11: How End-to-End Customer Journeys Generate Profitability and Growth in B2B Sales

In this episode of Seismic Sessions, hosts Gemma Livermore and Rachael Rowe are joined by Nils Hafner from Luzern University of Applied Sciences and Art, and Adrian Whelan from Brown Brothers Harriman. They discuss modernising B2B sales in Financial Services by enhancing customer experiences and improving sales processes. Together, they explore topics such as transitioning from a multi-channel to multi-experience approach, the reasons for end-to-end customer journey failures, and the importance of breaking down silos between marketing, sales, and service divisions.


Show notes

Key takeaways

• Tremors: Customer journeys have evolved significantly over the last decade. Historically, businesses followed a multi-channel approach, where financial institutions structured their operations around individual channels. These channels operated in silos, each responsible for its own set of marketing, sales, and customer service tasks often leading to a disjointed customer experience, where clients felt like they were dealing with different entities rather than a unified firm. The onus on customers to engage with firms through the institutions’ preferred channels meant customer needs were not adequately catered to, prompting the industry to shift towards a more integrated and customer-centric approach that focused on delivering a seamless and cohesive multi-experience journey.
  
  
• Epicentre:  The industry has made strides to improve the customer journey, but still faces its share of challenges. There is an ongoing transition from traditional multi-channel approaches to more integrated multi-experience strategies. Efforts are being made to integrate marketing, sales, and service functions to improve collaboration, data sharing, and to present a cohesive experience to clients. However, the necessity of compliance and risk management is often seen as a barrier to innovation. 
  
  
• Aftershocks: Delivering a seamless and frictionless customer experience in the B2B Financial Services sector is pivotal. Firms need to integrate more personalised, data-driven approaches and use advanced analytics to tailor their interactions to customer needs. The adoption of AI and automation will help them streamline their processes andmake the customer journey more seamless and efficient. Their AI strategies should include driving a more proactive and predictive approach to customer support by using insights to address potential issues before they arise,

Jump into the conversation:

[00:04:07] - The evolution of customer journeys
[00:06:00] - Drivers of the multi-experience transition
[00:07:02] - The impact on the asset management industry
[00:11:45] - Regulatory challenges in customer journeys
[00:15:19] - Regulatory and compliance impact
[00:25:57] - Breaking down silos for future success
[00:27:57] - Leveraging technology in asset management
[00:30:23] - Blue sky thinking: The future of the industry