Advisory Firm Discovers Their Keys to CX Growth

The Solution

First, we conducted a comprehensive audit of the advisory firm’s existing NPS and CX monitoring frameworks. We analyzed their historical data and previous findings. We also identified opportunities to deepen the firm’s understanding of their client experiences by monitoring a wider range of metrics focused on service delivery and deepening client relationships. ​​

Once we finished our assessment and presented recommendations, we revamped the advisory firm’s CX measurement framework to measure the organization’s performance more accurately when it comes to meeting or exceeding client expectations. The measurement goals included identifying key drivers of satisfaction, service performance trends, client emotions, and motivators of advocacy.​

These enhancements then enabled us to conduct advanced analytics and pinpoint which aspects of CX have the greatest impact on NPS, satisfaction, and retention. We developed a six-metric client experience index (CXI) encompassing loyalty, value, and emotional components of the client experience. The new CXI helped us generate action-oriented insights and reveal improvement opportunities across markets.​

The Wins

The advisory firm used findings from the redesigned program to guide CX strategy development down to the relationship executive level.​ Key findings detailed opportunities to improve performance across critical service delivery areas. The results also identified ways to drive growth by encouraging single service clients to take advantage of a wider range of services. ​​

We expanded the reporting deliverables to help the firm socialize detailed insights and implications, clearly segmented by industry, market, and service areas across their organization. This included generating over 300 automated reports reflecting service performance across multiple market segments, and isolating key drivers by industry to help the firm understand where improvement efforts should be focused for highest impact.​

This kind of reporting and consultation, along with the redesigned CX and NPS monitoring, is supporting the advisory firm in creating a company-wide culture of change. Equipped with detailed data and insights, they are developing targeted growth and improvement strategies for each of their market segments, with tangible client goals in each. This level of focused growth planning by segment is something they were never able to achieve previously. Not only is it helping them better serve specific key clients, but it’s also enabling them to demonstrate more value, industry knowledge, and client impact. Additionally, these efforts are helping them capitalize on key areas of strength, prioritize service improvement efforts, and deepen client relationships across markets.​

Finally, in an operational capacity, the advisory firm reports that the improved program, with its expanded framework and reporting deliverables, has brought them greater structure and formalization around process and strategy execution. This helps them be nimbler, jump on improvement opportunities quickly, and shorten the road to impact for their clients.