Onboarding project | Everest Group

Project Introduction

Everest Group is a leading research and advisory firm that helps organizations make confident, data-driven decisions. With over three decades of experience, we empower service providers and enterprises through actionable insights, benchmarking tools, and industry expertise. Our services span multiple industries, including Banking, Insurance, Healthcare, Retail, Manufacturing, and more, giving us unparalleled expertise in IT/BPO services.

Historically, we’ve catered to Tier 1 and Tier 2 IT/BPO service providers and enterprises, offering both research memberships (annual subscriptions that include reports, analyst inquiries, and workshops) and custom projects (tailored engagements, primarily with marquee service provider clients). For this project, I’ll focus on the BFSI service line and the onboarding process for research membership—a standardized offering across our service lines.

Within the BFSI service line, Everest Group offers seven research membership products, including marquee offerings and newer, emerging solutions. For this exercise, I’ve chosen INS ITS, our marquee product, which I handle directly and have extensive expertise in. This focus allows me to dive deeper into defining the Ideal Customer Profile (ICP) and optimizing onboarding for this specific product.

BFSI Service Line Research Membership Products

ICP Table

ICP Prioritization Framework

Focus Areas Based on Prioritization

From the prioritization framework, ICP 2 (Service Providers) should be the focus for onboarding strategies. Addionally, Advisory and research are critical for Service Providers (SPs) because they operate in highly competitive and rapidly evolving markets. These insights enable SPs to:

• Understand market trends, customer needs, and emerging technologies to stay ahead of competitors.
• Optimize their delivery models and pricing strategies, ensuring cost efficiency and scalability.
• Identify growth opportunities in new geographies, service lines, and client segments.
• Benchmark their performance against competitors and industry standards.
• Build credibility with clients by leveraging data-backed insights to refine offerings and demonstrate expertise.

These segments demonstrate:

• A strong appetite to pay.
• High distribution potential.
• Large total addressable markets (TAM).

Customer Journey

Customer Journey Map tailored to BFSI-focused Service Providers as ICP. The table focuses on their experience with Everest Group, particularly during onboarding and their ongoing interaction with our services.

Customer Journey Map

Highlights

1. Pain Points Addressed:
2. • Ensured BFSI-specific content is easy to discover during onboarding and engagement stages.
   • Simplified decision-making with BFSI-focused ROI tools.
   • Offered proactive support and regular check-ins to build trust and drive renewals.
3. Opportunities:
4. • Created personalized onboarding journeys with curated BFSI content.
   • Developed a BFSI-specific client portal with tailored insights and reports.
   • Launched a referral program to capitalize on client advocacy in the BFSI space.

User Goals and JTBD Table

JTBD for BFSI-Focused Service Providers

Primary JTBD (Functional Goal)

"Enable BFSI-focused Service Providers to optimize sales efficiency, realign offerings, and strengthen client relationships through actionable insights."

Secondary JTBD (Financial Goal)

"Help BFSI-focused Service Providers achieve cost-efficiency and maximize value for their BFSI clients by leveraging data-driven benchmarks and analysis."

Validation Approach

1. User Interviews: Spoke to delivery heads and strategy leaders at BFSI-focused Service Providers.
2. Survey Data: Collected structured feedback from current or potential users within the BFSI segment.
3. Case Studies: Reviewed specific use cases where Everest Group insights significantly impacted BFSI-focused Service Providers' performance.

I am picking a specific account for the onboarding teardown (will need to mask names due to confidentiality clauses). This is an mid-sized insurance focused service provider.

Please find my teardown on the below link:

https://whimsical.com/onboarding-growthx-6mHFLpRctsApuKBfzvgfkT@6HYTAunKLgTWBTfXCKMyYS1Pbb8QveqoPCgygrGKpvwbCPo

Activation Metric Hypotheses and Justifications

Hypotheses

1. “At least 2 users register on the portal within the first 7 days of onboarding.”
2. • Relevance: Portal registration is the gateway to all Everest Group resources, including reports and analyst inquiries. A quick registration by multiple users within the client team indicates initial engagement and interest. The sooner this action is completed, the faster the client can begin extracting value.
   • Justification: This is a critical activation metric because it measures how well the onboarding process encourages clients to take the first action. Slow registration rates could signal friction in the registration process or unclear communication about the portal’s value. By tracking this, we can optimize instructions, simplify the process, and ensure early user adoption.
3. “The first report is downloaded within 14 days of portal registration.”
4. • Relevance: Downloading the first report demonstrates that users understand how to navigate the portal and are beginning to consume Everest Group’s research. It’s a direct measure of early product utilization.
   • Justification: This action shows that users are transitioning from passive registration to active engagement with the product. A high report download rate within the first week indicates a smooth onboarding process and relevance of the reports. Conversely, delays in this action might point to challenges in portal usability or unclear communication about available resources.
5. “The first analyst inquiry is logged within 28 days of onboarding.”
6. • Relevance: Analyst inquiries represent a more advanced form of engagement where users actively seek tailored insights. Logging the first inquiry indicates that the client is not only consuming research but also leveraging Everest Group’s expertise to solve specific challenges.
   • Justification: This metric tracks the effectiveness of the onboarding process in educating users about the value of analyst inquiries. A higher inquiry rate early in the relationship signals strong alignment between client needs and Everest Group’s offerings. If this metric lags, it may highlight a need to improve how inquiries are communicated during onboarding.
7. “The first quarterly executive connect is scheduled within 45 days of onboarding.”
8. • Relevance: Quarterly connects allow Everest Group to align insights with the client’s strategic goals and demonstrate value at a leadership level. Scheduling this within 30 days ensures early alignment and sets the stage for deeper engagement.
   • Justification: This action signifies the client’s willingness to establish a strategic partnership. If delayed, it could indicate a need to better highlight the benefits of executive connects during onboarding or improve communication with client stakeholders.

Metrics to Track

1. Engagement Metrics:
2. • Portal usage: Daily and weekly active users on the portal.
   • Number of reports downloaded: Frequency of report consumption post-onboarding.
3. Interaction Metrics:
4. • Number of analyst inquiries logged: Tracks how often clients engage with analysts.
   • Participation in quarterly connects: Measures executive-level involvement.
5. Operational Metrics:
6. • Average Time to Complete Registration (TAT): Time taken by users to register on the portal after onboarding.
   • Time to first report download: Measures how quickly users begin consuming content.
7. Client Segmentation Metrics:
8. • User cohorts: Analyzing behaviors based on client type (e.g., BFSI, technology providers).
   • Acquisition source: Identifies the channels driving the most engaged clients.
9. Feedback Metrics:
10. • Product reviews and satisfaction scores: Direct client feedback about the onboarding experience.
    • Net Promoter Score (NPS): Measures the likelihood of users recommending Everest Group to peers.