Love them or lose them: Why becoming a “top provider” is an all or nothing game with your top clients

October 2015

Overview

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.

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Contact us

John Garvey
Global FS Advisory Leader & U.S. Banking & Capital Markets Leader
Tel: +1 (646) 471 2422
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Bhushan Sethi
Financial Services People & Organization Practice Lead
Tel: +1 (646) 471 2377
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Gary Meltzer
US Asset & Wealth Management Sector Leader
Tel: +1 (646) 471 8763
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Christopher Pullano
US Advisory Partner, Banking and Capital Markets
Tel: +1 (646) 471 2580
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Amy Peirce
Principal
Tel: +1 (415) 498 7941
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Joseph Demmler
Principal
Tel: +1 (720) 931 7754
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Stephen Rose
Director
Tel: +852 2289 5001
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