Return on Investment
CXINLAW are secret shopping every day; smart firms in the sector know that investment in client experience is critical.
Recently we carried out a small sample of random secret shops to a family department within a mid sized regional firm. It was found that 75% of prospective clients would most likely not instruct, based on the experience, and the remaining 25% might instruct the firm but could easily go elsewhere if they came across a firm that provided a better client experience.
If 75% of 10 new callers per day chose not to instruct the firm and 50% of those 10 calls would have resulted in an instruction worth £500 that represents an opportunity cost of £2,500 per day and £650,000 per annum.
The return on investment far exceeds the cost of purchasing CXINLAW’s services.
Return on Involvement
Nothing can replace return on involvement in client experience development. The persistent and diligent focus on the client achieves business results, as reported across sectors. To gear the firm up for being truly client-centred it requires active and sustained involvement from all employees month in month out. Are you ready to be as diligent with your clients as you are with financial reporting?