Case Study: Dashboard and Metrics – Financial Services

The Issue

One of the world’s leading financial institutions planned to shift its focus from a product -centric to customer-centric model. A special internal task force was developed to ensure overall selling effectiveness principles were being adhered to during the transition. Our consultants were retained to advise on the process.

The Solution

Our work involved an assessment of over 20 business units and we found that each division was at various stages of evolution and growth. Although existing evaluation metrics worked well within specific business units, they did not do a good job of evaluating performance across the entire organization. In order to move to a truly customer focused organization, we worked with management to develop dashboards and metrics that evaluated the ‘breadth and depth’ of relationship and product/service penetration of the various business units. Particular aspects of these metrics were ultimately integrated into overall performance management programs (including sales compensation) in order to create company-wide alignment around the new customer-focused strategy.

The Impact

Our client remains one of the top banking institutions globally and continues to outpace its competitors in market share across various product lines (specifically in the countries we worked with them in). Importantly, customer satisfaction has increased which was the most important metric to measure the success of the initiative.