Cloudskope re-designs customer experience funnels for a top financial firm, resulting in 70% less churn in one quarter

A financial firm was worried about their customer churn and needed a way to engage with their customers, understand feedback and be able to take corrective action before losing revenue.

THE PROBLEM

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A top financial consulting and audit firm in Dallas had been in business for 30 years and served a niche clientele in the Mcdonald's community. They needed a better gauge of customer sentiment and had never considered understanding their customer experience journeys.

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HOW CLOUDSKOPE HELPED

The Cloudksope Customer Experience Consulting teams mapped out the existing customer journey and engagement models that the client had in place to analyze the gaps.

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The assessment included the following:

• Journey mapping of the entire client journey from quote to cash.
• A comprehensive CX customer audit and interviews with each customer cohort.
• A thorough audit and assessment of the current client workflows, communications, and intake procedures
• An end-to-end re-design of the workflows, onboarding procedures, communications, and project management.
• NPS, CSAT, and CES surveys with each customer cohort and account.

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THE RESULTS

The CX audit provided the customer with new insights into the recent client frustrations and identified essential action items.

• A newly integrated AGILE process and workflow
• Client Risk reports across each business unit and revenue stream
• The integration and collaboration of all business units involved in servicing customers on a unified Salesforce platform.
• Reset all the communication procedures, ownership, and accountability of each business unit.

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CONCLUSION

The final result of this important project was a better insight into customer experience, workflows, and patterns of triggers for customer churn. The client retention, perception, and accounts receivables had a positive impact across the board, including the prevention of lifecycle churn.

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