Case Study
Advisory Firm Discovers Their Keys to CX Growth
The Client & Challenge
A leading advisory firm in the financial services industry, is dedicated to creating superior client experiences and exceeding expectations. With a robust portfolio of professional services serving an increasingly diverse range of industries, they needed a CX monitoring program designed to deliver meaningful, action-oriented insights.​
Historically, the advisory firm measured their own client experiences based on indices derived from multiple KPIs. While this index remained strong year over year, it didn’t fully explain certain barriers to growth. The firm engaged The DRG to consult on ways to enhance their CX monitoring approach and gain a clearer picture of CX performance to inform their growth strategy.
The Solution
First, we conducted a comprehensive audit of the existing research framework including analysis of previous findings. We identified opportunities to deepen understanding of their CX by monitoring a wider range of metrics focused on service delivery and client relationships. ​
Then, we revamped the advisory firm’s CX research framework to more accurately measure the organization’s performance when it comes to meeting or exceeding client expectations. The research goals included identifying key drivers of satisfaction, service performance trends, client emotion, and motivators of advocacy.
These enhancements allowed us to conduct advanced analytics to pinpoint which aspects of CX having the greatest impact on satisfaction and retention. We also 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 impact markets.​
The Wins
Findings from the redesigned research were used to guide strategy development down to the relationship executive level.​ Key research findings uncovered 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 our client socialize detailed insights and implications by industry, market, and service areas. This included generating over 300 automated reports reflecting service performance at multiple levels of the organization. ​
The redesigned CX research program is helping our client create a company-wide culture of change. Equipped with detailed data and insights, they are developing highly targeted growth strategies. These efforts are helping them capitalize on key areas of strength, prioritize service improvement efforts, and deepen client relationships.​
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