8. Consistency
Not as easy as manufacturing.
Need –
• Multiple technologies working together
• Process for governing mass
communications
• Multiple cross functional skill sets
12. Consistency
If your brand values customer service:
• Online Chat with a real person
• On your website
• On Social
• Online Management of my Account
17. Here’s a few reasons
• Your industry is Changing and is more
competitive
• There’s pressure to reduce your
fees/costs
• Your competitors are almost certainly
working on this.
BUT The biggest reason -
20. Expectations have changed
Not all their fault:
80 million Baby Boomers, 46 million
Generation X, and 76 million Generation
Y/Millennials
“Digital Natives” are now calling
the shots.
21. Expectations have changed
Woo’ing these customers through
experience is worth it:
• 63% increase in in customer satisfaction
• 53% increase in site traffic
• 49% increase in leads
• 46% increase in conversion
(Altimitir Groups – 2014 State of Digital Transformation)
23. It’s not easy, but here’s a start -
1. Designate a Digital Customer Experience
Champion
2. Define Personas
3. Define Customer Journey
4. Define the Digital Vision
5. Gather Gaps and Challenges
6. Define Capabilities
7. Execute a Roadmap
24. Digital Champion
54% of the time this
is the CMO, but CEO’s
and CIO’s also are
common.
DIGITAL!
Assemble a cross
functional team.
25. Carl
•61 Year Old
•Married, 2 kids out of college
•15 Years as an RIA
•Working more than full time
•Post Graduate Degree
•High on energy and very competitive
•High level of perceived sophistication and trust
•Internet Usage 2 hours / day to Check his financials
•Low level of information seeking
•Has significant infrastructure
Things he wants to know Things he wants to do
Wants to know why he should switch
Years in Business and History
How to keep his clients happy
Level of reports available and past success
How to sell non-traded REITs
Minimum Size of Products
Be Contacted Proactively
Have access to performance data
Network and events
Read about firm history
Read News & events for the latest information
Scenario
Carl is older and has been around the block. He is
more or less open to new products and
approaches but approaches each with a sense of
caution due to past industry problems and
fluctuations.
He knows his stuff and despite his cautious
nature can be convinced about products
through a solid, trusting personal relationship,
industry data, and what his peers are doing.
Persona Development
27. Based on the Customer Journey:
How do they want us to interact with them?
How does that align with our business objectives?
DigitalVision
28. Conduct organization wide stakeholder interviews:
• What do you spend your time on that you
shouldn’t?
• What prevents you from commuicating with
your customers the way you need to?
Gaps and Challenges
29. Capabilities are the “needs” that employees have
to do their jobs, agnostic to technology.
Define Capabilities
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
Tendto have a very significant infrastructure
Have a CIO, have an investment committee
Sales cycle can be a year or longer
Very different sales process
Have a very defined process for picjing an investment
dependent on them needing an aseset class
Do a lot of analytics – the wholesaler needs to be technical in their approach
Need to have a software program (Current Performance that WP Carey has data would not work for these guys)
To support them need an anlyst, and the analysys to present the data
If thy have 250m or less…look more like an independent advisor
300m and up look more instituinal
At 1B + extremely institutional
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms
32% to search on Internet
35% to ask a friend -80% out of those 35% will search for your website to know more about you.
Almost 60% of the users will use your website as a first touch point
This makes Analytics more important for law firms