1. SITUATION

Goldburn & Tate believed that they maintained a good understanding of their existing clients. Unfortunately, they didn't know how to use this information to improve their bottom line.
 
Goldburn & Tate had seen a slight decline in performance in recent times.  As a result, the executive team wanted to improve profitability by better gauging their client's needs and expectations.

Historically, the firm had treated clients either equally or based on relative economic position, assuming wealthier clients were more profitable.
BusinessWorks was asked to help Goldburn & Tate refine its customer approach and improve its value proposition.
 

2. PLAN & ACTION

BusinessWorks undertook a detailed customer & industry analysis. This analysis included primary research directly with Goldburn & Tate clients as well as secondary research for the industry as a whole.

3. RECOMMENDATIONS

BusinessWorks was able to determine the following key findings from the analysis:

Products
- Offer bundled products
- Differentiate accounts by type & investment goal
- Create strong links with local depository banks & credit unions

Communications & Service
- Distinguish mass & targeted forms of communication
- Offer premium service at each customer touch point
- Expedite issue resolution

4. RESULTS

By implementing BusinessWork' recommendations, Goldburn & Tate were able to increase overall retention by 4% and increase annual profits by 9%