Is effective Hyper-Personalization in Wealth Management eluding you?
If implementations and an assured ROI are your primary concerns, then an industry-leading CX Framework promises to change that.
With the rise of advanced analytics and digital capabilities, firms can now deliver real-time, personalized insights and meet clients’ increasing demand for tailored experiences.
Hyper-personalization is thus a critical imperative in today’s competitive market, but its implementation is fraught with challenges – from understanding client personas to tech requirements and data privacy.
Our unique industry-first framework helps address these challenges and provides a roadmap for delivering impactful client experiences through real-time personalization or product-persona-journey interventions.
Summary of the 8-stage CX Framework
1
Pre-work
Analyzing existing client data to understand investment behaviors, preferences, and the current journey.
2
Persona Identification
Segmenting clients into distinct personas based on shared preferences, goals, and behaviors.
3
Persona Prioritization
Applying the “Pointedness-Presence-Potential” key principle to prioritize personas based on volume, identifiability, and financial impact.
4
Current State Journey Mapping
Identifying client journey pain points and areas ripe for personalization enhancement.
5
Stage Prioritization
Using the “Success-Emotion-Effort” fundamental principle to prioritize crucial stages in the client journey.
6
Personalization Possibilities
Listing tailored interventions to enhance client experiences at specific touchpoints.
7
Future State Journey Mapping
Envisioning an optimized client journey post-personalization intervention.
8
ROI Quantification
Ensuring personalization strategies are impactful and economically sound.
For the first time, achieving scale efficiently (optimal costs) and effectively (maximal outcomes) is possible.
The CX Framework identifies and prioritizes personalization possibilities based on the business impact and qualified ROI Potential. Implementing this framework may boost AUM per client by 30 – 40% in 6 – 8 months.
