A well-established, mid-size financial consultancy firm had enjoyed long-term, profitable engagements with their loyal customers. However, after a financial crisis, customers became a lot less willing to work on long-term plans, opting for quicker returns and short-term gains instead.
In order to retain the customers and survive in the tough market, the firm’s strategy had to undergo a complete overhaul. After extensive analysis, the Board of Directors defined three new key drivers for better business results:
- Upselling: which translated into being alert and on the lookout for opportunities to add further value to the customers
- Productise services: which translated into a stable revenue stream from the digital space
- Professional Image make-over: which translated into being seen as a trusted confidant to the customers
We worked with the client to bring about a transformative shift in the way their key people worked and to develop new skill sets. Their attitude underwent change, they had to develop a more commercial mindset, learn about digital productisation of services and also implement a new performance management system that focused on these key elements.