ARTICLE
25 January 2013

Love Them Or Lose Them: Why Becoming A "Top Provider" Is An All Or Nothing Game With Your Top Clients

As a general rule, most financial products and services were very profitable on a standalone basis, but in order to maintain acceptable margins, organizations may have to gain a larger share of their institutional clients' wallets.
Malta Strategy

Historically, most financial products and services were very profitable on a standalone basis. Growing regulation, industry consolidation, low economic growth, and risk aversion are putting pressure on profit margins. To maintain acceptable margins, organizations must gain a larger share of their institutional clients' wallets and will do so by employing client-centric business models.

Leading institutions are updating their product offerings, business models, and client relationship strategies to gain "trusted advisor" status and gain a larger share of wallet with their targeted clients. Voice of the customer (VOC) analyses are increasingly used as a tool to determine the business changes needed to better attain "top provider" status.

Beyond products and services, VOC tends to focus the quality of the customer experience. In our view, many institutions have experienced significant difficulty designing and implementing effective VOC programs. To be successful, delivering a consistent customer experience for top clients requires a holistic, multi-dimensional approach.

To view original article please click here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More