POST-IMPLEMENTATION CASE STUDY

 

ENHANCING RETENTION RATES BY IMPROVING THE CONVERSION PROCESS

Chatham Partners recently completed a Post Implementation project for a global financial management corporation with retirement products/services.

Client Objectives

• Isolate key strengths, weaknesses and gaps within the Company’s conversion process and conversion personnel.
• Benchmark the Company’s strengths and weaknesses against key competitors in the area of the conversion process.
• Provide actionable recommendations to help the Company improve its conversion process and training of conversion personnel.

Chatham Solution

• Developed a customized research questionnaire and sampling plan.
• Conducted telephone interviews with new clients following the implementation to gather unfiltered feedback on the conversion process.
• Feedback gathered on conversion personnel used to determine quantitative benchmarks for evaluation and compensation.
• Created a single directory of clients enabling Relationship Managers to access information about each new client and the details of their conversion.
• Established performance benchmarks that can be used to measure client conversion process satisfaction on an annual basis.

Results

• Improved overall satisfaction of new clients by 5% over a 3-year period.
• Identified lists of potentially “at risk” accounts and the corresponding actions necessary to improve the “at risk” relationships.
• Identified training opportunities for conversion personnel.