Women Entrepreneur Success Story - Story 9
Ms.Akta Sehgal Malhotra from Manas Management Advisors
Manas Management Advisors specialize specialise in financial mentoring and distribution of financial products.
Customer Success definition
Customer Success for Ms.Akta Sehgal Malhotra is nurturing and supporting her client investments through solutions as per their need.
Her Customer Success Story is of a client she supported in investment towards a lifestyle goal.
Excerpts from her Story
Situation
Every person at any stage of life needs financial security. Financial security to be stress-free in case of emergencies caused by health or support sabbaticals due to job-related pressures, investing in learning vital skills, retirement planning, etc. People may set goals to achieve at different stages of life, and financial security awareness leads to correct and timely investments enabling individuals to focus on things that matter.
Problem
Ms.Akta’s client had lifestyle goals and was clueless on how to go about it. The client already had a portfolio but needed a review to incorporate priorities. It had to be actionable and sustainable.
Solution
Akta worked with her client with a simple solution. She suggested and supported the client to create their personal “Income” and “Expenses” worksheet. The income included all earnings that she had like rental income, bank interest, etc. Expenses involved everything from day to day expenses to premiums etc.
Due diligence to the expenses and income with follow up discussions helped the client to understand leakage that could easily be avoided and used as an addition to her investment kitty.
This effort not only helped the client in refining the investments to meet her financial goals but also helped her gain a perspective to aid future decisions.
Outcome
This exercise supported the client in optimizing her investment capital within existing resources. The approach helped nurture the investment process as a whole for the client and not just focus on one transactional problem in hand.
Money investment is a complete process, and Akta emphasized the same for her client
- It included determining the goals/objectives
- In-depth Budgeting – Income Expense analysis
- Creating an investment plan
- Evaluating and selecting alternatives
- And re-constructing a portfolio.
The customer trusts Manas Management Advisors for their continued needs and also provides referrals in their network of family and friends.
Key Takeaway
Customer Success is not just about working through a problem statement from the client but also to draw an emotional context and holistic view around the requirement. The approach helps in building trust with customers and keep them loyal.
Professor Theodore Levitt from Harvard School quotes, “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole”. It is required that we gather in-depth view on customer needs and expectations.