How One Fintech Firm Used Customer Experience Strategy to Grow Revenue by 4X

By Miller Heiman Group | Customer ExperienceA triple-digit increase in sales opportunities identified—and 4X revenue growth based on those opportunities.The ability to maintain steady customer satisfaction and customer support scores despite a delayed product release.Do these results and customer experience metrics sound unrealistic? Think again.They represent the gains that become possible when a firm implements Miller Heiman Group’s Bridging Service Into Sales training to improve its customer experience strategy.FinTech Firm Engages Miller Heiman Group—Twice—for Guidance on Customer Experience Best PracticesMiller Heiman Group partnered with a growing fintech firm, targeting its customer experience strategy. Offering technology-based, end-to-end regulatory solutions to clients around the globe, including 50% of the Fortune 500, the firm prides itself as much on its comprehensive, well-designed software as for its exceptional customer service.But when the firm first engaged Miller Heiman Group, its service delivery lacked consistency. Customer support reps had varying levels of product knowledge and service skills, so no two customer support experiences were alike. Customers developed preferences for working with certain service reps because they believed those reps were the only ones who could handle their needs. When a different resource had to address customer concerns, they complained about their inconsistent service experiences.With the help of Miller Heiman Group, the firm developed customer experience best practices and shored up its customer support skills. Post-training customer surveys showed that the support team’s communication and follow-up skills improved markedly across the board.The firm was so pleased that it turned to Miller Heiman Group for support again, developing a strategy encouraging customer support reps to capture additional sales opportunities.Transforming a Competitive Customer Support CultureTo encourage customer support to bring more deals to the sales team, and to discourage the competitive culture between the sales and support teams, the firm introduced a reward program to incentivize the support team to do three things:

1. Increase their product knowledge and grow their value to the firm
2. Improve their client interactions with all clients and
3. Identify more deals for the sales team to close

By implementing the rewards program, the firm created a customer-focused, service-forward mindset to attain two goals: solving customers’ problems while looking for opportunities to increase the firm’s revenue retention rate.But not all customer support reps embraced this change. While early adopters generated more incentive revenue than anyone else on the team, others balked because they felt that this program turned the customer support team into salespeople with quotas.The disconnect threatened the program’s success. But with the Service Ready Bridging Service Into Sales professional development program, the firm paved a way to connect their teams and align everyone to support these new goals. And the results—nearly 5X increase in opportunities identified and almost 4X increase in revenue—can’t be beat.How Bridging Service Into Sales Transformed the Firm’s Customer Service TeamBridging Service Into Sales helps customer success professionals learn the behaviors that enable them to connect with customers and initiate dialogue to explore sales opportunities. Specifically, this course teaches customer service reps how to:

• Improve customer satisfaction by acting on opportunities and proposing the next step during customer interactions
• Develop skills and techniques for expanding relationships during interactions to improve customer satisfaction and increase profitability
• Listen for and look at opportunities and then explore those opportunities by explaining appropriate solutions to customers in a way that best matches their needs

This new approach enhanced the customer service team’s problem-solving skills and, in turn, strengthened the firm’s relationships with its customers. Support professionals identified and closed 475% more opportunities and increased revenue by 381% in the first six months.