By Mike Schaffman, Simplicity Lone Beacon’s Vice President of Sales and Marketing.
Our digital world is continuing to evolve all around us, and while technology has certainly made things easier, it has also made everything more complex. When we think about the customer journey and all its different stages, our most important job as marketers and business leaders is to establish a connection and grow that relationship. It also happens to be one of our most difficult jobs to accomplish because there are so many different ways in which we can create [first] impressions for consumers interacting with a brand.
People want personalization. People want to care and be cared for. People desire a brand and a business that they can relate to, one that they can trust and become loyal customers of, leading to those precious referrals many advisories have built their business on. But these same people are the ones who have also voiced their concerns over companies having too much access to their personal information, using their data to profit and not to provide a better customer journey and experience for them. This has led to new legislation across the country surrounding consumer privacy and data protection.
We are encountering a new element across a customer’s journey; one where business empathy and privacy are crossing paths. So, what does it mean for an advisor’s brand, business, and sales efforts?
Well, it’s no surprise that nearly 60% of global executives have “customer experience” listed as their number one business priority, based on new research from Harvard Business Review Analytic Services. Consumers are switching brands at alarming rates and with more options than ever before, advisors must focus on their unique value propositions and brand identities. The experience and the “what’s does it mean for me?” questions are equally as important as are the products offered, and the services provided.
As an advisor, it is important that you thoughtfully reflect and challenge yourself on the following: How is my brand currently perceived (by current clients, prospects, and my staff)?
- Think about messaging and imagery across your marketing and advertising channels
- Consider their feelings from an initial introduction to the first meeting and all the way through the appointment process
- Put yourself in their shoes and think about the experiences you’d desire having
The financial service business is the ultimate commodity, therefore, your real…irrefutable…and unique identity is what separates you from the back. In order for an advisor’s brand and business to be deemed trustworthy and to create an authentic experience for people across their entire customer journey, transparency must exist.
From the time of first impressions, to the first stage of data collection, through their journeys to the ultimate point of sale and beyond, you must treat your audience with empathy while respecting their privacy.
About the Author: Mike Schaffman joined Simplicity Lone Beacon in 2015, pioneering their core marketing platform, creating content and connecting media and broadcast components with a turnkey digital solution. Mike helped transform Simplicity Lone Beacon’s offerings and solutions into one of the leading independent financial advisor marketing services in the country today. When he’s not in the office, Mike enjoys playing golf and hockey and likes to experiment in the kitchen.
