiling
RESULTS
Integrated accounts management process
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Margin on retained contracts ran 30% above budget
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Increased company revenues by over $100 million per year
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"Our firm has a tendency to let things stall and then die. Brookeside is working miracles."
-Vice President