Building a business case for change
Transforming from a business-focused to a customer-focused organisation.
CXCO was engaged to help this Property Group transform from a business-focused (inside-out) to a customer-focused (outside-in) organisation. We worked with the leadership team to clarify the business imperative for building customer-focused capabilities, agree on strategic relationships to focus on to meet growth objectives, and create a customer program to increase their customer-focused maturity over time.
The business strategy to grow assets-under-management (AUM) would mean an increase in the number of tenants and employees. To ensure sustainable growth, the organisation needed to embed capabilities to create long-term value. They embarked on a cultural transformation program, with customer-focus identified as a key driver of change.
Current activities and ways of working were indicative of the organisation’s customer-maturity – intent to be customer focused, with limited historical investment. Employees wanted to be customer focused, but often did not know what this meant or how to achieve it.
Standards and accountabilities of services were absent, as were data, systems and processes to assess and manage customer relationships. Pockets of customer excellence existed in teams, however customer-focus was either driven by individuals, or not at all. Limited insight existed into the experience of customers and data on interactions was rarely captured in the CRM.
The leadership team wanted to be more targeted, strategic and structured in how they manage and engage customers, prospective customers and their advisers, and to build strong, trusted long-term relationships that result in increased retention, advocacy, asset value and growth.
Vision and opportunities
CXCO interviewed, and then facilitated a strategic vision workshop with the leadership team to understand the business imperative for change, the business objectives and goals, the current state, and the desired future state. CXCO presented findings from the interviews to inform discussions on next steps and prioritisation of growth and business opportunities to pursue.
Business case definition
We collaborated with our client to define the Customer program business case for funding over 3 years. The business case illustrated the desired future state, and the approach, outcomes, benefits and case for investment. The presentation to the board highlighted the benefits of shifting from the current decision-making model to one that leveraged customer insight to guide strategic decision-making.
Following funding approval, CXCO undertook strategic insight projects to was approved to gain insight into Office tenants, Direct investors (Financial advisers), and Wholesale investors experience, working with numerous multi-disciplinary teams across projects. These projects included analysis of quantitative data, review of past research and qualitative contextual inquiries.
Decision-making tools to facilitate change
Insights were communicated through journeys and personas to illustrate tenant and investor needs, behaviours, and pain points. These tools were used to educate and build empathy in teams, and to act as the customer’s voice in future design activities. A findings and insights report supported the decision-making tools and informed the business change program.