High touch service, without the hassle
It’s a tough climate at the moment for financial organisations, especially research providers. They face ongoing regulatory changes, increased competition, and a squeeze on research spending across the board.
And there’s another important challenge too: how well do you know your clients? How in tune are you with their preferences, their consumption, their interactions with you? Are you able to incorporate third-party data to get a fuller view of what they want? Most firms have a partial picture: a really good view of the top 100 clients. But what about the 100 after that, and the 100 after that?
While top-spending clients are of course important, the tail end of business is essential too: often it makes up a significant proportion of overall revenue. That means even a small change – increasing spend by 5%, for example – can deliver big results.
Having a detailed, data-rich, 360° view of all your clients, including the tail, allows you to provide a service that’s every bit as tailored as what you give your top-spending clients. And that will massively increase their satisfaction, ensuring client retention in the long run.
But it doesn’t end there. Having this information across your client base can also help spot trends and patterns that will unlock new revenue from the clients you already have. It’ll show where an adjustment to your current service levels could increase their spend, or where to protect revenue that could be at risk through trend analysis.
And further still, using this rich data coupled with automation and AI-backed tools has the potential to boost your efficiency, so you can service more clients, and provide a more bespoke experience at the same time.
There’s a reason you know more about your top spending clients and give them a more personalised service: their greater contribution to your revenue means it’s worth your while to spend time gathering information about their preferences, habits, outlook, etc, and then spend some more time translating those data points into insights that shape the relationship.
Performed manually, this isn’t scalable: firms simply can’t afford to spend this time on clients who don’t represent such an important chunk of the revenue. But what if you could separate this highly tailored service from the labour it requires?
Singletrack harnesses data from across all areas of your business, as well as third-party data sources. Much of this data can be ambiently collected without your people having to take the time to enter it manually. Then, through the use of AI-backed analytics tools, Singletrack can support you to provide personalised service to every single one of your clients, regardless of their spend level.
This happens by using client data from across your business, third-party information and AI to spot trends in your consumption data and surface pertinent insights to help you personalise your service provision to each of your clients without the burden of doing all this work manually.
It’s a high touch service, with a low-touch time and resources investment.
Ready to find out more about how Singletrack can unlock the potential of your business – at all tiers?
Book a demo now