Client-facing portals are web applications that enable the customer to perform some type of self-service activity. These portals can significantly increase the customer experience on your website. In fact, 70% of customers expect a company’s website to include some type of self-service application.
Some examples of these portals include:
- Logging on to a bank portal to retrieve a monthly statement
- Using an online quoting system to generate a label and ship a product
- Tracking package being sent from a merchandiser
The benefits of building a client-facing portal extend further than simply enhancing the customer experience, too. Read on to learn more about the benefits of building a client-facing portal with LaunchPad Lab!
1. Increase Client Satisfaction
Clients’ expectations are changing fast. 20 years ago, clients would simply pick up the phone to talk to your firm. Now, 75% would rather self-service than talk to a representative from your company.
With a client-facing portal, companies can meet clients where they’re at — online. This improves customer satisfaction and helps keep clients loyal.
In the last five years alone, organizations have experienced a 14% increase in the use of digital channels (self-service portals, online chats, mobile apps, etc) to communicate with customers.
2. Drive Operational Scalability
Client-facing portals can increase efficiency and allow a firm to service more clients per unit of expense. Additionally, portals that have self-service capabilities or integrations with digital channels can help to reduce long wait times on the phone, thus making your internal teams more efficient and increasing your overall customer satisfaction.
Consider, for example, Apex Leaders, a private equity services firm that connects their clients to experts in a particular field or industry. Apex Leaders was able to reduce the operational time needed to service clients by building a client-facing portal. This allows Apex Leaders to grow the number of clients and projects they can service without the usual corresponding increase in staff. Read more about how LaunchPad Lab helped Apex Leaders bring their portal to market here.
3. Differentiate Your Firm
Building a portal for your clients can help differentiate your brand from competitors. Clients want to know that your firm is working hard to improve the client experience. Releasing a cutting-edge portal will validate to your clients that you are still the leader in your industry and one that is here to stay in this digital era.