Fast, well-funded “unicorn disruptors” are using software, mobile apps, and AI to transform the customer experience in every industry – especially Financial Services! Incumbent players are responding with digital transformation initiatives — yet many legacy competitors are still experiencing noticeable declines in product adoption rates, customer retention, and cross-sell metrics.
In this month’s Financial Services Newsletter, we share where disruptors are focusing their innovation, and how legacy players can successfully respond.
- The Last Mile: Our newly released whitepaper, “The Last Mile Opportunity,” spills the secrets on how today’s disruptors succeed across every industry – they rarely invent new products but rather reinvent how a product or service gets to market. Download the whitepaper to learn 7 tried-and-true traits of disruptive winners, 5 principles to win-back your space, and specific case-studies of how the Fortune 1000 find revenue success.
- Cross-Selling at Scale in FS: AI and analytics are having a huge impact on the financial systems ecosystem according to the comprehensive “New Physics of Financial Services” report. If FSI’s aren’t using such trends to accurately anticipate customer defection risk, they are at risk of disintermediation by new entrants or competitors who do. We build the case for cross-selling as the #1 priority for FSI’s to maintain growth in “9 Requirements for Effective Cross-Selling in Financial Services.”
- Removing Friction: Google spends tens of thousands of hours watching people interact with one screen. Do you think they might know something others don’t? When it comes to product acquisition, adoption, and CLV, many technology providers might be blind to the issues that buyers are facing if they don’t know (or “watch”) how users are buying, using, upgrading and maintaining their solutions. Read “How Simply “Watching Your Buyers” Can Increase Retention Rates” on our ethnographic study as one of the best ways to identify friction spots in your go-to-market.
Finally, I’d like to give huge kudos to the MarketBridge team for their “return to gold” at the annual Stevie awards. We walked away with two Gold Stevie Awards for our innovative Sales Enablement programs that fuel customer acquisition and retention across several of our FS clients. Read about it here.
Wishing you break-through success and many “ah-hah” moments in the month ahead. Enjoy!
SVP & Financial Services Practice Lead