Ancillary services strategy for broker platform
Case study:
Ancillary services strategy for broker platform
- Situation
- Market-leading broker faced volume and margin pressure from emerging digital incumbent
- Objective was to strengthen customer relationships beyond transactions through relevant add-on services, thereby enhancing loyalty and increasing revenue streams
- Actions
- Conducted in-depth analysis of the customer journey to identify clients service needs
- Identified touchpoints, pain points and opportunities for value-added services through customer insights gathered from surveys and interviews
- Benchmarked service offerings of competitors and identified gaps
- Developed a comprehensive service portfolio aligned with customer needs
- Defined service offerings, features and value propositions based on market sizing and revenue potential analysis
- Evaluated potential delivery models, considering factors such as cost, time-to-market, scalability and alignment with core competencies
- Detailed key services, highlighting unique selling propositions (USPs) for the client and analyzed competitive landscape for differentiation opportunities
- Prioritized high-potential services for pilot implementation based on a cost-benefit analysis and risk assessment
- Outlined a phased approach for service rollout and developed a comprehensive roadmap and implementation plan
- Results
- Established a clear service strategy aligned with customer needs and market potential
- Identified and quantified high-impact services to enhance customer value and differentiate from competitors
- Determined the preferred service delivery model based on operational feasibility and strategic fit
- Provided recommendations on build, partner, or buy decisions and outlined implications for organizational structure and capabilities
- Prepared detailed plans for pilot implementation of shortlisted services, defining pilot scope, objectives and success criteria
- Established a roadmap for long-term service portfolio expansion