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Motivating enterprise-wide initiatives October 2013
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“Working together for success”
1. Using data to drive decision-making
2. Business benefits
3. Enterprise-wide project management – client insight
4. Lessons learned
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Imagining the future world of wealth - 19/09/2013
3
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Projects and process
SEEK• Client research• Advisor research• Market mapping• Company/intermediary research• Brand identity audits
THINK• Product/service development• Business case development• Concept solutions• M&A diligence• Brand identity development
CREATE• Campaign management• Change management• Strategic marketing• M&A implementation• Specialist consulting
SHAPE• Market entry solutions• Media and event solutions• Training and education solutions• Sales and marketing campaign• Brand identity solutions
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Using data to drive decision-making
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Wealth management and client-centricity
Source; CapGemini and RBC Wealth Management, World Wealth Report, 2013
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The scale of the knowledge gap
Source: Scorpio Partnership Private Banking KPI Benchmark 2013
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Using data to drive better business decisions
The old – NNM as a proxy for client satisfaction
The new – comprehensive dashboard of client satisfaction KPIs
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Plotting the customer journey
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And getting to grips with what drives clients
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The business benefits
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Budget management
Client referralsClient retention
Adviser retention
Brand evaluation
Targeted marketing Regulatory compliance
Margin retention
Product development
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Case study –global qualitative UHNW research
100 face-to-face interviews with
individuals worth >USD50
million76% would do more business with the bank
Curriculum outline
Course structure
ROI = 5x
NNM of USD10 billion within 6 months
Resourcing
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Client insight – project management
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Three pillars of client insight
Groundwork
Buy-in
Fieldwork
Objectives Methodologies Data protocols
Segmentation Customisation Contact strategy
C-suiteWho, why, how
Contact processBusiness headsFeedback
Front line
Contact mngm’t Data processing Reporting
Logistics Analysis framework
Client feedback
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Case study – global quantitative millionaire insight
Digital insight from 4,400 millionaires
Groundwork
Largest global HNW insight project to date
Buy-in Fieldwork
Validate the global WM value proposition
Digital, multi-lingual Flash-based survey
Valid millionaire sample from 21
countries
Benchmark and spotlight questions
Question design
Panel mngm’t
Data processing
Reporting
Data cleansing
Survey design
Data strategy
Interim reporting
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Lessons learned
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No battle plan survives contact with the business...
...or its clients, for that matter
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Soft-skill project management
1. People will inevitably come ahead of process
2. The best outcomes come from the best fit, rather than the best process
3. Keep going – client insight has the power to achieve radical change and it can take time for businesses to adapt
© Scorpio Partnership 201321
Catherine TillotsonManaging partner
14 Waterloo PlaceLondon
SW1Y 4AR
T: +44 (0) 20 7811 0120www.scorpiopartnership.co
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