Rebuilding Trust in Private Client Businesses - Real Customer Relationship Management

A look at the nature of trust within the private client relationship, how trust is lost and how it may be rebuilt in practice.

This article can also be accessed at www.wealthbriefing.com

Format: Adobe Acrobat | Size 35k

Why Innovation is Difficult and How to Make it Work

Here we identify the three main types of reason that innovation projects fail and discuss the ways in which these can be overcome

Format: Adobe Acrobat | Size 90k

Customer Insight and the Innovation Process

In this article we discuss how customer research can be best used to support the process of innovation in financial services, and the development of compelling customer propositions. The challenge is to ensure research is both truely relevant to the task in hand and adapted effectively to the innovation process.

Format: Adobe Acrobat | Size 151k

Understanding the Internal Market - The impact of sales and service staff on customer propositions

Financial services companies sometimes have a narrow definition of what constitutes customer propositions.  All too frequently, they is thought of merely as a product.  This is why so many sectors are engaged in price or rate based competition and struggle to differentiate their offerings from those of competitors.

Our research shows that the customer view is much broader than this and takes in sales and service processes associated with the product.  Customer propositions often fail because staff either do not believe in them, don’t understand their pivotal role, or are not supported in this role by the business. 

This poses a challenge for innovation teams who either may not understand this aspect of the customer experience and do not include it explicitly in their thinking, or who may not have sales or service directors engaged in actual process of developing customer propositions and so cannot get the input to the process or the support they need.

Format: Adobe Acrobat | Size 71k

Innovation in Financial Services: Capturing Value as well as Creating it

The strategic issues facing individual institutions are not only how best to innovate in their business to create new value, but how to capture that value once created – and stop it leaching to customer, intermediaries or better-placed competitors.

In this presentation given to an Advanced Institute of Management Research audience recently, John Lawrence looks at the issue of innovation in several retail financial services sectors and identifies the winners and losers - both suppliers and customers.

The presentation will be followed up by an article developing these themes in more detail in association with Dr Julian Birkinshaw AIM Fellow of Strategic and International Management and Associate Professor at London Business School.

Format: Adobe Acrobat | Size 92k

More