Teach Your Clients Well
Though we're in financial services and they sell baking ingredients, our companies are both well over two centuries old and have New England roots. But perhaps our most important similarity stems from our approach to the people we serve: we both believe in the role of education to connect with our clients.
Though its namesake flours are King Arthur's main source of revenue, it also has its own baking school, offering dozens of classes on making everything from pretzels to savory French tarts. It runs classes online, too, reaching thousands more people than its classrooms — located in Norwich, Vermont and Burlington, Washington — can hold. And through its free Bake for Good Kids program, King Arthur Flour's experts visit elementary schools, teaching children to bake bread from scratch.
Of course, the in-person and online classes feature King Arthur flour, with bakers-turned-teachers explaining what type of flour they're using for a particular recipe and why. But increasing the visibility of King Arthur products may be less important than another benefit the company reaps from educating consumers: trust.
"When someone learns from us, it makes their baking experience that much better. As they're baking, they're assigning a lot of value to King Arthur Flour," said Bill Tine, the company's vice president of marketing. "That's the moment you get that incredible trust — in who we are and what we're doing."
When we take the time to educate them first, we find that many clients want to be in the driver's seat.
At State Street, we're teaching our clients, too, but rather than helping them bake bread, we're helping them access critical insights into their investments and investing strategies. During our webinars and in-person sessions, we cover everything from our latest products to groundbreaking fintech research. We also welcome the opportunity to learn from our clients. In small, semiannual meetings, we feature both discussions on State Street's products and vision as well as client presentations, where they can explain what's working for them and what isn't. The more feedback we get from our clients, the better we're able to serve their needs.
When we proactively communicate with clients, they know we're there to support them. In many cases, however, when we take the time to educate them first, we find that many clients want to be in the driver's seat. Drilling down into data themselves using our tools is both empowering and eye-opening. When clients understand how our products work, they get more value out of them...and they see more value in working with us.
We'll keep finding ways to inform and educate, whether it's in-person, online or over the phone. It's a service we're providing to our clients, and in return, they're granting us their trust. In the best of cases, we become more than vendors in our clients' eyes — we become their partners. We may not be helping them make French tarts, but the results are still something to savor.
Topics: Operational Efficiency
As head of client solutions for State Street’s Performance & Analytics business, Dax Johnson is responsible for product adoption, thought leadership, and business development activities. His team works with clients and prospects to understand their investment analytics needs, share best practices, and identify ways to best leverage State Street’s solutions. Dax is always on the lookout for a new travel destination to explore with his family.